29-31 Elizabeth Street, Devonport TAS 7310

Weatherboard house | Light Industrial zoning | 1,915sqm block | workshop and sheds The buying case for this property rests on the land and its zoning, not the house. A 1,915sqm fully fenced parcel in Light Industrial zoning with development and subdivision potential is rare in a tightly held market like Devonport. The existing three-bedroom weatherboard provides immediate rental income while you pursue council approvals for a higher-value use. The large workshop and four additional sheds add practical value for a trade or small business owner wanting to live on site. This property suits an investor or developer with a medium-term horizon who can see past the dated dwelling. The main risk is the house itself-it is a secondary consideration and will need work to command top rent. The Light Industrial zoning is an opportunity, not a guarantee; subdivision or redevelopment requires council approval, which adds time and uncertainty. Valuation at $683,000 and potential rent of $465–$560 per week give a reasonable yield baseline, but the real upside is in the land. Hold for income while you test the development path, or sell to a buyer who values the zoning premium.