135 George StreetLaunceston TAS 7250
Property Details for 135 George St, Launceston
Last Listing description (October 2023)
George Street is Launceston's home of hospitality, causing freehold properties such as 135 George to be rarely offered to market due to stable tenancies and rental growth potential.
Seize this opportunity to secure this hospitality property in a sought-after position with great street parking, extremely popular and reputable tenant whilst being on the doorstep to Launceston's blue ribbon suburbs.
Pickled Evenings is Launceston's premium Indian themed restaurant and has called 135 George Street home for well over a decade now and will continue to do so thanks to a 5 + 5 + 5 year lease from February 2022.
Property highlights:
Property is licenced for up to 98 seats
Enjoys a prominent position in George Street with front dining patio
Solid concrete and brick construction
Award winning, long standing Tenant with excellent track record
Exceptional fit-out and well-maintained property
Long term 5 + 5 + 5 year lease from February 2022
Tenant pays all statutory outgoings
Current Net Rent: $48,465pa excl. GST (just $495pa per licenced seat excl. GST)
For further details contact Joel Harwood or Blake Shepherd.
Property History for 135 George St, Launceston, TAS 7250
- 07 Jun 2024Sold for $740,000
- 19 Jul 2023Listed for Sale For Sale By Offer
- 28 Sep 2016Listed for Sale Not Disclosed
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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 3,721 properties. Over the last 5 years, Houses in Launceston have seen a 53.73% increase in median value, while Units have seen a 42.25% increase. As at 31 October 2024:
- The median value for Houses in Launceston is $734,272 while the median value for Units is $497,284.
- Houses have a median rent of $480 while Units have a median rent of $430.
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