Ideally located along a key arterial road, the property enjoys exceptional accessibility, being approximately two minutes to Sandy Bay Village, within walking distance to the University of Tasmania, and only five minutes to Hobart CBD. Public transport is conveniently located directly at the front of the complex, further enhancing tenant appeal and long-term investment performance.
Occupying a generous 1,841sqm (approx.) allotment within the sought-after Inner Residential zoning, the property offers immediate income combined with long-term value-add potential. Previously utilised as long-term University of Tasmania accommodation, the complex continues to benefit from strong and consistent rental demand.
Substantial Residential Complex
The property comprises two detached, three-level buildings (circa 1970), offering a total of 16 residential units with the following configuration:
• 9 - two-bedroom apartments
• 4 - one-bedroom apartments
• 2 - three-bedroom apartments
• 1 - bedsit
With a total building area of approximately 1,037sqm, the complex provides scale, flexibility and strong rental appeal.
Investment Highlights
Currently fully leased, the property delivers a solid and consistent income stream, with several units have been recently refurbished, further enhancing rental performance and tenant appeal.
Constructed with brick, concrete flooring, metal roofing and aluminium windows, the buildings offer durability and low ongoing maintenance.
Future Potential
• Potential to strata title the apartments (STCA) to unlock additional value
• Strong underlying land value in a blue-chip suburb
Additional Features
• On-site car parking
• Established rental history
• Flexible configuration suitable for various investment strategies
Positioned in the heart of one of Hobart's most prestigious and tightly held suburbs, this substantial residential complex presents a rare opportunity for developers and investors alike.
Opportunities of this scale in Sandy Bay are exceptionally rare. Whether you are seeking a high-performing investment, redevelopment potential or a long-term landholding in a premium location, this property represents a compelling proposition.
We have obtained all information in this document from sources we believe to be reliable; however, we cannot guarantee its accuracy. Prospective purchasers are advised to carry out their own investigations.
