71-73 King Street, Sandy Bay TAS 7005

Knight Frank is pleased to present this rare buying opportunity to the market.

Built circa 1885, this double brick terraced property is conveniently located within a stones throw of the renowned Sandy Bay restaurant and Shopping Village.

The property is zoned Inner Residential under the City of Hobart planning scheme 2015 and has an existing use rights under house and shop.

71 King Street is currently leased commercially on a 3 year term that commenced 8/7/2016 at $33,372 gross per annum plus GST per annum with fixed increases annually of 3%.

73 King is currently vacant and has most recently been leased out residentially at an annual rate of $25,740 gross per annum.

The current owners undertook an expansive makeover of the property with new bathrooms, kitchen, floor coverings and painting throughout.

This property has an array of potential upside and is a rare opportunity within one of Hobarts most recognised and sought after locations.