89 Main St

Bridport TAS 7262

796 m²

House

Currently for sale - view listing

Overview

Prime Residential and Commercial Property

This property comprises on the first level a tastefully refurbished penthouse style 3 bedroom home with ensuite to master bedroom, open plan kitchen/living, positioned to sit back, relax and enjoy the fabulous sea and bay views as well as overlooking the activities on the village green. The complex is underpinned by two established long-term commercial tenancies with direct Main Street frontage, providing immediate and reliable income. Positioned on a 796m2 block zoned village. Importantly, the property also benefits from existing council approval for the subdivision of a 320sqm rear allotment, allowing investors to unlock additional value through development or divestment. From an investment perspective, the property offers significant future optionality. In its current configuration it lends itself (STCA) to strata titling into up to four separate lots, with further upside through the potential creation of additional first-floor commercial or residential tenancies above the main commercial space. The township of Bridport is a highly regarded tourist destination and one of Tasmania's fastest-growing lifestyle markets. Ongoing and planned development in the area, including a new shopping complex and a proposed new pier, are expected to further enhance visitation, amenity and long-term demand, underpinning both rental growth and capital appreciation. This is a rare opportunity to secure a high-exposure, mixed-use freehold with diversified income streams, development flexibility and strong long-term growth fundamentals. Investment Features: • Landmark corner freehold in Bridport's primary commercial precinct • Strong exposure with extensive street frontage and high passing traffic • Two commercial tenancies secured by long-term leases • Vacant, fully refurbished residential asset ready to lease or short-stay • Current net income: $42,392(excluding GST) • Total projected net income (including residence): $69,432 (excluding GST) • Council-approved subdivision of 320sqm rear allotment • Strata and further development potential (STCA) • Positioned within a growing tourism and lifestyle market supported by major local infrastructure investment • Good size 796m2 block, zoned village