Historic Tasmanian mill offers commercial escape to the country

A heritage property in Tasmania with potential as an accommodation business might be just the ticket for investors or those seeking a tree change.

Suited to either commercial or residential opportunities, Bowerbank Mill is an 1850s property at Deloraine, 50km south-west of Launceston.

This property comprises a four-storey home featuring a Georgian façade that sits next to the original mill’s six-storey red brick chimney.

Then there’s the beautifully renovated interior featuring thick handmade bluestone walls, high ceilings with timber beams, and a total of 18 arched windows throughout.

The 700sqm property also comes with 10 bedrooms, five living rooms and a 120sqm ballroom attic as well as an art gallery or gift shop.

Connected to the main house via French doors are two self-contained cottages with loft bedrooms.

One of these properties is set within the chimney mill which is one of the highest residential chimneys in Tasmania and has an open fire.

The main residence and the mill are surrounded by leafy landscaped gardens featuring fruit trees, roses, a berry patch and even a resident mopoke owl. The property is spread across 2500sqm and looks out to  the nearby Great Western Tiers mountain bluffs.

Parry Property director Ian McCallum said the unique property had been home to late artist and leather sculptor, Garry Greenwood for 15 years before the current owners bought it, also 15 years ago.

He explained that while the owners hadn’t used the property for commercial accommodation purposes for about three years, they still ran the art and craft shop.

“One of the owners fell in love with the property as a young girl and they’ve maintained the property magnificently,” he said.

Mr McCallum said while the age of the property wasn’t unique, the fact that it was a converted flour mill ensured it stood out from the crowd.

Mixed interest from mainland

Despite its old world charm, Bowerbank Mill hasn’t attracted a wealth of interest as it hasn’t been a recently operating commercial business, according to Mr McCallum.

However, he maintains it will probably sell as a boutique accommodation property to a commercial business operator from the mainland – or possibly to a “hopeless (residential) romantic”.

The mill property includes a large gift store. Picture: realcommercial.com.au/for-sale

“Mum and Dad and the four kids aren’t going to move in here,” he said.

“That’s not where its true value lies, although it is a fascinating place.”

As well, Bowerbank Mill was in a fantastic location, Mr McCallum said.

“If you want to come over here and just travel and see the best of Tasmania, you’re in an ideal spot at this property,” he said.

Tasmanian visitor interest on the up

The mainland interest in the Bowerbank Mill is proving what Tasmanians already know: not even the rise in recent COVID Omicron cases can discourage buyers and tourists from visiting the Apple Island.

Known as the Chimney House, the self-contained cottage within the six-storey red brick chimney is one of the highest residential property of its kind in Tasmania. Picture: realcommercial.com.au/for-sale

PropTrack data shows the median house price in Hobart has risen by 34% in the past year and newly-listed properties spent a median of  23 days on realestate.com.au in December 2021.

In regional Tasmania, prices have risen by 33% in the past year and newly-listed properties in these areas spent a median of 35 days on site in December 2021.

The current median price of a home in Hobart is $780,000 and in regional Tasmania it is $515,000.

Meanwhile, the state’s tourism sector is also bucking the trend.

An Industry Recovery Insights report released this month by Tourism Tasmania revealed that the state’s tourism accommodation demand was strong throughout the Christmas and New Year period.

“While the uncertainty of travel remains in travellers’ minds, all states and territories were able to travel to Tasmania from mid-December,” the report stated.

“Although there was a small reduction in bookings from early January as positive COVID cases increased rapidly in multiple states.”

The beautifully maintained mill residence has been renovated and restored while retaining some period features. Picture: realcommercial.com.au/for-sale

According to this report, short-stay accommodation was also holding up well and was similar to that of a year ago, with demand over the next three months expected to be 31% above January 2021 levels.

“Encouragingly, despite the broader domestic market being impacted by lockdowns, travellers remain engaged with planning holidays in Tasmania,” the report stated.

“There is an increase in those ‘active’ in the planning stages, which brings an optimistic outlook as unrestricted travel is on the horizon.”

REA Group economist Anne Flaherty said that demand for commercial property in Tasmania had actually strengthened over the past year.

“Over 2021, there were 28% more searches to buy commercial property in Tasmania compared to the previous year, and 41% more compared to 2019,” Ms Flaherty said.

She added that the reopening of state borders – particularly the border between Victoria and Tasmania should help drive demand for tourism accommodation and also help to support recovery of this sector.

Bowerbank Mill features several separate residences. Picture: realcommercial.com.au/for-sale

The recent reopening of borders, and the fact that Tasmania was only minimally affected by COVID and could still claim status as a “clean, green” state could assist Bowerbank Mill to sell more swiftly, Mr McCallum said.

“The biggest growth industry in Tasmania in the last 10 years has been the tourist industry and I think a lot of people are going to move down here,” he said.

Tasmania offers both visitors and locals a more easy-going lifestyle, Mr McCallum said.

“Then there’s the food and the wine – some of the best food in Australia comes out of Tasmania and it’s because of the climate.”

Bowerbank Mill is for sale via private treaty with a price guide of $1.599 million plus.

It also offers a walk-in, walk-out option which includes all the furniture, linen and memorabilia.