406/3-11 Earl StreetLaunceston TAS 7250
Property Details for 406/3-11 Earl St, Launceston
406/3-11 Earl St, Launceston is a 1 bedroom, 1 bathroom Unit and was built in 1975. The property has a land size of 26m2 and floor size of 26m2. While the property is not currently for sale or for rent, it was last sold in February 2019.
Last Listing description (April 2019)
We are pleased to present this fantastic, long term investment opportunity to purchase a unit in a well known Launceston city hotel and have it permanently leased on a long term basis to the hotel!
* Long term blue chip lease (20 years) to Best Western - 4.5 star hotel.
* 6-7% NET return - all outgoings including capital paid by the tenant.
* Bank guarantee in place.
* 4 free nights included per year at the hotel in Launceston (non cumulative).
I would love to have a chat to you about this exciting opportunity and send you an information pack on the money you could be earning from this investment! Don't forget, at the end of the day you own the room on a strata title too!
Peter Lees Real Estate has used a variety of sources to obtain information relating to this property. We believe all are reliable sources and have no reason to doubt the accuracy of the information, however we cannot guarantee it. Prospective purchasers are advised to make their own enquiries.
Property History for 406/3-11 Earl St, Launceston, TAS 7250
- 22 Feb 2019Sold for $155,000
- 09 Dec 2018Listed for Sale $162,000
- 27 May 2008Sold for $300,000
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0About 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 3,720 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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