The property is going to market for offers in excess of $14 million.
The 3,720sqm landholding sits just outside the Hobart CBD and is surrounded by key infrastructure, education, and commercial precincts, offering a chance to deliver a significant mixed-use project at scale.
The property is being jointly marketed by Trevor Fox, Claude Alcorso of RWC Tasmania and Matthew Wright & David Minty of CBRE, who say the site is unique not only for its size and zoning flexibility but also for the fact that it is already approved for a Build to Sell and Hotel development scheme.
Alternative schemes, immaculately designed within the approved building footprint include:
A Build to Rent (BTR) option with 138 apartments, 7 commercial tenancies and 102 carparks
A Built to Rent (BTR) and Hotel - 68 apartments and 145 hotel rooms, 7 commercial tenancies and 102 carparks
A 264 hotel room option, with scope for more and 6 commercial tenancies and 100 carparks.
“We simply don’t see this type of opportunity in Hobart,” said Trevor Fox.
“It’s an inner-urban site of real substance, with flexible zoning and live approvals that allow a developer to move quickly and potentially turn dirt within 12 months. Whether it's residential, hotel, retail or a blend, there’s a pathway forward.”
“Developers are realising Hobart needs new solutions to housing,” said David Minty. “This site gives them the chance to lead with a model that’s already gaining support on the mainland. It lends itself equally well to BTR, hotel accommodation, or as per the current approved residential build-to-sell project.”
The conversation around BTR is increasingly prominent across Australia, with government incentives, international investment and shifting lifestyle priorities shaping a new residential landscape.
The property is currently improved by a heritage building generating holding income and includes onsite car parking. Located on a key corridor between Hobart’s CBD and North Hobart, the site is surrounded by major university investments, civic institutions, and retail anchors.
“The strategic position here can’t be overstated,” said Claude Alcorso. “It’s flanked by high-value, future-focused development. With the right project, this site could become a vital connector between the city and emerging precincts like the University of Tasmania's city campus.”
“Considering the housing crisis across the nation, the build-to-rent discussion is becoming more common,” said Vanessa Rader, head of research at Ray White. “When owning a home is not necessarily the Australian dream anymore, it’s now about lifestyle rather than ownership. There has to be a place for BTR, especially to cater for our growing population”.
The property is expected to attract interest from local, interstate, and offshore investors seeking a flagship development site in one of Tasmania’s most tightly held corridors.
“With the housing conversation evolving, and national attention on Hobart’s growth trajectory, this opportunity feels incredibly timely,” Matthew Wright said. “There’s real potential here to set a benchmark for what modern city living could look like in Tasmania.”
