OFF MARKET

191 Brisbane Street
Launceston TAS 7250

Bedrooms: 3
Bathrooms: 2
Car spaces: 2
Land area: 361m2
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Property Details for 191 Brisbane St, Launceston

191 Brisbane St, Launceston is a 3 bedroom, 2 bathroom Unit with 2 parking spaces. The property has a land size of 361m2. While the property is not currently for sale or for rent, it was last sold in December 2019.

Building Type
Unit
Land Size
361m2
Local Government
Launceston
Lot/Plan
2/176023

Last Listing description (April 2020)

Expressions of Interest Offers invited over $700,000 closing date Wednesday 18th December 2019. Purchasers must submit their best offer by this date for consideration by the vendor.

191 Brisbane Street Launceston is an exciting proposition for the passive investor, developer or future owner occupier. Currently fully tenanted with secure long-term ground floor tenants, the property is returning a net income of $44,800 plus GST. Future upside could be achieved by negotiating a long-term lease upstairs (currently month to month) and leasing the secure storage space at the rear.


Multi tenanted properties like this in the CBD are becoming increasingly hard to find, especially at this price point. This property presents very well, with renovation works conducted in the recent years. If you are looking for a long-term investment in the Launceston CBD, this one ticks all the boxes!

Features include:

-Fully tenanted investment, secure ground floor leases
-Upstairs tenancy month to month, potential for future redevelopment
-Total net rental of $44,800 plus GST
-Prominent high traffic position on Brisbane Street
-Building: 370m2 approx.
-Land: 360m2 approx.
-Zoning Urban Mixed Use (15.0)
-Secure parking / storage behind roller door (remote opening)
-Reverse cycle air conditioning
-Well-presented commercial property maintained to a high standard

Outgoings: (previous financial year)

Land Tax: TBA
Council Rates: TBA
TasWater: TBA

To learn more about this property, contact Andy at Tucker & Howell.

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Property History for 191 Brisbane St, Launceston, TAS 7250

A timeline of how this property has performed in the market
Last Sold
$725,000
24 Dec 2019
  • 24 Dec 2019
    Sold for $725,000
  • 18 Nov 2019
    Listed for Sale Offers invited over $700,000

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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 3,742 properties. Over the last 5 years, Houses in Launceston have seen a 55.69% increase in median value, while Units have seen a 32.83% increase. As at 28 February 2025:

  • The median value for Houses in Launceston is $764,717 while the median value for Units is $492,591.
  • Houses have a median rent of $470 while Units have a median rent of $450.
There are currently 26 properties listed for sale, and 22 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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