56A Wellington StreetLaunceston TAS 7250
Property Details for 56a Wellington St, Launceston
Last Listing description (May 2019)
Tightly held by the owner and now being offered to the open market for the first time in 30 years - 54-56 Wellington Street (best known as Calabrisella Italian Restaurant) is a fantastic offering that holds appeal to not only the investment market but also the owner occupier - the business / plant and equipment is also included WIWO.
The property consists of the restaurant on ground floor made up of three dining areas (one with opening roof), disability access facilities, commercial kitchen that has recently had a $180k update and parking at the rear. Upstairs are two well appointed residential units that are currently leased out at $160pw and $200pw - the units are tidy however dated, potential for some upside here does exist.
The Calabrisella business / plant and equipment is also included in the sale. The business has been operating for nearly 40 years now (Est 1979) and has been an absolute staple in the Launceston restaurant scene. This is a great opportunity for the owner operator to purchase a well established business with a passive residential income stream, or the investor to either employ a manager or lease.
'Commercial Real Estate Services, Worldwide'.
Property History for 56a Wellington St, Launceston, TAS 7250
- 25 Sep 2018Listed for Rent - Price not available
- 08 Jan 2018Listed for Sale $950,000 Plus GST (if any)
- 19 Nov 2013Listed for Rent $200 / week
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About Launceston 7250
The size of Launceston is approximately 4.5 square kilometres. It has 13 parks covering nearly 16.4% of 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 3,722 properties. Over the last 5 years, Houses in Launceston have seen a 41.37% increase in median value, while Units have seen a 27.53% increase. As at 31 January 2026:
- The median value for Houses in Launceston is $766,540 while the median value for Units is $497,845.
- Houses have a median rent of $510 while Units have a median rent of $450.
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