This substantial double fronted Brisbane Street property presents a compelling opportunity for Investors and developers alike. Spread across two main levels with some below ground storage and amenities, there is also an attic area above, the property includes undercover car parking for 8 cars. In all there are eight tenancies many air-conditioned and six of which are leased. The property is currently returning a net rental of $80,532 plus GST, moving to $89,912 plus GST on a fully let basis. Including local and interstate office tenants and a Launceston institution- Novaros restaurant on the ground floor. Centrally located and an easy walk to the retail shops and cafes the Launceston CBD offers, this is a terrific opportunity to secure a tenanted investment property but also one with development potential (STCA). With views to the City Park and north past UTas Stadium look to develop the property further down the track as the opportunity arises or continue to hold as a tenanted investment.
The size of Launceston is approximately 4.5 square kilometres. There are 13 parks, covering nearly 16.4% of the total area. The population of Launceston in 2016 was 2944 people. By 2021 the population was 3110 showing a population growth of 5.6% in the area during that time. The predominant age group in Launceston is 20-29 years. Households in Launceston are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Launceston work in a professional occupation.In 2021, 46.80% of the homes in Launceston were owner-occupied compared with 48.20% in 2016.
Launceston has 3,726 properties. Over the last 5 years, Houses in Launceston have seen a 28.49% increase in median value, while Units have seen a 19.27% increase. As at 30 June 2026:
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