54-56 Wellington StreetLaunceston TAS 7250
Property Details for 54-56 Wellington St, Launceston
Last Listing description (March 2021)
POSITION, POSITION, POSITION - Located on Launceston's busiest street with over 23,000 vehicles per day, 54-56 Wellington St is an ideal commercial investment property.
An Italian restaurant has operated downstairs for circa 40 years and is under a new lease with 2 apartments upstairs which are never vacant.
Great first commercial property or an addition to your portfolio.
Property History for 54-56 Wellington St, Launceston, TAS 7250
- 23 Mar 2021Sold for $800,000
- 17 Mar 2021Listed for Sale Refer Agent
- 28 Oct 2019Listed for Sale For sale by offer
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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 3,720 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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