Halliwell Property Agents is very pleased to present the Iconic "Day's Building" at 121-127 Rooke St in Devonport for sale.
This property has been the cornerstone of the Devonport CBD for over 75 years and has been home to many thriving businesses over the decades. Built in 1949 the premises holds a commanding position on the corner of the busy Rooke St Mall and Best St in Devonport and is synonymous with the City of Devonport and the local community at large.
For decades, this building was the defining structure upon entering the Devonport CBD prior to the successful Living City project. This grand old lady still holds her own and has a design offering some art-deco style architecture. With imagination, and vision this building could look stunning after a significant renovation to the exterior and interior. The north-eastern facing corner of the building still captures views looking down the Mersey River.
The ground floor of this premises is home to six tenants including Jay-Jay's Clothing, Subway and Noodle Box. The tenancies procure a healthy income stream of approximately $161,000 p.a. which could help to subsidise a major renovation on the upper floors. This property is not being offered to the market as a basic set and forget commercial investment based on yield. Rather, the buyer for this property will be someone with vision and a desire to develop it into something grand and unique.
Whilst the ground floor is home to commercial tenancies on leases the upper three floors are a blank canvass. Currently these upper floors are un-renovated leaving that space open to imagination. A broad suite of things could be accommodated in this area ranging from office space, first floor retail, fine dining and of course accommodation. In fact, the upper two floors would be ideal for premium apartments (STCA).
This building is a once in a generation opportunity, a legacy building. It's no secret that the man who first built this structure in 1949, Mr. Archibald Day is still remembered today as the building still bears his namesake known simply as "Day's Building".
For the right buyer this represents a magnificent project sure to secure both returns and legacy.
