Adult basement in the heart of Launceston spices up the market
Located in the basement of one of Launceston’s most popular inner-city districts is an adult shop that has been raising eyebrows for decades and has recently come onto the market.
Shops 13 and 14 at 187-189 Charles Street are now on the market, presenting a dual-title opportunity just one block from the heart of the city in northern Tasmania. The 75-square-metre property is listed for $300,000, excluding GST, and is well positioned for buyers seeking versatility in a market where comparable stock is seldom released.
Ben Galvin of Howell Property Group says the appeal lies in both the location and the range of future options available to the incoming owner.
“At its core, this is a chance to secure a property in the Launceston CBD at a price point that’s becoming increasingly hard to find,” Galvin says.
“The site itself is versatile; a buyer can either continue with the existing business, which is surprisingly profitable for something that runs with just one staff member, or they can repurpose the space entirely.
“It would work really well as a small office, a niche retail space, or even a consulting suite. You’re basically buying flexibility in a location that rarely comes up.”
Galvin says properties on this scale and under this zoning are particularly scarce in this part of the Launceston CBD, where owners tend to be long-term holders.
“Most owners just don’t let them go,” he says. “So when something like this does hit the market, with good access, undercover entry and only a block from the centre of town, it definitely stands out.”
The property has operated as an adult retail business for several decades, establishing a long trading history within the Launceston market. The new owner has the option to continue operating the business, subject to standard compliance and licensing requirements, as the vendor is open to including the business as part of the sale to allow for a seamless transition.
However, Galvin says the asset’s underlying value extends well beyond its current configuration.
“If the business itself isn’t appealing, the space is flexible enough to take in a completely different direction,” he says. “The fundamentals of the site are solid, and it offers genuine [options] in a CBD location that rarely becomes available.”
