North Hobart at a glance
2,769
People
$840,000
Median sale
$579/wk
Median rent
3.58%
Suburb gross yield
Median sale from 10 recorded sales (last 12 months) — a Districts calculation.
TAS › North Hobart › Elizabeth St
$1,950,000
Last sold
25 Feb 2025
16
Bedrooms
15
Bathrooms
3
Car spaces
1,295 m²
Land
857 m²
Building
Districts View
No detected risks — but see the checklist: absence of evidence is not an all-clear.
Each line above is labelled. A fact is quoted from the named source, with its date. A calculation is worked out by Districts from those facts — you can check the arithmetic. An interpretation is Districts' opinion of what the evidence means, not a fact, a valuation, or advice. Anything we haven't retrieved yet is marked as missing rather than treated as a pass.
Price evidence
Last sold
$1,950,000
25 Feb 2025 · derived via latest_sale
Local land rate: recorded House sales in North Hobart (last 5 years) with land size have a median of $3,401/m² of land (n=55). Districts calculation from recorded sales — not a valuation.
North Hobart at a glance
2,769
People
$840,000
Median sale
$579/wk
Median rent
3.58%
Suburb gross yield
Median sale from 10 recorded sales (last 12 months) — a Districts calculation.
Vs North Hobart
+132.1%
Median sale
Suburb $840,000
-2.04 pp
Gross yield
Suburb 3.58%
Suburb median $840,000 from 10 recorded sales (last 12 months) — a Districts calculation, not a portal figure.
Planning
Planning scheme
Hobart Local Provisions Schedule
Zone
Urban Mixed Use
114.13
Jurisdiction
Hobart
Hobart, TAS
Data unavailable
Source
Planning facts are copied from official government GIS where available. Where an official property PDF exists (VicPlan, PlanBuild), Districts stores and serves that original document. Neither is a planning certificate, survey, or advice.
Site
Terrain has not been calculated for this property yet.
Slope is calculated on a projected metric grid from a public DEM clip of the official parcel. This is not a survey, engineering, or insurance assessment.
Flood exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Bushfire exposure has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Heritage listing has not been retrieved from any source for this property yet. Unknown is not the same as clear.
Records
Events are recorded observations from public listings, kept with their source and date. Missing values are shown as unknown, never estimated.
Capital growth
TASZoned Urban Mixed Use · 114.13 (Hobart Local Provisions Schedule). Official parcel area about 1,266 m². Dual occupancy is not confirmed from the controls loaded for this lot. Two-lot subdivision is unknown without minimum lot size and frontage. This is a screen, not a planning certificate. Zoning and lot facts are a starting point, not proof this lot outperforms the suburb. Funded catalyst catchments are not loaded. A TOD badge is not this product.
Flood overlay has not been queried for this lot. Missing layer is unknown, not “no.” Minimum lot size is not loaded, so two-lot subdivision is not confirmed. Nearby development applications are not loaded for this property.
Rental
No advertised rent is recorded. Suburb median rent $579/week — not this address. An inferred likely-rent range is not shown until official bond series are loaded for this dwelling type and bedrooms.
Current comparable rental listings within 400 m of this lot are not loaded. Nearby development applications are not loaded for this property. Supply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded. Suburb vacancy or leased-tape days are not this property’s competition.
Yield cannot be shown without both a price and a rent figure. Net yield is not estimated from gross advertising copy. Net yield / holding costs are not estimated outside NSW without inventing land tax.
Verdict
Districts view
Not enough official evidence yet to underwrite this as an investment.
Detail
The same ten questions apply to every property. Missing flood, nearby DAs, achieved rents, or lot geometry is unknown — not “no.”
Do not treat a suburb median, an advertised yield, or a listing score as the case for this lot.
The evidence loaded so far isn't enough on its own to change a buy, offer, or walk-away decision for this property.
Evidence
Districts asks the same ten questions of every property. If one shows as unknown, that data isn't published for this state or hasn't been loaded yet — the question stays visible so you can see exactly what's missing.
3 of 10 questions answered so far
Development optionality of this lot
KnownmediumZoned Urban Mixed Use · 114.13 (Hobart Local Provisions Schedule). Official parcel area about 1,266 m². Dual occupancy is not confirmed from the controls loaded for this lot. Two-lot subdivision is unknown without minimum lot size and frontage. This is a screen, not a planning certificate.
Nearby development pipeline
UnknownNearby development applications are not loaded for this property.
Honest achievable rent
KnownlowThis is not “bond data says this address leases for $X.” The comparable figure is a suburb advertised/median rent, not this property. Official bond files (postcode or suburb × type × bedrooms) are not loaded yet.
Rental supply pressure
UnknownSupply pressure needs comparable listings near this lot plus a nearby DA pipeline. Neither is loaded.
Why is this cheap?
KnownmediumOfficial parcel about 1,266 m² — land size can look like optionality. No material overlays were returned that would explain a discount. That is not proof the price is fair. Nearby DAs, easements, and flood-layer gaps can still explain a cheap-looking listing — those are not all loaded.
Lot-level flood
UnknownFlood overlay has not been queried for this lot. Missing layer is unknown, not “no.”
Catalyst exposure
UnknownFunded catalyst catchments are not loaded. A TOD badge is not this product.
This lot's DA history
UnknownNo DA adapter returned applications for this parcel.
Statutory land value versus ask
UnknownStatutory land value is not available as free bulk data in this jurisdiction. Do not fake it with a suburb median.
Net yield / holding costs
UnknownNet yield / holding costs are not estimated outside NSW without inventing land tax.
Area
North Hobart at a glance
2,769
People
$840,000
Median sale
$579/wk
Median rent
3.58%
Suburb gross yield
Median sale from 10 recorded sales (last 12 months) — a Districts calculation.
Listing material
Listed by Harcourts HobartSituated on the corner of Elizabeth Street and Warwick Street, stands "Melbourne Lodge," one of Tasmania's oldest residences. Constructed by convicts around 1829, this sandstone Georgian mansion was built for John Stracey, the colony's first auctioneer, but soon began a new life as a private boys school. The Warwick Street wing was added in 1835 to help expand the school's accommodation, however, the honourable George Salier soon purchased the property and again made more renovations and additions to house his large family of 14 children and numerous servants. George and his wife Harriett lived out their entire lives in their luxury home and when George passed, one time Tasmanian Premier Honourable Adye Douglas MLC, became the new custodian, before the property resumed its educational links to become the Hobart Ladies College. In 1992, a major renovation project was completed, and Melbourne Lodge began its new life as a boutique hotel. This theme has been continued by its current owners, with The Lodge on Elizabeth currently being leased as a Heritage Bed and Breakfast facility.
Available as a freehold sale with option to purchase the business, this property is a must inspect for investors seeking a large CBD footprint with a stable yield and high capital growth potential. The current lease is 5 years plus options for another 15, with rent at approximately $100,000 per annum.
Developers may see an opportunity to take advantage of the mixed urban zoning and repurpose into medical rooms, offices or similar (STCA). For those wishing to semi-retire with a steady passive income - short/long term accommodation or a wedding/function centre, is perfectly suited to this grand old manor (STCA).
Once inside this magnificent building, you are greeted by a glorious entry hall, bisecting two large living spaces, one of which is currently being utilised for dining. These spaces are warm and inviting, featuring decorative fireplaces, soaring ceilings, stunning refurbished timber floors, chandeliers and an all-encompassing sense of history and heritage. An adjacent kitchenette space provides an opportunity to upscale the catering amenity if required.
The ground floor accommodation comprises 10 large bedrooms, each with its own ensuite and connected by that meandering, expansive hallway.
There are 3 capacious, master bedrooms upstairs, all with granite laden spa ensuites, 2 of which have direct access to a splendid grand veranda. Two more of these original rooms have since been converted into a more modern apartment, complete with 2 bedrooms, lounge, master bathroom and sleek kitchen.
The property is underpinned by a breathtaking courtyard garden, absolutely stunning and a very rare treat within the city confines. This manicured oasis provides entry to the adorable convict cottage, thought to be originally used as a servant's quarters. This cute and cosy space has since been converted into a fully self-contained heritage hideaway.
The basement is both fascinating and practical, providing a huge storage space as well as three undercover car parks, accessed through Warrick Street. The exposed sandstone convict bricks provide a rare insight into our early history, each brick marked as a signature from its maker.
The Lodge is centrally situated just a 3-4 minute walk to over 50 North Hobart restaurants, cafes. food establishments, pubs, bars and craft breweries. A 10-minute stroll along Elizabeth Street will find you in the centre of Hobarts CBD, whilst just a few more minutes will have you arriving at the famous Hobart waterfront precinct. This truly is a remarkable opportunity for you to own a significant piece of Tasmania's heritage architecture, so please contact me to arrange your private tour and inspection.
The Lodge on Elizabeth is listed with the National Trust and forms part of the National Estate.
• Grand Georgian mansion, built from sandstone in 1829 by convict crews.
• 13 large bedrooms all with ensuites and heritage features
• Capacious hallways, spacious living rooms, original floors
• Self-contained convict cottage
• Modern, fully self contained 2 bedroom apartment
• Stunning courtyard garden, central to the 1295m2 land parcel
• 3 undercover car parks, huge basement storage
• Zoned Urban Mixed Use - Hobart Interim Planning Scheme 2015
Currently leased at approx $100K P.A. - 5 years remaining plus options for another 15.
Council Rates: $11,554 (Approx p.a.)
Water Rates: $5,000 (Approx p.a.)
Disclaimer: Every effort has been made to ensure the accuracy of the information contained here in. While there is no reason to doubt it's accuracy, guarantee can not be assured. The content is intended as advice and such as can not be taken as absolute fact. Accordingly all interested parties should make their own enquiries to verify this information
Listing description written by Mark Weaver, Harcourts Hobart — reproduced as published, not verified by Districts.
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