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: | 5,481 m2 |
| Net Lettable Area: | 3,423 m2 |
| 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 |
