Breaking News Today

Camerons Building to be Auctioned

Published: (Updated: ) in Australian News by .

Camerons building

Launceston’s iconic Camerons Building has been put on the market amid increasing investor activity within Tasmania’s commercial property market. The renowned CBD office and retail complex, home to Camerons Accountants for decades and now counting the Federal and State Governments among its tenants, will be auctioned this month. Occupying a 2502sqm site with 2834sqm of […]

The post Camerons Building to be Auctioned appeared first on Tasmanian Times.

Camerons building

Launceston’s iconic Camerons Building has been put on the market amid increasing investor activity within Tasmania’s commercial property market.

The renowned CBD office and retail complex, home to Camerons Accountants for decades and now counting the Federal and State Governments among its tenants, will be auctioned this month.

Occupying a 2502sqm site with 2834sqm of floor area across three levels, the corner property at the intersection of Cameron and George Streets comes fully leased and with multiple income streams.

Its tenancy profile is among the best in the state, including long-time tenant Camerons Accountants, the Commonwealth of Australia, the Tasmanian Government (Department of Health and Human Services) and Knight Frank all calling the building home.

The property has a four-star NABERS rating.

Property agent Raoul Holderhead said the Camerons Building was one of the city’s most prominent properties, with potential investors also set to benefit from an immediate upgrade to Camerons’ offices.

“It’s a super corner in the established financial and legal precinct of the Launceston CBD,” Mr Holderhead said. “Camerons are about to upgrade their office, so that will very likely keep them there for another 20 years!”

The property currently returns approximately $647,095 per annum and its potential sale comes as the local and state economy and property market both move from strength to strength. The property is expected to sell for circa $6.75 million.

Investors continue to see commercial assets in Tasmania, with a string of properties sold at recent auctions across the state in 2019, including four car dealerships, and a Centrelink call centre at Kings Meadows which traded for $4.5 million in August.

READ:  UK hits target: Gives at least 1 vaccine shot to 15 million

The Camerons Building will be auctioned in Crown Casino’s River Room from 11am on Wednesday, 26 February.

 

The post Camerons Building to be Auctioned appeared first on Tasmanian Times.

Source: Tasmanian Times https://tasmaniantimes.com/2020/02/camerons-building-auction/#utm_source=rss&utm_medium=rss&utm_campaign=camerons-building-auction

Shares
Share This
Finance Advice 2021