434 Main Road, Glenorchy, Tas 7010

Burgess Rawson in conjunction with Edwards Windsor Real Estate are pleased to offer to the market Zap in Glenorchy Tasmania for sale via Auction Investment Portfolio 170.  

The property has the following key investment highlights:

+ Recently renewed Six (6) Year lease to Zap Fitness to 2031 plus options to 2043.
+ Zap Fitness: Tasmanian founded and now part of Fitness & Lifestyle Group with over 80 24/7 Clubs Australia-wide and growing. 
+ Fitness & Lifestyle Group: Backed by Quadrant Capital, F&LG are an international fitness powerhouse with 500+ locations, 8,900 employees and over 850,000 members Australia wide. 
+ Fitness & Lifestyle Group: Operates household brands Goodlife Health Clubs, Fitness First, Jetts Fitness, California Fitness and Yoga, Barry’s Bootcamp, Emily Skye Fit and Zap Fitness.
+ Highly sought after fixed annual 3% rental increases leading to guaranteed compounding rental growth. 
+ High profile, prime 1,175sqm* site, important 24 car spaces and favourable height overlay for future development (STCA).
+ Modern and immaculately presented 384sqm* building with huge exposure to busy Main Road. 
+ Located within the prime shopping precinct of Glenorchy directly opposite Northgate Shopping Centre anchored by Coles, Woolworths and 165 speciality retail stores.
+ Glenorchy: Largest Hobart LGA with a catchment of over 106,000 people
+ Hobart: Administrative capital of Tasmania with a total population of over 250,000 people
+ Tasmania: Has consistently led the nation over the past 3 years in CommSec’s state of the state economic report currently number #2 in equipment spending.
+ Minimal management investment
+ Estimated Net Income: $133,889* pa plus GST

To be sold by Investment Portfolio Auction: 
10:30am (AEST) Wednesday 7 August 2024
River Room, Crown Casino, Melbourne

* Approx