429 Sandy Bay RoadSandy Bay TAS 7005
Property Details for 429 Sandy Bay Rd, Sandy Bay
Last Listing description (October 2023)
Knight Frank Hobart presents for sale the freehold and business of this well positioned motel known as 'Motel 429'.
'Motel 429,' a premier 4-star motel in the affluent suburb of Sandy Bay, comprises a 33-room motel, managers residence and substantial car parking for guests.
The property is superbly positioned being opposite Wrest Point Casino, facing the River Derwent and is 3 kilometers* from the Hobart CBD. All 33 rooms have undergone recent renovations, ensuring minimal capital upkeep requirements for the foreseeable future.
The business has experienced substantial revenue and occupancy growth following the opening of domestic and international borders in December 2021.
With an undersupply of hotels and just one new hotel under construction within Hobart CBD and city-fringe, this is a premium asset to add to your investment portfolio.
Property History for 429 Sandy Bay Rd, Sandy Bay, TAS 7005
- 05 Apr 2024Sold for $7,208,000
- 23 Aug 2023Listed for Sale Contact Agent
- 12 Jul 2022Sold for $6,150,000
Commute Calculator
Recent sales nearby
See more recent sales nearby/assets/perm/cw63nvw2rii63os37vufzr3u4m?signature=6205d3dfbc1ace4848cf1fbf4cddb56ad01dd95abf31ac6f4cd359130e059733){kind=logo}
0/assets/perm/u5l6lbmy3ii6xb3nxxwz4u2jgq?signature=0cae6e7a1949d79fdb69ff9ca19e84cd15d933efff1ee2430e67a1fd910a874e){kind=logo}
0/assets/perm/aefpbqpc7ui6zia5le5lsnv44u?signature=d0f44b4bfdb5553e67432bf2d8975504be6760ee7417a2d76e7b02ccb792679b){kind=logo}
0Similar properties For Sale nearby
See more properties for sale nearby
0
0
0
Similar properties For Rent nearby
See more properties for rent nearby
0
0
0
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 5,841 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.
Suburb Insights for Sandy Bay 7005
Market Insights
Sandy Bay Trends for Houses
N/A
N/A
View TrendN/A
N/A
Sandy Bay Trends for Units
N/A
N/A
View TrendN/A
N/A
Neighbourhood Insights
© Copyright 2024 RP Data Pty Ltd trading as CoreLogic Asia Pacific (CoreLogic). All rights reserved.
This product uses cookies and other similar technologies to improve and customise your browsing experience, to tailor content and adverts, and for analytics and metrics regarding visitor usage on this product and other media. We may share cookie and analytics information with third parties for the purposes of advertising. By continuing to use our website, you consent to cookies being used. View our Privacy Policy here.
X
