Knight Frank is pleased to offer for sale this premium DA-approved land parcel in the sought-after suburb of New Town.
The inner-residential zoned land benefits from a permit to develop 6 three-storey luxury townhouses, all benefiting from excellent views of Mt Wellington. The property is located on the corner of Pirie Street and Roope Street, and is conveniently positioned minutes from North Hobart's bustling retail and restaurant precinct to the west, and the Coles and K-Mart anchored New Town Plaza to the north. The site is also within close proximity to a number of private and public schools, parks and commercial amenites.
The size of New Town is approximately 4 square kilometres. It has 8 parks covering nearly 9.3% of total area. The population of New Town in 2011 was 5,968 people. By 2016 the population was 6,109 showing a population growth of 2.4% in the area during that time. The predominant age group in New Town is 30-39 years. Households in New Town are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in New Town work in a professional occupation. In 2011, 58.2% of the homes in New Town were owner-occupied compared with 57.4% in 2016.
New Town has 3,093 properties. Over the last 5 years, Houses in New Town have seen a 27.39% increase in median value, while Units have seen a 25.10% increase. As at 31 October 2024:
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