Art Deco Hobart city building sale a ‘rare opportunity’
IT’S not every day that a blue-chip opportunity comes along in the heart of Hobart city.
Here at No.105-107 Liverpool St is a property with so much going for it.
From the street, it has excellent kerb appeal with its art deco facade.
The location is nearby Myer, In the Hanging Garden and the Crown Plaza Hotel, with the building boasting 15m of premium frontage to one of Hobart’s main roads.
The building has 11 tenants — including Zap Fitness, Mymac and Metal Urges Fine Jewellery — and is 100 per cent occupied.
Across three levels and 1666sq m of lettable area, the property is described as in “immaculate condition”.
Knight Frank commercial sales representative Claude Alcorso said the property had been well received since launching on the market.
He said the inquiry level had been “really strong”.
“In the first week we have had over 20 inquiries, which is good for a property in this price bracket, especially given the pressures of 2023,” he said.
“To be able to buy land in Hobart’s CBD and build the same property, you simply would not be able to do it for the price our assets sell for.
“This has underpinned the strong performance in our market.”
Per CommSec, Tasmania has been the nation’s No.1 economy for the past 12 out of 14 quarters.
Mr Alcorso said CBD properties of the calibre of No.105-107 “don’t come along often”, especially when anchored by national tenants.
“The building is in immaculate condition. It is a great building and a rare opportunity in the CBD,” he said.
“Alongside its major tenants, the building is also home to an array of smaller tenants, which diversifies the risk.
“These types of things will be attractive to potential buyers.”
The building is zoned “Central Business”. This provides flexibility for uses such as office, retail or hospitality, among others.
Before owner outgoings and excluding GST, No.105-107’s net income is over $319,000.
The property is not listed on the Tasmania Heritage Register.
No.105-107 Liverpool St, Hobart is listed with Knight Frank’s Claude Alcorso and Scott Newton. It will be sold via expressions of interest, closing at 4pm on September 14.