FOR SALE
Offers Over $799,000

109 George Street
Launceston TAS 7250

Bedrooms: 2
Bathrooms: 1
Car spaces: 1
Floor area: 236m2
Land area: 109m2
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Prime Investment Opportunity at 109 George Street, Launceston CBD

Nestled in the vibrant heart of Launceston's bustling CBD, 109 George Street presents a versatile freehold investment with both residential and commercial appeal.
Upstairs Residential Unit:
Layout: 2 bedrooms with a light-filled, spacious living area overlooking George Street.
Access: Convenient entry via Earl Street.
Features: Recently updated kitchen, offering modern convenience.
Tenancy: Leased until February 2025 with a secure rental income of $350 per week.
Downstairs Commercial Shopfront:
Status: Currently vacant and ready for occupancy.
Layout: Expansive shopfront with an internal storeroom, rear access to a lockable storeroom, private toilet, and a secure onsite car space.
Potential: Estimated rental return of approximately $25,000 per annum + outgoings.
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Property Details for 109 George St, Launceston

109 George St, Launceston is a 2 bedroom, 1 bathroom Apartment with 1 parking spaces. The property has a land size of 109m2 and floor size of 236m2. The place is currently for sale with The Agency Tasmania.

Building Type
Apartment
Floor Size
236m2
Land Size
109m2

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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 2011 was 2,897 people. By 2016 the population was 2,929 showing a population growth of 1.1% 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 $1000 - $1399 per month on mortgage repayments. In general, people in Launceston work in a professional occupation. In 2011, 47% of the homes in Launceston were owner-occupied compared with 48.2% in 2016.

Launceston has 3,747 properties. Over the last 5 years, Houses in Launceston have seen a 60.75% increase in median value, while Units have seen a 43.01% increase. As at 30 November 2024:

  • The median value for Houses in Launceston is $744,553 while the median value for Units is $514,998.
  • Houses have a median rent of $470 while Units have a median rent of $430.
There are currently 28 properties listed for sale, and 25 properties listed for rent in Launceston on OnTheHouse. According to CoreLogic's data, 109 properties were sold in the past 12 months in Launceston.

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Suburb Insights for Launceston 7250

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Wayne Riethoff & Bec Gardner
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The Agency Tasmania
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