64 Derwentwater Avenue, Sandy Bay TAS 7005

Harcourts Hobart, on behalf of the University of Tasmania, is offering this outstanding development or investment opportunity situated right in the heart of popular Sandy Bay.

On offer are twelve units on two separate titles currently leased as student accommodation returning approx. $109,000 per annum. With the option to retain as a high yielding income property or the possibility to stratum title each unit, the development potential for the property is significant (STCA).

The complex is configured into six one bedroom units and six bedsit units over three levels on a corner allotment with access from both Churchill Avenue and Derwentwater Avenue. Off-street parking for up to six cars with further potential for parking available.

The property is being offered with vacant possession at the end of November 2016. Located close to the University of Tasmania, Hutchins School, public transport and within walking distance of all local amenities.

Expressions of Interest closing 1st August 2016 at 5pm.