11/28 Waterworks Road

Positioned in one of Hobart's most prestigious and tightly held inner suburbs, this substantial brick property presents a genuine dual-income opportunity that is as rare as it is compelling. Set against the backdrop of Hobart's CBD and the surrounding mountain ranges, Unit 11 of 28 Waterworks Road offers two fully self-contained residences across a total of 175 square metres, each alive with original period character and brimming with potential. From the moment you arrive, the craftsmanship of a bygone era announces itself. Original stained glass panels frame the entry of Unit Two, casting soft prismatic light across a home that has been loved for generations. Inside, the property unfolds with a warmth and generosity that is simply not replicated in modern construction. Rich hardwood timber floors run throughout, ornate brick fireplaces anchor the living spaces, and original timber panelling, classic cornicing and period-correct joinery speak to the quality of what was built here. A sunroom wrapped in natural light, multiple living and dining areas, a bedroom of genuine proportions, a functional kitchen and a bathroom with shower complete a residence that is entirely liveable from day one while holding enormous scope for transformation. Unit One, at 79 square metres, continues the theme of Heritage grace. A generous living and dining room flows through to a kitchen and bathroom, while the crowning jewel of this residence is its breathtaking wraparound sunroom, fully enclosed and flooded with light, capturing serene treetop and neighbourhood views that make it equally suited as a master bedroom, studio or private retreat. With its own separate access and self-contained configuration, this is a residence that will attract strong and consistent rental demand. Beyond the two dwellings, the lower ground floor reveals a further 32 square metres of storeroom space alongside a dedicated laundry and additional storage, delivering a level of utility that today's buyers rarely encounter. Whether you envision a workshop, studio, home office or future conversion, the possibilities here are genuinely exciting, subject to council approval. The aerial setting tells its own story. Dynnyrne sits elevated above Sandy Bay, and from this vantage point the full sweep of the Derwent River, the Hobart waterfront, the iconic Tasman Bridge and the mountain ranges beyond form a backdrop that no renovation budget could ever replicate. This is a location that continues to attract owner-occupiers and investors alike for its prestige, proximity and long-term capital performance. Minutes from Sandy Bay's retail and dining precinct, the University of Tasmania, Hobart CBD and the walking trails of the Waterworks Reserve, the lifestyle credentials here are undeniable. Whether you choose to occupy one residence and lease the other, retain both as investment tenancies, or embark on a considered renovation to restore this remarkable home to its full period glory, the outcome in a suburb like Dynnyrne is virtually assured. Properties of this scale, character and location are not simply rare. They are genuinely once in a generation. Thinking of selling your home? Contact me, Natalie Downton, a 4-time winner of Number 1 Sales Agent in Australia. With a proven track record of success, unparalleled local knowledge and a passion for achieving outstanding results. Reach out today to discuss how I can assist in getting the best possible outcome for your property.