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404/156 Bathurst Street, Hobart TAS 7000

$165,000

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$165k - $173k Transparent Transparent Listing Based on an openly advertised listing price.

Apartment 1 Bed 1 Bath 30 m²

Listed: 7 days ago

Overview

This apartment provides an appealing investment opportunity with a secure long-term lease and reliable returns, located within the Best Western Hobart complex. Occupying a modest 30 square meters, the one-bedroom unit offers a manageable footprint that attracts investors seeking low-maintenance assets with consistent income.

The security of the lease, extending until June 2035 with an option to renew to 2045, ensures income stability and reduces the risk typically associated with rental investments. Importantly, rental returns are derived from the overall hotel accommodation and car parking revenues rather than individual unit occupancy, further enhancing reliability and protecting investors from vacancy fluctuations.

Residents and owners benefit from the convenient facilities of Best Western Hobart, including conference and function rooms, a bar and restaurant, which creates a vibrant environment and contributes to the property's desirability among visitors. The location offers easy access to central Hobart, the Salamanca Markets, and waterfront attractions, augmenting the unit's appeal to tourists and business travelers alike.

Projected gross returns of approximately 8.5% based on 2025/2026 figures, and net returns around 7.5%.
Owners bear responsibility for land tax, council rates, and strata levies, estimated at around $1,943 annually per unit.
Investors also receive four nights of complimentary accommodation each year, adding value to ownership.

This type of investment is particularly suited to those seeking a 'hands-off' approach to property with a steady income stream supported by a reputable hotel operator. Although photos provided are of the hotel generally and may not depict the specific unit, they offer a representative insight into the accommodation quality.

Given the limited availability of such units within the complex, this opportunity is well-positioned for investors looking to enter the Hobart market with a set-and-forget strategy.

Local Market Insights

In Hobart, Quiet Listings observed 6 new apartments entering the market over the last 30 days, with an average advertised asking price of $425,833. The property type mix of listed properties is predominantly Houses at 60%, followed by units (13%), and apartments (13%). The most active agency for apartments in the Hobart area is currently EIS Property, representing 33% of new listings, followed by Petrusma Property – Sandy Bay with 17%. 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.