Tasmanian rentals: At $1500/week, Kingsway Arcade, Launceston, is state’s dearest
It’s in the middle of the CBD, is located over three storeys, has a secure off-street garage, possesses a central atrium and comes furnished with bespoke furniture and wall art. PICS + VIDEO >>
Real estate
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It’s just metres away from Launceston’s Brisbane St Mall, is located over three storeys, has a secure off-street garage, possesses a central atrium and comes fully furnished with bespoke furniture and specifically commissioned wall art.
The only catch? Rent comes in at a cool $1500/week.
Knight Frank Launceston’s Naaman Fraser, the agency’s head of rental department, said the three-storey, three-bedroom apartment on Kingsway, built in 2019 and hitting the rental market for the first time, was sui generis – one of a kind.
“Something like this on the rental market is pretty unheard of,” he said.
“We’re seeing if we can get the right tenants, someone who can pay this money for a purpose.
“They’re probably going to come from the mainland. I’d like to see them come from this state, but I think that’s unlikely.”
Mr Fraser said the apartment’s owners “moved to Tasmania some time ago, roughly in the last five years”.
“They fell in love with Tasmania very much, just from speaking with them, that’s why they’ve stayed and built their future here. They’re a lovely couple,” he said.
The owners continue to live within the state and “used this as their town pad”. It’s understood they purchased the apartment for between $1–$1.25m in early 2020, plus have spent a further $500,000 on furnishings and fixtures.
“Kingsway comes fully furnished with custom-made imported furniture and unique photography/art specifically commissioned by the owners, featuring different historical places throughout Launceston,” Mr Fraser said.
“It’s beautiful the way they’ve dressed it, it comes exactly the way it’s seen in the listing.”
A key feature of the apartment was its soundproofing, Mr Fraser said.
“The sound deadening it comes with – it is very, very quiet for its location, which is literally metres away from Brisbane St Mall,” he said.
“You’re inside and you can’t hear a thing. It was designed specifically like that.”
Other features of Kingsway include two natural gas log fires, a Sonos sound system, an internal lift, on outdoor terrace, a central atrium, and double-glazed windows.
Kingsway is being listed for more than $500 more than the highest price Knight Frank has ever achieved for a rental, which was approximately $930/week, Mr Fraser said.
According to realestate.com.au, Kingsway is officially the most expensive rental property currently on the market – the next dearest is a tie between 4 Trumpeter St, Battery Point, and 53 Salamanca Sq, Battery Point. Both are listed for $1200/week.
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