2 Massey Place Quoiba provides investors with a rare opportunity to secure an affordable, long term passive asset in a central position ideally located on the outskirts of Devonport (Tasmania's third largest city).
The property is fully leased to national vet chain 'VetPartners' who currently have approximately 240 practices around Australia and New Zealand. The initial lease is due to expire in just under 9 years (30 June 2030), with further 5+5+5 year options. The lease provides annual CPI rental reviews and the recovery of typical outgoings from the tenant (excluding land tax). Budgeted net income is forecast to total approximately $24,886.36.
With commercial and industrial properties in the region in high demand, this property affords a fantastic opportunity for investors to gain an entry level asset in the market.
2 Massey Place is being offered for sale by Expressions of Interest closing 4.00 pm, (AEST), 9th September, 2021.
For further details, please contact Knight Frank.
The size of Quoiba is approximately 3.9 square kilometres. There are 8 parks, covering nearly 16.9% of the total area. The population of Quoiba in 2016 was 427 people. By 2021 the population was 427 showing a stable population in the area during that time. The predominant age group in Quoiba is 50-59 years. Households in Quoiba are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Quoiba work in a trades occupation.In 2021, 84.60% of the homes in Quoiba were owner-occupied compared with 82.80% in 2016.
Quoiba has 317 properties. Over the last 5 years, Houses in Quoiba have seen a 50.73% increase in median value. As at 30 June 2026:
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