SOLD
Sold on 07 May 2024 for $2,200,000

22 Star Street
Sandy Bay TAS 7005

Bedrooms: 8
Bathrooms: 7
Car spaces: 1
Floor area: 107m2
Land area: 491m2
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Property Details for 22 Star St, Sandy Bay

Building Type
Commercial
Year Built
1946
Floor Size
107m2
Land Size
491m2
Local Government
Hobart
Lot/Plan
1/140903

Last Listing description (July 2024)

Welcome to an extraordinary opportunity to own and operate a prestigious accommodation business in the highly sought-after, central Sandy Bay precinct. This unique property presents four exquisite luxury apartments on a single title, perfectly suited for those seeking a thriving investment. With its prime location, exceptional amenities, and stunning surrounds, this property offers endless possibilities for a successful accommodation venture, in-demand permanent rental housing or lifestyle living and supplementary income combined (STCA). Explore the additional value add opportunities with the potential to seek council approval to strata title each unit separately.

Originally constructed in 1945, the upper apartments offer a touch of Art Deco architectural charm with curved walls and a sophisticated design. The impeccable attention to detail extends to the convict stone look features, paved outdoor areas and steps, and the painted brickwork. The lower apartments, which are accessed off Jersey Street, were developed in 2005 to exacting standards. The landscaped gardens surrounding the property add to the ambiance, creating an unforgettable experience for every guest.

Apartment 1:

This tasteful residence offers a blend of comfort and convenience, providing a haven for guests to unwind and relax. With its spacious living/dining area, fully equipped kitchen, covered carport, paved courtyard and private French balconies with panoramic views, guests will revel in the luxury and tranquillity of this near city, two bedroom, two bathroom retreat.

Apartment 2:
A more affordable option for the discerning traveller, apartment 2 is a compact one bedroom one bathroom residence with a private lock up garage and a spacious stone patio, also with outstanding views.

Apartment 3:
Apartment 3 has two ensuited bedrooms and a garage. Hardwearing, tiled flooring is a practical yet attractive feature of this spacious, two storey townhouse. With its stylish dark stone benchtops in the kitchen, stainless appliances, hydronic heating and seamless indoor-outdoor flow to the private patio, this residence provides a peaceful place to rest after escaping the hustle and bustle.

Apartment 4:
Prepare to indulge in the epitome of luxury with Apartment 4. Guests here enjoy three bedrooms, two down with a shared bathroom and the master upstairs with ensuite, plus there's a lock up garage. From the gourmet kitchen with wine fridge and Miele appliances, to the lavish bedrooms, modern polished concrete flooring and hydronic heating, every aspect of this residence exudes sophistication and comfort. The wraparound balcony can be accessed by two sets of doors off the living area, and it offers beautiful views across the character rooftops of Sandy Bay to Wrest Point Casino, and the boats sailing in the Derwent.

Property Highlights:
Four luxurious apartments on a single title, ready for an accommodation business
Prime location in the prestigious heart of Sandy Bay
High-end finishes and amenities, some furnishings
Private balconies, courtyards, and terraces for guest relaxation
Captivating views of Sandy Bay, River Derwent, and beyond
Meticulously landscaped gardens for guest enjoyment
Close proximity to popular attractions, shops, restaurants, and waterfront activities
A thriving and sought-after accommodation market in Tasmania

Unlock the potential of this remarkable property and embark on an exciting venture in the flourishing accommodation industry in Southern Tasmania. With its luxurious apartments and prime location, this property offers the perfect foundation for a successful and profitable business. Don't miss this chance to own a lucrative accommodation business in the exclusive and desirable heart of Sandy Bay.

Contact us today to explore the possibilities and arrange a private viewing.

Disclaimer: All information contained herein is gathered from sources we believe to be reliable. However we cannot guarantee its accuracy and interested persons should rely on their own enquiries.

Property History for 22 Star St, Sandy Bay, TAS 7005

A timeline of how this property has performed in the market
Last Sold
$2,200,000
07 May 2024
Listed for Rent
$550/w
06 Feb 2024
  • 07 May 2024
    Sold for $2,200,000
  • 29 Jan 2024
    Listed for Rent $550 / week
  • 27 Jun 2023
    Listed for Sale Offers Over $2,400,000
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About Sandy Bay 7005

The size of Sandy Bay is approximately 6.9 square kilometres. It has 14 parks covering nearly 23% of total area. The population of Sandy Bay in 2011 was 11,156 people. By 2016 the population was 11,925 showing a population growth of 6.9% in the area during that time. The predominant age group in Sandy Bay is 20-29 years. Households in Sandy Bay are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Sandy Bay work in a professional occupation. In 2011, 63.1% of the homes in Sandy Bay were owner-occupied compared with 61.5% in 2016.

Sandy Bay has 5,840 properties. Over the last 5 years, Houses in Sandy Bay have seen a 37.00% increase in median value, while Units have seen a 19.52% increase. As at 31 October 2024:

  • The median value for Houses in Sandy Bay is $1,320,252 while the median value for Units is $648,147.
  • Houses have a median rent of $620 while Units have a median rent of $495.
There are currently 29 properties listed for sale, and 15 properties listed for rent in Sandy bay on OnTheHouse. According to CoreLogic's data, 180 properties were sold in the past 12 months in Sandy bay.

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First National Real Estate Kingston
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Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.