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292 Park Street, New Town TAS 7008

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$1.8M - $1.9M Medium Confidence Calculated based on our search observations.

Apartment 8 Beds 4 Baths 6 Cars 530 m² 295 m²

Listed: 16 days ago

Updated: 7 hours ago

Overview

This exceptional property in New Town offers a rare investment or multi-generational living opportunity in the form of four fully renovated, self-contained luxury apartments housed within a classic 1940s brick building. Each apartment features two bedrooms, a bathroom, living, dining, and kitchen areas, all refurbished to a high standard with double glazed doors and windows contributing to comfort and energy efficiency.

Set on a single title with a land area of approximately 530 square meters and a floor space of about 295 square meters, the Rose Court Apartments provide flexibility for future subdivision (subject to council approval), making this an appealing prospect for investors seeking strong rental returns or families desiring close yet independent living quarters. The property currently operates as licensed visitor accommodation, presenting a distinctive passive income potential.

Occupants will appreciate the private outdoor entertaining areas for each unit, supporting a lifestyle that balances indoor comfort with outdoor enjoyment. The location is outstanding, positioned close to Hobart's city center and the vibrant North Hobart restaurant strip, alongside convenient access to schools and transport, allowing residents easy access to amenities while enjoying a peaceful, community-oriented suburb known for its tree-lined streets.

Constructed of durable double brick with a Colorbond roof and heated by electric systems, the building harmoniously blends heritage charm with modern convenience. Whether catering to investors, extended families, or those interested in visitor accommodation, this property stands out for its combination of classic character, thoughtful refurbishment, and prime location in one of Tasmania’s favored districts.

Local Market Insights

In New Town, Quiet Listings observed 3 new apartments entering the market over the last 30 days, with an average advertised asking price of $870,000. The property type mix of listed properties is predominantly Houses at 48%, followed by units (16%), and land (16%). The most active agency for apartments in the New Town area is currently EIS Property, representing 67% of new listings, followed by Petrusma Property – Sandy Bay with 33%. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.

While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.