Tipalea Partners is pleased to announce the sale of 1 St John Street, Launceston to Melbourne property syndicate Fawkner Property Group.
Developed and owned by Tipalea, 1 St John is a 3,500 m2 bulky goods showroom complex with long term leases to ASX listed retailers including Super Cheap Auto, Rays Outdoors and Beacon Lighting. This is Tipalea’s second foray into the Launceston market.
Sale Price: $9,751,000
Sale Date: July 2015
Passing Initial Yield: 8.9%
Equity Multiple: 1.888 x