253 Wellington StreetSouth Launceston TAS 7249
Property Details for 253 Wellington St, South Launceston
Last Listing description (May 2024)
Offered to the market for sale in one uninterrupted line, 253-261 Wellington Street comprises of four high exposure commercial tenancies 150m from entry to Launcestons Southern Outlet (highway), the citys main ingress point from the South and North West of the state.
The location of these properties is key to their future success, located in a commanding position at the base of the Southern Outlet with high visibility to a constant flow of traffic on Wellington Street, one of Launcestons busiest thoroughfares.
From this position you can easily access all of Launcestons suburbs within in minutes and it is only 1.3km to the Launceston CBD.
Neighbouring high-profile businesses include McDonalds, Metro Tasmania, Launceston Medical Centre and Jacksons Volkswagen. The properties are also within close proximity to the Launceston General Hospital and proposed private hospital development.
The complex is leased with an occupancy of 86.24% by area with quality tenants including ETCS Electrical & Fire and The Crown Right of Tasmania. Substantial upside remains with two storey 255 Wellington St in a partially renovated state and some underletting evident across the site.
253-261 Wellington Street is offered for sale by Expressions of Interest showing a sound lease profile combined with further development opportunities.
- Outstanding high exposure corner location on Wellington Street
- Located within minutes of the CBD and less than 500m Launceston General Hospital
- Easy access to the highway and airport
- 24 newly sealed car parking spaces, serving 4 commercial tenancies
- Quality tenants, including Crown Right of Tasmania
- 3 of 4 tenancies recently refurbished
- 32 month WALE by area with further options available on all leases
- Opportunities for further refurbishment and/or development (STCA)
- High profile surrounding businesses (McDonalds, Metro Tasmania, Launceston Medical Centre)
- All tenancies NBN ready
- Zoning Commercial (23.0)
To learn more about this property contact Andy or Ben at Howell Property Group.
Howell Property Group has no reason to doubt the accuracy of the information in this document which has been sourced from means which are considered reliable, however we cannot guarantee its validity. Prospective clients are advised to carry out their own investigations.
Property History for 253 Wellington St, South Launceston, TAS 7249
- 20 May 2022Listed for Sale Expressions of Interest
- 10 May 2019Listed for Rent $30,000 / year
- 21 Mar 2019Listed for Rent - Price not available
Recent sales nearby
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0About South Launceston 7249
The size of South Launceston is approximately 2.8 square kilometres. There are 8 parks, covering nearly 5.4% of the total area. The population of South Launceston in 2016 was 4592 people. By 2021 the population was 4894 showing a population growth of 6.6% in the area during that time. The predominant age group in South Launceston is 20-29 years. Households in South Launceston are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in South Launceston work in a professional occupation.In 2021, 51.20% of the homes in South Launceston were owner-occupied compared with 52.60% in 2016.
South Launceston has 2,431 properties. Over the last 5 years, Houses in South Launceston have seen a 44.47% increase in median value, while Units have seen a 41.15% increase. As at 31 July 2026:
- The median value for Houses in South Launceston is $672,635 while the median value for Units is $471,981.
- Houses have a median rent of $550 while Units have a median rent of $450.
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