242 Charles Street Launceston, TAS, 7250

Premium Mixed-Use Investment | 4 Income Streams in Prime Charles Street Location

Elders Commercial is proud of exclusively offer a premium mixed used asset - home to the renowned Cafe Mondello and three boutique accommodation units.

The property is for sale via Expressions of Interest closing 8 September 2026.

Key property and investment highlights include:

+ The property is positioned in a highly sought-after section of Charles Street, directly between the Launceston Central Business District and the Launceston General Hospital. This strategic location benefits from constant foot traffic and strong underlying demand from both commercial patrons and short-stay accommodation guests.
+ The asset provides four distinct income streams, comprising a well-established hospitality tenancy and three boutique residential accommodation units. This diversified structure reduces reliance on a single tenant and enhances overall income security.
+ The ground floor is occupied by Café Mondello, a long-standing and highly regarded Launceston operator. .
+ The three self-contained apartments are positioned to capture sustained demand from medical staff, business travellers, and visitors. Their proximity to major infrastructure and lifestyle amenity supports ongoing occupancy and steady short-term accommodation income.
+ The Urban Mixed Use zoning supports a wide range of uses including hospitality, commercial, and residential accommodation. This provides future flexibility for owner-occupiers, investors, or value-add strategies over time.
+ The building has been substantially upgraded into a high-quality mixed-use format. The combination of modern accommodation and a fully fitted hospitality space reduces the need for immediate capital investment by an incoming purchaser.
+ The inclusion of three on-site car parks is a valuable feature within this inner-city location, improving accessibility for tenants and guests and further supporting the property’s overall functionality and appeal.

Please contact Fletcher Seymour or Rodney Rawlings for more information or to arrange an inspection.