FOR SALE
$450,000+SAV (Negotiable)

147 Paterson Street
Launceston TAS 7250

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 1m2
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Niche Chic Style Highly Profitable Award Winning Business One Of The Best CBD Restaurants & Bar

One of its kind-Rare Hospitality Business Run Under Part Management In Launceston.
If you are looking for a bustling venue in a high-footfall location that is a cash-rich hospitality business, then look no further. We are excited to present an award-winning restaurant as a leasehold business.
Kings Bridge Restaurant & Bar is a go-to venue for its heavenly food & drinks. This iconic character building is one of the finest venues in Launceston for functions such as weddings, engagements, corporate functions, sit-down dinner parties, birthday celebrations and more.
Operating 7 days a week, this restaurant caters for breakfast, lunch and dinner.
Commencing circa 2015 this venue has been very popular, recently awarded by Tasmanian Hospitality Association as bronze in Best Stand Alone Restaurant in Tasmania.
Current owners took over this business in July 2018 and have enjoyed financial success since day 1.
With all the systems and procedures in place, this venue is a guaranteed success model for every owner. Some standout features are:
>High turnover and growing every year.
>Immaculate presentation throughout makes this venue more appealing to its patrons.
>Excellent staff retention, currently run under part management by a full-time operations manager.
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Property Details for 147 Paterson St, Launceston

Building Type
Commercial
Floor Size
1m2

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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 3,719 properties. Over the last 5 years, Houses in Launceston have seen a 53.52% increase in median value, while Units have seen a 31.40% increase. As at 30 September 2024:

  • The median value for Houses in Launceston is $717,012 while the median value for Units is $462,228.
  • Houses have a median rent of $495 while Units have a median rent of $430.
There are currently 28 properties listed for sale, and 36 properties listed for rent in Launceston on OnTheHouse. According to CoreLogic's data, 117 properties were sold in the past 12 months in Launceston.

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Praveen Pant
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