Superbly located for Tasmania’s boom tourism market, easy to operate and with a phenomenal rate of return; Launceston’s Coach House motel has put out the welcome mat for a savvy new investor.
A 20-year lease is on offer for $795,000 at a property that shows an annual profit of $330,000.
The Coach House is superbly located on the fringe of Launceston’s CBD with views down to the gorgeous Tamar River and beyond.
The offering includes a long-term lease of 31 quality studio apartments, 32 car parking spaces plus a managers apartment.
John Blacklow from Knight Frank said the current lease runs to 2026 with a further 3 x 5-year options all the way to 2041.
“The Coach House is a superb property and a great opportunity for a new operator,” Mr Blacklow said.
“The property also has a dining room and kitchen which isn’t being used at the moment but is ready to go.
“All a new operator needs is to have someone run reception at the property and hire cleaners and a very good business is theirs.
“It’s a very easy and profitable business to operate and ideal for a live-in couple.”
Mr Blacklow said the Coach House had benefited greatly from local tourism with excellent figures from the last five years showing Tasmanians loved holidaying at home long before COVID’s border restrictions.
The Coach House is located in leafy York St, opposite the Launceston Aquatic Centre and within easy walking distance to the CBD, Inveresk, (UTAS campus and UTAS stadium) and the spectacular Cataract Gorge, one of the area’s great tourism drawcards
Just a short walk from the city centre, the gorge is a slice of wilderness right in the heart of the city.
With a population of 70,000, Launceston is Tasmania's second major city after Hobart and a vibrant hub for food and wine, culture and nature pursuits.
It is surrounded with country charm, gorgeous old towns, excellent food and wine and beautiful scenic highlights, but still with the convenience of a major city and airport.
One of Australia's oldest cities, Launceston has one of the best-preserved early skylines in Australia with its elegant Colonial and Victorian architecture and century-old parks.
There's also plenty of culture on offer at local art galleries, museums and design studios. The Queen Victoria Museum and Art Gallery is the largest regional gallery in Australia.
The UTAS Stadium has also become an important venue for AFL games.
Boag's Brewery has been producing its popular beers since 1883.
From Launceston, visitors can follow the Tamar River north through Tasmania's premium wine-growing region, past forested hills and farmland, lavender fields, vineyards, orchards and pretty riverside towns. Historic villages are found at every turn, from Longford on the outskirts of Launceston to Evandale, Ross and Campbell Town along the Heritage Highway south.
Nearby Narawntapu National Park provides many opportunities to see Australia's unique wildlife.
Launceston's European settlement began in 1804 when the commandant of the British garrison Lt. Col. William Paterson, set up a camp at Port Dalrymple, now known as George Town.
A few weeks later, the settlement was moved across the river to York Town and in 1806 they finally settled in Launceston.
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