74 Margaret StreetLaunceston TAS 7250
Property Details for 74 Margaret St, Launceston
74 Margaret St, Launceston is a 0 bedroom, 0 bathroom House and was built in 1900. The property has a land size of 947m2 and floor size of 228m2. While the property is not currently for sale or for rent, it was last sold in October 2023.
Last Listing description (October 2023)
Shepherd & Heap Commercial is privileged to offer 74 Margaret Street for auction under instructions from the Estate's beneficiary.
A unique opportunity, this property is enhanced by a favourable zoning overlay affording varied and broad ranging use applications (permitted and discretionary) under the local planning scheme to adapt, expand, re-develop or build new across the residential, medical/health allied/consulting, food & beverage spectrums plus a range of other retail applications (s.t.c.a). Adaptive re-use of the property for a home-business combination, exclusive inner city living, visitor accommodation or multiple dwellings are all options (s.t.c.a) capitalising on the ambience and appeal of the neighbourhood and it's unsurpassed situation.
Key details and features of this opportunity in brief:
- Prominent 936sqm site opposite the leafy green Brickfields park
- Substantive 19 metre frontage to Margaret Street
- Existing building improvements of 302sqm - front shop/office, 2 bedroom home and garage/outbuildings
- Prime locale on the doorstep of Launceston CBD
- 'Inner Residential' zoning - retail including food & beverage, residential, medical/health allied and consulting uses (s.t.c.a) all possible
- Huge potential for adaptive re-use, to re-develop &/or value add
- Vacant possession sale (GST exempt)
Auction onsite 1pm Friday 20 October 2023 - for further information, IM report or to arrange inspection contact exclusive selling agent now
Property History for 74 Margaret St, Launceston, TAS 7250
- 20 Oct 2023Sold for $1,150,000
- 20 Sep 2023Listed for Sale Auction Onsite 1pm Friday 20 October 2023
- 25 Jul 2023Sold for $350,000
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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 3,721 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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