63-65 York Street Launceston, TAS, 7250

Land-Rich CBD Investment with Significant Development Upside

Elders Commercial is pleased to offer a prime development opportunity with strong holding income. The property is prominently positioned on one of Launceston's busiest commercial thoroughfares. 63-65 York Street offers exceptional exposure to passing pedestrian and vehicle traffic in a highly visible CBD location.

Key property highlights include:

+ The building is partially leased with a current gross income of $89,000 + GST inclusive of parking income.
+ A tightly held, land-rich asset comprising 593 sqm* of Central Business zoned land with a substantial two-level commercial building of approximately 385 sqm. The zoning allows for construction up to 20m* of height.
+ Benefiting from valuable dual frontage characteristics, the property enjoys a commanding street presence while also offering convenient rear access via an extensive car parking area.
+ Significant rear land component provides genuine future development potential, with the existing car park area presenting opportunities for expansion, redevelopment or higher and better use (STCA).
+ Rarely do CBD assets offer the combination of strong frontage, rear access, on-site parking and future development flexibility within a single holding.
+ Existing improvements include a substantial commercial building configured for restaurant use and complemented by extensive plant and equipment.
+ Attractive opportunity to secure a strategic CBD landholding with immediate income, substantial underlying land value and clear long-term development potential.

Please contact Fletcher Seymour or Rodney Rawlings for more information