Gibson's Mill Apartments, 17 Morrison Street,
Hobart, TAS 7000
Hotel, Motel & Leisure
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Elders Real Estate - Hobart
5 Victoria StreetHOBART, TAS 7000
03 6220 69...
Gibson's Mill Apartments, 17 Morrison Street
Hobart, TAS 7000
Map of Gibson's Mill Apartments, 17 Morrison Street
Quality Apartments on the Hobart Waterfront
- INVESTMENT SALE
INVESTMENT SALE:
Gibson's Mill is a historic landmark. Built Circa 1860 as Hobart's predominant waterfront flour mill, the building was owned and operated by the Gibson family for over 100 years.
In 2010 the building was converted from offices to 12 luxury apartments; 6 x one bedroom, 5 x two bedroom and a three bedroom penthouse with 180 degree views.
Accommodation is spread over 3 floors plus 2 levels of car parks.
Total floor area is 300sqm per floor (900sqm of accommodation).
Located in the restored Gibson's Flour Mill building only a stone's throw from the docks and Salamanca Place; and opposite the ferry terminal which takes tourists to the wold class MONA museum.
The apartments have been superbly designed to incorporate many features of the historic mill within a modern apartment.
All of the apartments have luxurious fit-outs including king beds, full kitchen and laundry facilities, large living areas and decor.
Annual revenue is $906,224 with a very high net profit.
Council has recently approved a strata title of the complex whereby the 12 apartments could be sold individually and used for permanent residential occupation.
The Sullivan's Cove Waterfront area is Tasmania's strongest investment market.
Annual rent of $460,000 (plus GST) will provide a net yield of 6%.
Gibson's Mill is a historic landmark. Built Circa 1860 as Hobart's predominant waterfront flour mill, the building was owned and operated by the Gibson family for over 100 years.
In 2010 the building was converted from offices to 12 luxury apartments; 6 x one bedroom, 5 x two bedroom and a three bedroom penthouse with 180 degree views.
Accommodation is spread over 3 floors plus 2 levels of car parks.
Total floor area is 300sqm per floor (900sqm of accommodation).
Located in the restored Gibson's Flour Mill building only a stone's throw from the docks and Salamanca Place; and opposite the ferry terminal which takes tourists to the wold class MONA museum.
The apartments have been superbly designed to incorporate many features of the historic mill within a modern apartment.
All of the apartments have luxurious fit-outs including king beds, full kitchen and laundry facilities, large living areas and decor.
Annual revenue is $906,224 with a very high net profit.
Council has recently approved a strata title of the complex whereby the 12 apartments could be sold individually and used for permanent residential occupation.
The Sullivan's Cove Waterfront area is Tasmania's strongest investment market.
Annual rent of $460,000 (plus GST) will provide a net yield of 6%.
Hobart, 7000 demographic data
The median household income for Hobart is $1,464, 5% lower than Greater Hobart's household income of $1,542. Hobart has a younger age profile compared to the rest of Greater Hobart (median age 31 vs 39). Property ownership data shows 38% of property owners in Hobart have a mortgage.
3,390
Population
$1,464 per week
Median household income
31 years
Median age
Renters
Most residents
Families
Most households
Elders Real Estate - Hobart5 Victoria Street
HOBART, TAS 7000
HOBART, TAS 7000
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