14 Union Street, Launceston TAS 7250

5-bedroom character house | 919sqm land in tight inner suburb | 23% building coverage | rare dual-use potential This property offers a genuinely rare configuration for Launceston’s inner ring: a substantial 1910 residence on a 919sqm block with only 23% building coverage, meaning the land holds more value than the house alone. For a buyer seeking either a large family home with expansion room or a site with redevelopment potential in a tightly held suburb, the low coverage ratio and absence of heritage or flood overlays create unusual optionality. The five-bedroom layout, ducted heating and cooling, and study make it immediately livable, while the seven open car spaces and shed suggest prior commercial use-a flexibility that suits owner-occupiers who also run a business from home. The primary risk is the single bathroom for five bedrooms, which will limit appeal to some families and may require a renovation outlay of $40,000–$60,000 to add a second bathroom. The 1910 construction also means older wiring and plumbing should be inspected before purchase. On the opportunity side, the 23% building coverage and 919sqm land allow for either a significant rear extension, a secondary dwelling, or a subdivision subject to council approval-each option adding material value above the current estimated range. The FTTP connection and 5G coverage are supporting benefits for remote workers. Hold this property as a long-term land bank in a supply-constrained suburb, renovate the bathroom within two years, and let the land value appreciate while the house generates rental income or serves as your primary residence.