429 Sandy Bay RoadSandy Bay TAS 7005
Property Details for 429 Sandy Bay Rd, Sandy Bay
Last Listing description (October 2023)
Knight Frank Hobart presents for sale the freehold and business of this well positioned motel known as 'Motel 429'.
'Motel 429,' a premier 4-star motel in the affluent suburb of Sandy Bay, comprises a 33-room motel, managers residence and substantial car parking for guests.
The property is superbly positioned being opposite Wrest Point Casino, facing the River Derwent and is 3 kilometers* from the Hobart CBD. All 33 rooms have undergone recent renovations, ensuring minimal capital upkeep requirements for the foreseeable future.
The business has experienced substantial revenue and occupancy growth following the opening of domestic and international borders in December 2021.
With an undersupply of hotels and just one new hotel under construction within Hobart CBD and city-fringe, this is a premium asset to add to your investment portfolio.
Property History for 429 Sandy Bay Rd, Sandy Bay, TAS 7005
- 05 Apr 2024Sold for $7,208,000
- 23 Aug 2023Listed for Sale Contact Agent
- 12 Jul 2022Sold for $6,150,000
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0About Sandy Bay 7005
The size of Sandy Bay is approximately 6.9 square kilometres. It has 14 parks covering nearly 23.0% of total area. The population of Sandy Bay in 2016 was 11927 people. By 2021 the population was 12315 showing a population growth of 3.2% in the area during that time. The predominant age group in Sandy Bay is 20-29 years. Households in Sandy Bay are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Sandy Bay work in a professional occupation.In 2021, 62.10% of the homes in Sandy Bay were owner-occupied compared with 61.50% in 2016.
Sandy Bay has 5,858 properties. Over the last 5 years, Houses in Sandy Bay have seen a 7.64% increase in median value, while Units have seen a 20.48% increase. As at 31 March 2026:
- The median value for Houses in Sandy Bay is $1,268,405 while the median value for Units is $699,351.
- Houses have a median rent of $770 while Units have a median rent of $515.
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