Mr Newton said an interstate investor had bought the two titles about a month ago for a sum that ‘‘met his expectations’’.

Although the contract is yet to be settled, a deposit has been laid down for the purchase.

Mr Newton said he felt relieved to finally be rid of the properties.

‘‘It will be nice to see somebody develop it and improve the area,’’ he said.

‘‘With a bit of luck, I’d like to see the bricks recycled.’’

The cottages were in disrepair and had previously suffered significant fire damage when Mr Newton bought them in 1997.

In 1998 they were heritage listed despite their condition, and were not delisted until 2012.

Mr Newton was unable to develop the properties as he had planned following their listing by the Tasmanian Heritage Council.

‘‘I bought it because it was next to Boral, and Boral was the largest land allotment in central Launceston,’’ he said.

‘‘It would have been prime for development, and it was next door.

‘‘It was never my intention to do them up.’’

Mr Newton has previously said the heritage listing deprived him of an income for 14 years while he paid rates, taxes and services on the properties.

Mr Newton said he had spoken with lawyers about whether any legal avenues were open to him.