243 Charles Street

Launceston TAS 7250

507 m²

1179 m²

Block of units

Currently for sale - view listing

Overview

Vacant Possession Mixed-Use Opportunity with Seven Income Streams

Elders Commercial is pleased to offer a mixed-use asset in a premium location for sale via auction. The property is now fully vacant and primed for re-development. Key property and investment highlights include: + Premium Charles Street position within one of Launceston's most tightly held mixed-use precincts, ideally located on the popular café strip and within walking distance of the CBD and Launceston General Hospital. + Rarely does an opportunity present with the potential for seven separate income streams, comprising an established retail tenancy, five residential flats and a separate heritage terrace residence. + Offered with full vacant possession, providing purchasers with the flexibility to renovate, reposition, lease or occupy to suit their own investment strategy. + 245 Charles Street was constructed in 1880, making it a significant heritage property. It has historically been used commercially, as a bakery and more recently as a residence. + Substantial landholding of approximately 1,179sqm across two titles, delivering significant underlying land value in a proven inner-city growth corridor. + Existing improvements include a vacant retail premises, five one-bedroom residential flats and a separate double-storey heritage terrace. + The residential flats are serviced by 80sqm* undercover parking with the potential to create more parking on the surplus land. + Combining scale, location, redevelopment potential and multiple future income opportunities, this is a genuine mixed-use investment with substantial upside in the heart of Launceston. + The commercial tenancy has historically leased for $45,000 net + GST. The property is being sold via Auction on Friday the 13th of November at 12 noon. Please contact Fletcher Seymour or Rodney Rawlings for more information or to arrange an inspection.