SOLD
Sold on 01 Jul 2024 for $2,700,000

17 Cavell Street
West Hobart TAS 7000

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 2238m2
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Property Details for 17 Cavell St, West Hobart

Building Type
Commercial
Year Built
1970
Land Size
2238m2
Local Government
Hobart
Lot/Plan
3/62675

Last Listing description (November 2017)

A rare opportunity to purchase a freehold motel in desirable West Hobart. The property is spread over 3 titles and has been in the same family for around 50 years. The main historic residence has been converted to luxury suites, elegant entrance hall, reception, offices, staff laundry and separate guest laundry, plus a cafe with alfresco dining area.
Additionally there are 2 further blocks located an the front of the site. They consist of 18 hotel-style rooms and a staff kitchen. Multiple car parks are also available in this area.
Overall, there is a range of suites and rooms, from single hotel-style rooms right through to substantial multiple bedroom self contained suites. Tasmania's tourist and hospitality industry it booming with record numbers of tourists seeking accommodation in Hobart. Some of the rooms have benefited from renovation.

The recently opened 'Cafe Cavell' has added an extra dimension and income stream to this successful business. Patrons have a choice of using the spacious dining room or the delightful alfresco area. The cafe has been used for highly successful functions and there is scope to increase their frequency and income potential. The business is ideal for a couple to operate with support from casual staff. Alternatively, with the appointment of a manager it could be a passive investment.
Do not miss this opportunity to purchase a landmark building and business in a booming industry.

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Property History for 17 Cavell St, West Hobart, TAS 7000

A timeline of how this property has performed in the market
Last Sold
$2,700,000
01 Jul 2024
  • 01 Jul 2024
    Sold for $2,700,000
  • 25 Oct 2017
    Sold for $2,200,000
  • 07 Sep 2017
    Listed for Sale Expressions of Interest

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About West Hobart 7000

The size of West Hobart is approximately 3.9 square kilometres. It has 8 parks covering nearly 35.4% of total area. The population of West Hobart in 2011 was 5,800 people. By 2016 the population was 5,978 showing a population growth of 3.1% in the area during that time. The predominant age group in West Hobart is 40-49 years. Households in West Hobart are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Hobart work in a professional occupation. In 2011, 61.5% of the homes in West Hobart were owner-occupied compared with 62.3% in 2016.

West Hobart has 2,945 properties. Over the last 5 years, Houses in West Hobart have seen a 26.39% increase in median value, while Units have seen a 19.05% increase. As at 31 October 2024:

  • The median value for Houses in West Hobart is $917,514 while the median value for Units is $630,346.
  • Houses have a median rent of $593 while Units have a median rent of $470.
There are currently 15 properties listed for sale, and 3 properties listed for rent in West hobart on OnTheHouse. According to CoreLogic's data, 72 properties were sold in the past 12 months in West hobart.

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