Forum Opportunity in Launceston!!!

Not sure how to post this but here goes!!!

Due to relocation to Melbourne I am reluctantly offering for sale Cosy Homestead. I am giving an exclusive pre agent listing to forum members…

Property:
16 Room Boarding House with 2 bedroom attached Caretakers Residence.
Land:
Approx 1800 sqm.
Location:
Launceston Tasmania.

The front main building consists of 10 bedrooms, a communal kitchen, large informal dining and lounge area containing 4 dining tables and chairs with 2 lounges and TV.

Separate male and female communal toilets located at end of hallway with 2 shower cubicles and 2 toilet cubicles.

Laundry area with tub, new large washing machine and built in cupboards.

5 bedrooms consisting of room with small hand basin and built in robe. These 5 rooms contain double beds, med size fridge, TV, small heater, kettle and bed linen.

4 slightly larger rooms which have an internal shower, 2 with double beds and 2 with double bed and single bunk above, med size fridge, TV, small heater, kettle and bed linen.

1 larger room with full en suite, double bed with single bunk above, 2 single beds, large fridge, TV, small heater, kettle and bed linen.

The older rear building consists of 6 bedrooms, a communal shower over bath toilet cubicle and a shower over bath cubicle and a washing machine with a small locked storage area.

3 rooms contain double beds, small vanities, med fridge, TV, small heater, kettle and bed linen.

2 rooms contain double beds with single bunk above, single bed, small vanities, med fridge, TV, small heater, kettle and bed linen.

1 room contain double bed with a single bunk above, small vanities, med fridge, TV, small heater, kettle and bed linen.

All rooms rent for between $185 - $195 per week or $69 per night for a single person and upto $245 per week or $109 per night for the larger rooms.

These rooms have been in high demand and have a very high occupancy rate. Current annual gross rent between $145 - $150K!!!

The caretakers residence has been mostly renovated and updated to include 2 bedrooms, modern kitchen, lounge with small storage room off the side, bathroom with modern enclosed shower and toilet, laundry area with access to rear landscaped courtyard and small grassed area. Secure parking for 2 cars behind new colorbond fence and roller door. Also a 3m x 3m garden shed.

Also there is an opportunity to have the caretakers residence fully furnished!!!

No meals are provided it is a board only property.

The property is located on a main bus route and has a local IGA supermarket located next door.

I have owned and operated this property since mid 2007, the 1st 3.5 years it run quite well with a caretaker in place to oversee the day to day operations. We took over complete operation approximately 18 months ago and have completed extensive renovations.

All figures are available and the property has shown a steady increase in rents over this period.

Feel free to fire questions, i will endeavor to answer as informative as possible!!!
 
I cannot see what price you are asking? Wouldn't that be rather important to put in the post? :D

... unless I have somehow missed it...?
 
I cannot see what price you are asking? Wouldn't that be rather important to put in the post? :D

... unless I have somehow missed it...?

No wylie you haven't missed it.... i thought i would leave it open for forumites to value and do a bit of due diligence!!!!

I have a fair and reasonable price in mind and am open to offers based on a reasonable and sound basis!!!

There are numerous ways an IP like this can be valued and they all have their pros and cons... some of the more experienced might weigh in and offer some valuation thoughts!!!
 
Not sure how to post this but here goes!!!

Due to relocation to Melbourne I am reluctantly offering for sale Cosy Homestead. I am giving an exclusive pre agent listing to forum members…

Property:
16 Room Boarding House with 2 bedroom attached Caretakers Residence.
Land:
Approx 1800 sqm.
Location:
Launceston Tasmania.

The front main building consists of 10 bedrooms, a communal kitchen, large informal dining and lounge area containing 4 dining tables and chairs with 2 lounges and TV.

Separate male and female communal toilets located at end of hallway with 2 shower cubicles and 2 toilet cubicles.

Laundry area with tub, new large washing machine and built in cupboards.

5 bedrooms consisting of room with small hand basin and built in robe. These 5 rooms contain double beds, med size fridge, TV, small heater, kettle and bed linen.

4 slightly larger rooms which have an internal shower, 2 with double beds and 2 with double bed and single bunk above, med size fridge, TV, small heater, kettle and bed linen.

1 larger room with full en suite, double bed with single bunk above, 2 single beds, large fridge, TV, small heater, kettle and bed linen.

The older rear building consists of 6 bedrooms, a communal shower over bath toilet cubicle and a shower over bath cubicle and a washing machine with a small locked storage area.

3 rooms contain double beds, small vanities, med fridge, TV, small heater, kettle and bed linen.

2 rooms contain double beds with single bunk above, single bed, small vanities, med fridge, TV, small heater, kettle and bed linen.

1 room contain double bed with a single bunk above, small vanities, med fridge, TV, small heater, kettle and bed linen.

All rooms rent for between $185 - $195 per week or $69 per night for a single person and upto $245 per week or $109 per night for the larger rooms.

These rooms have been in high demand and have a very high occupancy rate. Current annual gross rent between $145 - $150K!!!

The caretakers residence has been mostly renovated and updated to include 2 bedrooms, modern kitchen, lounge with small storage room off the side, bathroom with modern enclosed shower and toilet, laundry area with access to rear landscaped courtyard and small grassed area. Secure parking for 2 cars behind new colorbond fence and roller door. Also a 3m x 3m garden shed.

Also there is an opportunity to have the caretakers residence fully furnished!!!

No meals are provided it is a board only property.

The property is located on a main bus route and has a local IGA supermarket located next door.

I have owned and operated this property since mid 2007, the 1st 3.5 years it run quite well with a caretaker in place to oversee the day to day operations. We took over complete operation approximately 18 months ago and have completed extensive renovations.

All figures are available and the property has shown a steady increase in rents over this period.

Feel free to fire questions, i will endeavor to answer as informative as possible!!!

Hi Watto
Its appears that you need to be living nearby to make this work, even with a caretaker in place as this is really a business??

Cheers, MTR
 
Does a boarding house in Tas require all of the high-level fire safety equipment and infrastructure as needed here in QLD?

If so - I assume it meets all code requirements?
 
Does a boarding house in Tas require all of the high-level fire safety equipment and infrastructure as needed here in QLD?

If so - I assume it meets all code requirements?

No Fire requirements are quite relaxed in Tassie, as long as you have the required number Fire Extinguishers, blankets and smoke detectors and they are serviced every 6 months your are all good!!!
 
Hi Watto
Its appears that you need to be living nearby to make this work, even with a caretaker in place as this is really a business??

Cheers, MTR

It will def be looked as a business loan as either you or your caretaker needs to "run" the joint, given it's mostly short term rents...
 
Top