OFF MARKET

58 Bridge Street
Richmond TAS 7025

Bedrooms: 3
Bathrooms: 1
Car spaces: 10
Floor area: 173m2
Land area: 1898m2
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Property Details for 58 Bridge St, Richmond

Building Type
Commercial
Year Built
1850
Floor Size
173m2
Land Size
1898m2
Local Government
Clarence
Lot/Plan
1/48087

Last Listing description (June 2021)

This extraordinary property comprises a popular shop premises on the main commercial strip at Richmond, as well as an adjoining residence, on a large allotment overlooking historic Richmond Bridge with recent Council Approval for 2 new dwellings.

The shop at front is currently occupied and leased to "Peppercorn Gallery" until February 2022, and the residence behind rented privately with no fixed term. Perhaps most exciting however is the approval to construct two new townhouses at the rear of the site, one with an elevated view over iconic Richmond Bridge, which lays claim to being the oldest stone bridge in Australia.

The property is approx. 1898sqm and spans the breadth of Bridge Street with commercial street frontage, to the Council Reserve at the rear overlooking the Coal River. The approved DA and Planning Permit is dated 24 December 2020 and valid for 2 years, and the designs by Pinnacle Drafting & Design are outstanding. Two contemporary units, a modern 2-bed 1 bath situated directly over the river, and a 3-bed 2-bath situated more internally. Full Permit with building plans available on request.

"Peppercorn Gallery" at front, established in 1983, has been a long term tenant of the owner. Formerly the "Mill Cottage", the premises has deep historical roots, but currently generates an important revenue stream, along with the residential tenancy behind. The Shop has commercial zoning with versatile retail areas, window frontage and facilities. The 2 to 3 bedroom residence behind is well appointed, with flexible living areas, some incredibly unique and authentic features and a beautiful courtyard, gardens, green house and carport.

Richmond is approx. 25mins from the Hobart CBD, with independent schools, shopping and services, and the sale of this property by the family is certainly an incredible opportunity to live, do business or invest in one of the most recognised, historic and visited locations in Tasmania, in a rising Hobart market.

Historic site in Richmond for sale
Approx. 1898sqm level block
DA approval for 2 new unit dwellings
Views of Coal River & Richmond Bridge
"Peppercorn Gallery" shop premises
Street frontage and flexible retail space
Residential living or tenancy behind
Well maintained with versatile layout
Beautiful courtyard with outbuildings
Approx. 25 minutes to Hobart CBD
Current revenue:
Shop Lease - $18,841pa
Residential Lease - $450pw
Outgoings:
Council Rates - approx. $3844pa
Land Tax - approx. $2775pa
TasWater approx. $300pq

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Property History for 58 Bridge St, Richmond, TAS 7025

A timeline of how this property has performed in the market
Last Sold
$1,150,000
19 May 2021
  • 19 May 2021
    Sold for $1,150,000
  • 26 Feb 2021
    Listed for Sale Offers Over $950,000
  • 16 Dec 2011
    Sold for $555,000
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About Richmond 7025

The size of Richmond is approximately 89.9 square kilometres. It has 6 parks covering nearly 0.3% of total area. The population of Richmond in 2011 was 1,609 people. By 2016 the population was 1,461 showing a population decline of 9.2% in the area during that time. The predominant age group in Richmond is 50-59 years. Households in Richmond are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Richmond work in a professional occupation. In 2011, 80.8% of the homes in Richmond were owner-occupied compared with 80% in 2016.

Richmond has 859 properties. Over the last 5 years, Houses in Richmond have seen a 55.12% increase in median value, while Units have seen a 90.99% increase. As at 30 November 2024:

  • The median value for Houses in Richmond is $822,561 while the median value for Units is $503,814.
  • Houses have a median rent of $538.
There are currently 7 properties listed for sale, and no properties listed for rent in Richmond on OnTheHouse. According to CoreLogic's data, 31 properties were sold in the past 12 months in Richmond.

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