Historic High Street, Campbell Town, retail opportunity

Alistair WalshOctober 16, 20120 min read

The old pharmacy building in Tasmania’s Campbell Town has been listed for sale with an asking price of $495,000.

The double-fronted red brick retail residence is the former Campbell Town Pharmacy and comes attached to a four-bedroom residence on 250 square metres.

Marketing for the property suggests that, subject to council approval, the second residence could be used as a separate business and comes with “park like” gardens.

The historic double-storey home fronts onto High Street, the main street in the Midlands town.

It is being sold by Gordon Humphreys from Harrison Humphreys Launceston, who says the pharmacy once operated as a stand-alone shop but it has been vacant for some years.

"Currently the previous owner of the pharmacy lives in the house," he says.

It comes with off-street parking, a 59-square-metre double garage.

The town lies on the major highway between Hobart and Launceston.

The home part of the lot comprises four bedrooms, a bathroom, a washroom, a kitchen and a sitting room.

The retail portion is 96 square metres, and the total land size is 936 square metres.

There are more than 100 century-old colonial buildings in the town, which was established in 1820.

The most recent sale on High Street Campbell Town was a two-level weatherboard building at 108 High Street, which sold for $190,000 in October last year having last sold for $172,000 in 2006.

The 1965-built former milk bar is currently operating as a tourist shop.

And Zep's Cafe at 92 94 High Street was recently listed through LJ Hooker Hobart.

The listing advertised net yields of 9.75% for the restuarant and conference centre.

The 941-square-metre property earned $78,000 per annum. Given the indicated yield, the asking price would have been around $800,000.

The pharmacy building is close to the Red Bridge – the oldest convict-built red brick bridge in Australia, which was originally constructed for horse-drawn vehicles, and is now crossed by up to 2 million vehicles a year.

The pharmacy is not listed on the Tasmanian heritage database.

Alistair Walsh

Deutsche Welle online reporter
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