139-141 St John Street Launceston TAS 7250

An exciting and highly versatile investment opportunity, this landmark property delivers an exceptional mix of commercial and residential income streams, all within one substantial holding.

The property comprises two separate commercial spaces at street level. One tenancy is currently occupied as a gym and has been freshly updated, providing immediate rental return. The second space is currently vacant available for lease at $2,800 per month.

Positioned above, the standout apartment offers impressive scale and character, featuring three large bedrooms, generous living and dining areas, a separate kitchen, and beautiful high ceilings that enhance its timeless appeal.

The apartment is currently rented for $500 per week, contributing a strong residential income stream. Access is available via a residential lift or stairs, adding both convenience and accessibility.

Further enhancing the offering is a separate two-bedroom cottage located at the rear of the property. This additional dwelling presents outstanding flexibility, ideal as a further rental, staff accommodation, or private residence, adding yet another layer of income potential and value to the overall asset. Expected rent appraised for $450 per week.

11 secure parking spaces at the rear of the property complete the package. All of the spaces are allocated between the tenancies, with 5 of the car spaces currently leased for $220 per month and 1 space at $180 per month, to individuals. The space is a highly sought-after feature in mixed-use holdings.

Offering diversified income, future upside, and remarkable flexibility, this unique property will appeal to astute investors, owner-occupiers, and those seeking a high-quality mixed-use opportunity with the ability to shape a true destination within the community.

Inspections by appointment only - 48 hours notice will be required

*Peter Lees Real Estate has used a variety of sources to obtain information relating to this property. We believe all are reliable sources and have no reason to doubt the accuracy of the information, however we cannot guarantee it. Prospective purchasers are advised to make their own enquiries.

Boundary lines are indicative only.