20 Glebe Street, Glebe TAS 7000

A Hobart landmark since the 1850s, Addlestone is a generous period home, handsomely built in the Victorian Free Gothic style and enjoying an elevated position on the Glebe providing magnificent water, mountain and city views. Totally restored by the current custodians who have held the property since 1994, this is a rare opportunity to invest or reside in a fastidiously maintained piece of Tasmanian history.

Addlestone is currently configured as 10 self-contained apartments available for long term lease, with rental income of approximately $130,000 per annum representing a NET return of over 6%. The home could be used for short stays or boutique accommodation(STCA) and with some modification to the flexible floorplan could alternatively accommodate a combination of investment and private residence or reverted back to its original state as a grand, single dwelling.

The property has been completely rewired and replumbed and is NBN ready with individual water and electricity supply to each apartment. Electric heating throughout, intercom, extensive OSP, landscaped gardens with automated watering system, under house storage and a communal laundry provide modern amenity.

The home was originally built for Charles Henry Grant MLC, an English engineer arriving in Tasmania to consult on the railway system and later a Legislative Councillor and Tasmanian delegate to the 1897 Federal Convention. Addlestone has a rich and varied history, remaining a private home until the 1930s when it began operation as a boarding house and subsequently fell into disrepair until 1994 when the current owners acquired the property and commenced a complete and painstaking restoration back to an expansive private residence.

Set over four levels, the original floor plan incorporated a number of bedrooms, kitchen and scullery, ball room, ladies? morning room, formal drawing room, library, conservatory, attic and magnificent widow?s walk giving a bird?s eye view of the river, city and beyond. Many attractive original features including open fireplaces, Juliet balconies, timber fretwork, servant bells, marble and timber mantels, ornate cornice work, verandas, iron lacework, leadlight windows, timber staircases, wooden floorboards and Huon pine timber remain in situ, displaying superb period craftsmanship and contributing to the home?s sense of historical grandeur.

Being within close walking distance to the facilities of the Queen?s Domain, CBD and Salamanca, Addlestone is a desirably located unique package on the city fringe. It is rare indeed to find such an immaculate home of this era with so many lifestyle and income options.