| Elphin Villas are located on the fringe of Launceston’s CBD. Close to Sporting venues and healthcare providers, the property is popular with corporates, tourists and visitors to this regional centre. |
Launceston is the capital of Tasmania’s north being the largest city there as well as an important centre for government, healthcare, agriculture (especially dairy and food).
Launceston has been performing poorly for nearly a decade but has recently upgraded its airport and Tasmania has taken out a disproportionate share of recent Australian tourism awards. As the gateway to Cradle Mountain, Tamar Valley and other attractions, Launceston has grown in prominence over the past year and is starting to attract increased visitors.
Many motel properties in Launceston are tired and in need of renovation and are properly located with inadequate parking. Elphin Villas is able to be upgraded fairly easily and can capitalise its unique to increase occupancy and rate with minimal capex. The self-contained units are very popular and relatively rare in the town.
With a wide range of flexibility configured self contained accommodation and adequate parking. TARHF see an opportunity to buy into the low point of the cycle, upgrade the property and yields.
