1 St John

1 St John was developed by Tipalea Partners and opened in May 2012 and is a 3,500 m2 bulky goods showroom complex. 1 St John is the regional headquarters for Rabobank and also has long-term leases to ASX-listed retailers including SCA, Rays and Beacon Lighting

1 St John is well-located in the bulky goods precinct of Launceston with a catchment of 100,000 people.

This project was Tipalea’s second successful foray into the Tasmanian market – a market Tipalea knows well and will continue to support.

Project Statistics

Address: 1 St John Street, Launceston, TAS
Site Area: 4,600 sqm
Net Lettable Area: 3,423 sqm
Anchor Tenant: Super Cheap Auto, Beacon Lighting
Sale Price: $9,751,000
Yield: 8.70%
Investor IRR: 19% p.a.
Equity Multiple: 1.9x
Site Purchased: August 2011
Centre Opened: May 2012
Sale Date: July, 2015
Builder: Fairbrother Constructions
Architect: GHD
Bank: Commonwealth Bank