347 Wellington StreetSouth Launceston TAS 7249
Property Details for 347 Wellington St, South Launceston
Last Listing description (March 2021)
Where Westbury Road and Wellington Street intersect345347 Wellington Street, South Launceston.
Masses of profile, plenty of sealed car parking, plate glass fronted, air-conditioned, brick construction with great natural and artificial light along with a double doored store. Plenty of scope to utilise as is or further improve.
Retailers, service providers, allied health, hospitalitycustomers, clients and patients passing all day on one of Launceston's busiest streets. Catch those going to and from South Launceston, Kings Meadows, Sandhill, Glen Dhu, Prospect, Prospect Vale, Summerhill, the list goes on if you havent got most of Launceston covered then you have the southern half well under control.
Tenanted until November 2021 the property is then available for owner occupation, further development or prior to that time secure a replacement tenant ready to go once this high profile site is available for occupancy.
The property comprises two titles so there is always the option to develop and move one on while retaining the other. Combined land area is 752m2 in total with one title 223m2 and the other 529m2.
Current rental return $44,396.76 plus Outgoings and GST. This rental will continue to the vacate date in November 2021.
Here is a terrific opportunity to secure a high profile, prominently positioned property at the intersection of two of Launceston's busiest streets. Already improved and offering versatile accommodation you can enjoy the rental return to November 2021 while you plan for your own occupation, development (subject to council approval) or look to secure a replacement tenant for that time.
The information on this website has in part been supplied to Humphreys Real Estate Pty. Ltd .by third parties and all information is published solely for potential purchasers to assist them in deciding whether or not they wish to make further enquiries about the properties
The information on this website has in part been supplied to Humphreys Real Estate Pty. Ltd. by third parties and Humphreys Real Estate Pty. Ltd. has not checked the accuracy of the information and does no more than pass it on.
Property History for 347 Wellington St, South Launceston, TAS 7249
- 21 Jan 2021Sold for $326,000
- 05 Nov 2020Listed for Sale SOLD - Price Withheld
- 29 Jun 2001Sold for $82,000
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About South Launceston 7249
The size of South Launceston is approximately 2.8 square kilometres. It has 8 parks covering nearly 5.4% of total area. The population of South Launceston in 2011 was 4,447 people. By 2016 the population was 4,589 showing a population growth of 3.2% in the area during that time. The predominant age group in South Launceston is 20-29 years. Households in South Launceston are primarily childless couples and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in South Launceston work in a professional occupation. In 2011, 54.1% of the homes in South Launceston were owner-occupied compared with 52.6% in 2016.
South Launceston has 2,413 properties. Over the last 5 years, Houses in South Launceston have seen a 56.01% increase in median value, while Units have seen a 43.01% increase. As at 31 October 2024:
- The median value for Houses in South Launceston is $530,619 while the median value for Units is $378,810.
- Houses have a median rent of $480 while Units have a median rent of $400.
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