23 Bromley Street, Bridgewater TAS 7030

Corner block 755sqm | General Residential zoning | 15% annual value growth | 5%+ rental yield | Bridgewater heart The buying case rests on the corner-block configuration and General Residential zoning, which together give a buyer rare optionality. At 755 square metres, the land is larger than typical infill lots in Bridgewater, and the zoning permits a dual-occupancy or small-unit development without a planning amendment. That structural advantage is reinforced by location – five minutes to Green Point Shopping Centre, 25 minutes to Hobart CBD – and a recently completed bridge that improves commute times. This property suits a buyer who wants either a strong-yielding hold with development upside or a near-term subdivision play. The 5%+ average rental yield and 15% annual capital growth in the area confirm demand is broad and sustained. The primary risk is the conflicting property record: some sources show a 3-bedroom house on site, others vacant land. If a dwelling exists, it likely dates from before 2003 and will need significant capital to bring to current rental standards. That cost – possibly $80,000–$120,000 for a full refurbishment – erodes the yield advantage. The opportunity is to buy at or near the $150,000 reserve, which is well below the estimated $553,000 value, and either renovate for immediate cash flow or hold for a zoning-driven uplift. Hold for medium-term capital gain, or develop within three years if council permits a duplex.