Lease to iconic Launceston building goes up for sale

Situated on Cameron Street, the Cornwall Hotel is one of the most iconic buildings in Launceston.

First established in 1824 by John Pascoe Fawkner, it was Launceston's leading hotel with 13 rooms over two storeys.

From The Cornwall, Fawkner ran a bakery, became a bush lawyer representing convicts, and started Launceston's first newspaper.

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Knight Frank agent John Blacklow said the building itself was the founding place of the City of Melbourne.

"That's probably what it's famous for. John Batman and John Fawkner met there and basically founded Melbourne from Launceston," Mr Blacklow said.

"It's on the market for $990,000 and runs until 2049, so it's a long-term lease."

He said there had been a lot of interest since the hotel hit the market.

"We've got a couple of inspections this week. The figures are very good and they've got a couple of contracts in place from mainly the workers.

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"The building goes pretty well, it's easy to run and there's a manager's residence on site. The people who run it at the moment run it under full management; it's pretty easy for someone to either step in and run it themselves or continue with the existing management."

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