Burgess Rawson and Knight Frank Tasmania have listed for sale a premium asset situated in the sought-after Salamanca Waterfront and Castray Esplanade precinct.

Located at 15/13-17 Castray Esplanade, Battery Point, the property is occupied by the popular Kosaten Japanese Restaurant and is for sale via the Burgess Rawson Auction Investment Portfolio 167 to be held at Crown Casino in Melbourne at 10:30am AEDT Wednesday 27th March.

Burgess Rawson Partner, Matthew Wright said the property presents an investment with its long 15-year lease through to 2036 and assured rental growth with fixed 3.5 per cent annual increases. The current rental is $123,726 per annum.

Mr Wright added that the restaurant has gained a significant following across Tasmania and interstate leading to a further five locations poised to open in the future.

'We are under instructions from the vendor that this property will be sold.

“The vendor has another project they are committed to proceeding with and they will meet the market,” he said.

The impressive and modern 201 square metre property benefits from an impressive $750,000 state of the art fit-out. 

The location is a tourist mecca with over 1.3 million visitors per year and is surrounded by some of Tasmania’s best accommodation, restaurants, bars and the famous Salamanca Market.

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