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Launceston, Freehold & Business, 56 Wellington Street

Freehold & Business for Sale

$950,000 No GST

Listing Number: VRN2782
About this listing
Tightly held by the owner and now being offered to the open market for the first time in 30 years - 54-56 Wellington Street (best known as Calabrisella Italian Restaurant) is a fantastic offering that holds appeal to not only the investment market but also the owner occupier - the business / plant and equipment is also included WIWO.

The property consists of the restaurant on ground floor made up of three dining areas (one with opening roof), disability access facilities, commercial kitchen that has recently had a $180k update and parking at the rear. Upstairs are two well-appointed residential units that are currently leased out at $160pw and $200pw - the units are tidy however dated; potential for some upside here does exist.

The Calabrisella business / plant and equipment is also included in the sale. The business has been operating for nearly 40 years now (Est 1979) and has been an absolute staple in the Launceston restaurant scene. This is a great opportunity for the owner operator to purchase a well-established business with a passive residential income stream, or the investor to either employ a manager or lease.
Property Information
  • Property Type: Restaurant / Cafe, Other (Freehold & Business)

Contact Details

NAI Harcourts Rinnovate

196 Corio Street
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