SOLD
Sold on 26 Mar 2024 for $3,900,000

10 Invermay Road
Invermay TAS 7248

Bedrooms: -
Bathrooms: -
Car spaces: 16
Floor area: 797m2
Land area: 1874m2
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Property Details for 10 Invermay Rd, Invermay

Building Type
Commercial
Year Built
1987
Floor Size
797m2
Land Size
1874m2
Local Government
Launceston
Lot/Plan
1/101864

Last Listing description (November 2023)

Offering the unique attributes of a leading national tenant, long term lease and redeveloped building on a busy main road corner, this property ticks all the boxes..

Just 1.6km from the Launceston GPO, 8-10 Invermay Road is located at the busy and well known, 'Forster St' intersection, opposite the UTAS Stadium and close to the new UTAS campus. Key national brands operate in the immediate area including McDonalds, Bunnings, Officeworks, PETstock, RSEA, United and Instant Windscreens.

For c.30 years, this site was home to Beaurepaires before being extensively redeveloped for National Tiles, becoming their first store in Northern Tasmania. With a fresh 7+5+5 year lease from June 2023 to one of Australia's leading tile brands, this asset represents a significant commercial opportunity for the astute investor.

Knight Frank proudly offers this property For Sale by Expressions of Interest Closing 4.00pm Tuesday 21 November 2023.

*Approximate

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Property History for 10 Invermay Rd, Invermay, TAS 7248

A timeline of how this property has performed in the market
Last Sold
$3,900,000
26 Mar 2024
  • 26 Mar 2024
    Sold for $3,900,000
  • 24 Oct 2023
    Listed for Sale EOI closing 4.00pm Tuesday 21st November 2023.
  • 25 May 2022
    Sold for $2,650,000
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About Invermay 7248

The size of Invermay is approximately 4.1 square kilometres. It has 9 parks covering nearly 21.5% of total area. The population of Invermay in 2011 was 3,086 people. By 2016 the population was 3,049 showing a population decline of 1.2% in the area during that time. The predominant age group in Invermay is 20-29 years. Households in Invermay are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Invermay work in a professional occupation. In 2011, 48.4% of the homes in Invermay were owner-occupied compared with 44% in 2016.

Invermay has 2,050 properties. Over the last 5 years, Houses in Invermay have seen a 58.03% increase in median value, while Units have seen a 46.49% increase. As at 31 October 2024:

  • The median value for Houses in Invermay is $481,704 while the median value for Units is $469,721.
  • Houses have a median rent of $450 while Units have a median rent of $445.
There are currently 17 properties listed for sale, and 5 properties listed for rent in Invermay on OnTheHouse. According to CoreLogic's data, 66 properties were sold in the past 12 months in Invermay.

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