OFF MARKET

247 Elizabeth Street
Hobart TAS 7000

Bedrooms: 1
Bathrooms: 1
Car spaces: -
Land area: 1418m2
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Last updated 18 Nov 2024
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Property Details for 247 Elizabeth St, Hobart

247 Elizabeth St, Hobart is a 1 bedroom, 1 bathroom House. The property has a land size of 1418m2.

Building Type
House
Land Size
1418m2
Local Government
Hobart
Lot/Plan
1/199061

Last Listing description (March 2019)

Edwards Windsor have the privilege of offering for sale for the first time in over 100 years, a substantial heritage building, situated on a prominent corner location, in an improving fringe CBD commercial and residential precinct.
The building on the site is a multi-level structure, constructed in approximately 1890, as a purpose built brewery and which has had various modifications over subsequent years to now principally accommodate retail and storage uses.
The improvements have an area of over 5,000 sqm and is situated on a site area of 1,338 sqm, with extensive frontages to both Elizabeth and Warwick Street.

The site is zoned Central Business which allows the opportunity to undertake a re-development of the building for residential, Hotel, commercial and retail uses or a combination (STCA). Alternatively the property could be continued to use for the current retail, office and storage use.
The entire property is held under a short lease agreement to the occupier of the Elizabeth Street ground floor area, expiring 31 December 2018.
The head lessee sub leases the upper levels of the building to various individual operators and therefore the opportunity exists at the end of the current lease for individual leases to be negotiated with the various occupants and in our opinion substantially increase the current rental.
The property is for sale by Private Treaty at a price of $3,495,000.
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Property History for 247 Elizabeth St, Hobart, TAS 7000

A timeline of how this property has performed in the market
  • 06 Sep 2018
    Listed for Sale EXPRESSIONS OF INTEREST

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About Hobart 7000

The size of Hobart is approximately 2.1 square kilometres. It has 10 parks covering nearly 4.8% of total area. The population of Hobart in 2011 was 2,102 people. By 2016 the population was 2,298 showing a population growth of 9.3% in the area during that time. The predominant age group in Hobart is 20-29 years. Households in Hobart are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Hobart work in a professional occupation. In 2011, 31.3% of the homes in Hobart were owner-occupied compared with 26.4% in 2016.

Hobart has 3,036 properties. Over the last 5 years, Houses in Hobart have seen a 27.83% increase in median value, while Units have seen a 34.77% increase. As at 31 October 2024:

  • The median value for Houses in Hobart is $1,051,039 while the median value for Units is $818,558.
  • Houses have a median rent of $560 while Units have a median rent of $575.
There are currently 15 properties listed for sale, and 31 properties listed for rent in Hobart on OnTheHouse. According to CoreLogic's data, 70 properties were sold in the past 12 months in Hobart.

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