Long-term Beaurepaires site for sale, national tenant moves in

Beaurepaires occupied 8-10 Invermay Road, on the Forster Street corner, for about 25 years before closing last year.

Owner Errol Stewart then redeveloped the site for National Tiles, who moved in during winter, and the Tasmanian developer has since returned the property to the market.

The 1874 square metre property is leased to National Tiles for the next seven years, with a further two five-year options.

It is expected to fetch in the high $3 millions or low $4 millions.

Launceston's Barbeques Galore site, located near Woolworths in York Street, sold for a similar figure earlier this year.

Knight Frank Launceston's Charles Black said the Invermay Road site had received good interest from local and interstate buyers.

He said while Launceston's investment market had thinned somewhat in recent times, the serious buyers were still there.

'It's still fairly solid," he said.

"There's certainly not the volume of enquiries that were there 6-12 months ago for something like this, but I think the people that are really out there looking for something are [still] looking."

The store is National Tiles' second Tasmanian store, and first in Launceston.

Expressions of interest close November 21.