A life of luxury with the price tag to match

IT IS potentially one of Launceston's biggest real estate sales - and not just because of the view.

The penthouse apartment of The Hotel Charles is for sale, complete with an indoor theatre, designer kitchen, bar, wine cellar, and panoramic views of the Tamar Valley.

But it is the luxury suite's proximity to hospitals, the airport and its low-maintenance interior that could see it join a national property investment trend.

Real Estate Institute of Tasmania president Adrian Kelly said cashed-up retirees had begun to look at Launceston high-end apartments in the same way they looked at those in Hobart, Sydney and Melbourne.

Mr Kelly said inner-city apartment buyers generally had similar properties elsewhere for when it got cold in Tasmania.

He said older buyers also liked living near health care.

"Generally they've got a bit of money behind them, but they're also a bit older, so having health care facilities nearby is crucial," he said.

"We've seen this trend in Melbourne and Sydney, and also Hobart, and I think Launceston is just starting to get there."

Tony Morrison, director of Harcourts Launceston and agent for The Hotel Charles penthouse, said airport access and building security were also key factors in attracting potential buyers.

"They want to be able to lock the place up for three months without having to worry about anything happening to their possessions," he said.

There are four other apartments on offer at The Hotel Charles - ranging from $1.19 million and $1.65 million.

Mr Morrison said the price of the top suite was open for negotiation, but he expected it to trump the others.

"Not many properties in launceston go for over $1 million - and even less go for more than $1.5 million," he said.

- Email: adruce@examiner.com.au

Twitter: @AlexDruce1987

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