114-118 Warwick Street
West Hobart TAS 7000
- 20 Parks
Offers over $2.2m
Substantial parcel across three titles offering CBD development opportunity
Elders Commercial Tasmania is pleased to offer a premier investment opportunity in the highly sought-after area of West Hobart. The property spans a 1,295 sqm* parcel across three titles offering substantial development opportunity^. This versatile property boasts a diversified income profile, including three leased residential dwellings and a rear workshop securely leased by Cooper Automotive for a term of four years.The site’s ‘Inner Residential’ zoning and multiple access points offers a compelling future development, whilst the existing use for automotive servicing offer scope for continued commercial occupancy or adaptive reuse^. Located just 1* km from the Hobart CBD, the asset benefits from significant exposure, ample onsite parking and a rare combination of income security and long-term upside.
Key property highlights include;
• 1,295 sqm* city fringe landholding with development potential^.
• Diversified income stream, anchored by Cooper Automotive one of Tasmania’s leading automotive specialists.
• Significant onsite parking for approximately 20 cars, and wide frontage to Warwick Street.
• Estimated net income of $150,040** pa + GST, with the commercial tenant responsible for statutory outgoings.
• Prime West Hobart location, minutes to the Hobart CBD and major arterials.
• The property benefits from flexible existing use rights for automotive servicing, offering flexibility for future adaptive reuse, redevelopment^ or continued investment income.
• Significant potential for residential infill development or mixed-use adaptation with zoning that supports medium density development^.
The property is for sale by offers over $2.2m.
For further information or to arrange an inspection please contact the exclusive selling agents.
^ STCA
* Approx.
** Before owner outgoings.
Features
General Features
- Land Area: 1,295sqm
- Commercial Type: Industrial/Warehouse
- Building Area: 401sqm
- Zoning: Inner Residential
- Car Spaces: 20
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