Property Description

Astute investment opportunity

Surrounded by beautifully restored and admired real estate in one of Hobart's most sought after locations, 41 Bay Road New Town occupies a wonderful location under 4 km from the Hobart CBD. Two separate buildings are currently providing three separate residences with significant scope for further development.

The front fully renovated unit is beautifully appointed with a modern contemporary vibe. Spacious and well laid out, the unit has two very good size bedrooms, a spacious lounge, separate dining and a very chic black and white kitchen with the fully equipped bathroom having ample room for the laundry facilities.

The second unit is set over two levels with four bedrooms and provides good size living areas. This unit has a charm all of its own, is partially renovated and also has the potential to be separated into two apartments with two bedrooms each.

The separate unit at the rear of the property is also fully renovated and has the same quality fit out and fixtures of the front unit. There are two bedrooms and a central open plan living, dining and kitchen area. A separate laundry area and a well-appointed kitchen are also in place.

Each unit has two car spaces and a secure outdoor space and all are very private with a sense of space and seclusion.

The units are all currently tenanted with reliable long-term tenants and show a great return.

Further development opportunities beckon the astute investor. There is a large grassed area at the front of the property just waiting for your development (STCA). Planning approval has been issued for a 2 bedroom villa-unit and further options within the existing structure. Vacant, useable land with this potential is a very rare occurrence in this sought after location.

The information contained herein has been supplied to us and we have no reason to doubt its accuracy, however, cannot guarantee it. Accordingly, all interested parties should make their own enquiries to verify this information.
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Our Agent

Jo Brownless