An icon of Launceston's Brisbane Street Mall is soon to be on the market.
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'Prouds' building in Launceston Mall, 128 Brisbane Street, is to be sold through an open market 'For Sale by Offer' national sales campaign to close on 7th December.
It should draw quite a bit of attention and return a good result. The mall is tightly held, but we were lucky enough to sell the Birchalls building to the council in 2019.
- Blake Shepherd, Director of Shepherd and Heap Commercial
Shepherd & Heap Commercial agents Ian Singline and Blake Shepherd said they are delighted to be appointed to represent the sale of this 'extremely notable retail asset, a property that is certain to attract good interest from the broader market.'
Director Blake Shepherd said it's a very rare situation in a mall, where there is a lease expiry.
"It should draw quite a bit of attention and return a good result. The mall is tightly held, but we were lucky enough to sell the Birchalls building to the council in 2019. In that same year we also sold 125 Brisbane Street, but then you have to go back some time to see an earlier transaction," he said.
"It's our premier retail strip. The shop has an 11 metre frontage and could possibly be split into two smaller spaces. There are lots of options with this building."
The property sits within the epicentre of topical future developments with Paterson St Carpark and Birchalls re-development sure to add value and further revitalise the CBD.
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Leased by jewellers after it was built in 1965, the space is one of the longest standing continuous uses in the Mall. The current lease term for Prouds is until March 2024, with the opportunity to negotiate terms for renewal with Prouds or indeed, for an owner-occupier buyer the opportunity to establish a new flagship store.
The site has been held by local Green family for over 85 years deciding to sell after the recent passing of Mrs Joan Green
Nikita McGuire
Born and raised in Launceston, Nikita is passionate about the stories that matter to locals. When she is not at work you can find Nikita adventuring around Tasmania or spending time with family and friends. If you have story tips or events in the Arts and Events sector, please contact Nikita at nikita.mcguire@austcommunitymedia.com.au or on 0437 031 581
Born and raised in Launceston, Nikita is passionate about the stories that matter to locals. When she is not at work you can find Nikita adventuring around Tasmania or spending time with family and friends. If you have story tips or events in the Arts and Events sector, please contact Nikita at nikita.mcguire@austcommunitymedia.com.au or on 0437 031 581
