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63-65 Gilbert Street Latrobe TAS 7307

  • Other
  • 679 m²
  • For Sale, $670,000 (excl. GST)

Latrobe Art Apartments - A Gem of an Opportunity.

    In the heart of Latrobes historic central shopping, dining and tourism precinct presents Latrobe Art Apartments, a revitalised, ready made lifestyle and business opportunity. The versatility for the operation of the venue is a major drawcard. Heritage listings for Latrobe indicate the property business origins as Circa 1881, however the properties original footprint is believed to be in the early 1870s. This landmark property is now offered as stylish accommodation apartments for a new owner to add their footprint to the rich history of Latrobe. Four individually styled guest apartments now cater to clients seeking a short term home while experiencing Latrobe and surrounds.
    Recently renovated and launched as guest accommodation catering for short term tourism and corporate guest reservations. For many years, in fact since 1881, the home to Latrobes prominent Jewellery store for over 130 years has now been transformed by the vendor. A vision of creating a high quality apartment complex at the very centre of Latrobe, catering for the constant flow of clientele wishing to stay in this historic town and stroll between the features and attractions at their leisure is now operational. The Great Western Tiers, Cradle Mountain, Mount Roland and Lake Barrington are literally and figuratively at the doorsteps of the property.
    Each of the apartments has been given a regional theme associated with natural geographic landmarks and tourism drawcards. The apartments have been designed to highlight many of the historic features of the buildings origins, as well as to provide a medium to showcase numerous of the celebrated art works of the vendor; many produced in her public gallery just a short walk from the apartments, and is one of the many central tourist attractions of Latrobe (The artworks on display in the apartments are not included in the advertised purchase price of the property).
    The fully furnished apartments sleep 2 to 3 adults in standard reservations, with capacity for additional sleeping. There is also capacity to increase the living/sleeping capacity of two of the units by use of adjoining rooms not currently in service, or to treat as permanent living quarters in concert with business operations. The additional rooms have been maintained vacant so as to be available to display Artworks if desired to passing foot traffic. The full potential of Latrobe Art Apartments, whether as guest accommodation or with the inclusion of other business options has yet to be fully realised. The guests of all four apartments are also provided access to a communal laundry for use while in residence, and private off street parking is available for all apartments.
    The vendor had a vision for the property that would eventually create opportunity for a new owner and allow a level of potential still to realised according to the desires of a new owner. The property (260 square metres approximately) has been transformed over the past 5 years, and operated for the past two years; initially with three, and now four apartments on a limited basis as a secondary or supplementary operation to the vendors core enterprise. Current room rates for the 4 apartments range from $129 to $199 per night. The nature of the renovations as intended by the vendor, were created to allow versatility for further or alternative business options (STCA if required) of the remainder of the facility.
    Latrobe Art Apartments are being sold fully furnished in an operational status (Walk In, Walk Out) ready for a new owner to take over and implement their own business model (with the exception of the displayed artworks, and display furnishings in the shopfront rooms). Any changes from the current accommodation modelling to utilise the frontage commercially may require additional council permissions and prospective clients should perform their own due diligence in this regard. This is an enterprise that certainly has the potential to lift its business potential to a significantly higher capacity with an owner whose intended use was to maximise the potential occupancy and turnover capability. As Latrobe Art Apartments are currently operational for guest stay, inspections of the property are strictly by appointment with the listing Agent, and will be governed by occupancy levels regarding access to individual areas.
    Latrobe is one of the North West Coast gateway towns to many of Tasmanias high profile destinations and is a popular stop-over destination for people entering or departing the state via the Spirit of Tasmania or northern airports. Latrobe has a very strong local trade and for many years has been a popular destination with its variety of culinary, historic and market options. With the walking trails along the banks of the picturesque Mersey River (also popular with local fishing enthusiasts), along with the opening of the Wild Mersey mountain bike trail, a range of leisurely and active recreational drawcards are also on the doorstep.
    Sushames Real Estate trusts in the information in this document which has been sourced from means which are considered reliable. Prospective purchasers are recommended to carry out their own due diligence regarding permits, measurements and boundary positions prior to settlement.

    Property Highlights

    Property ID2016537727
    Floor AreaAsk Agent
    Land Area679 m²
    Parking5 x Onsite parkings
    Building TypeWhole building
    Annual ReturnAsk Agent
    AvailabilityVacant
    Category
    Last updated  8 Oct 2020
    Map for 63-65 Gilbert Street Latrobe TAS 7307
    Map for 63-65 Gilbert Street Latrobe TAS 730763-65 Gilbert Street Latrobe TAS 7307
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    • Purchase price

      $
      670,000

    • Deposit available

      $
      123,456

    • Loan term

      30
      years

    • Interest rate

      3.00
      %

    repayments

    $0/month*

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    Property Highlights

    Property ID2016537727
    Floor AreaAsk Agent
    Land Area679 m²
    Parking5 x Onsite parkings
    Building TypeWhole building
    Annual ReturnAsk Agent
    AvailabilityVacant
    Category
    Last updated  8 Oct 2020
    Sushames Real Estate
    153 William St Devonport TAS 7310

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