Launceston TAS has certainly followed the capital city of Hobart when it comes to property growth and rental yield offering investors an opportunity to buy into the Tasmanian market at prices lower than that seen currently down south. This property was unique in that we made the offer to purchase whilst the premises was still being renovated by the owner. We purchased this 3 x Bedroom, 2 x Bathroom property for $520,000 with the strict conditions around the completion of the renovations. We were able to managed the final touches of the renovation with the help of the local real estate agent to ensure the completion of the project was as per our expectation. This house has now been transformed into the grandeur of yesteryearwhilst adding new appliances and finishes to ensure tenant appeal and desire. New driveway and front landscape garden has added to the street appeal making it one of the best properties in the area. On the day of settlement we had a tenant ready to move in on a 12 month lease for $530 per week. The location is fantastic being very close to schools, hospital, cafes and restaurants and only a short drive to the heart of Launceston. Being close to the hospital has attracted interest from doctors and professionals who have moved to area ensuring a quality tenant that will look after the property as if it was their own.
Estimated value of the property now that the renovation has been completed is $570,000 transformed into the grandeur of yesteryear
