447 Macquarie Street, South Hobart TAS 7004

Georgian cottage, South Hobart, restored original features, self-contained lower level | dual-income potential, heritage location, walkable urban fringe | rare configuration, strong family or investor appeal The property’s competitive strength lies in its dual configuration – a four-bedroom, two-bathroom layout with a self-contained lower level that functions as separate living quarters. This is uncommon for a heritage cottage and gives a buyer genuine flexibility: multigenerational living, guest separation, or rental income without compromising the main house. The circa 1840 restoration with exposed sandstone, high ceilings, and period detailing is not cosmetic; it signals structural integrity and a finished product, which reduces immediate capital outlay. Positioned in South Hobart’s walkable core, close to cafés, schools, and the CBD, it suits a professional family or an investor seeking a low-management dual-occupancy holding in a tightly held suburb. The main risk is the land size – 525 m² is modest for a heritage cottage, limiting future subdivision or extension options. Buyers should verify the self-contained lower level’s compliance with local council rental regulations, as non-compliant use could affect resale or financing. The sales history shows a May 2021 purchase at $1.157 million, meaning current pricing likely reflects market softening; a buyer should assess whether the asking premium over that base is justified by the restoration quality and dual-income potential. Hold this property as a long-term family home with passive rental offset, not a short-term flip.