Historic waterfront prestige property up for grabs
A SUBSTANTIAL waterfront property in one of Tasmania’s most prestigious suburbs will always grab attention far and wide.
Local, interstate and across the world, too.
But No.520 Sandy Bay Road offer so much more than just a lovely house with water views.
This property features a large hall and a gorgeous church with a history dating back to the 1840s.
Add to that the property’s General Residential zoning, approved residential DA and the potential for a greater density development — subject to council approval — and what you have got is a once in a generation opportunity.
Knight Frank residential sales consultant Anne Boman and commercial sales consultants George Burbury and Tom Balcombe are expecting an exceptional level of interest in this truly rare property.
Mr Burbury described prospective purchasers of this property as “astute”, with vision and resources.
“The eventual purchaser will recognise the potential and uniqueness of the opportunity presented,” he said.
“With the property dating circa 1847, the vendor has prepared a Concise Conservation Management Plan which outlines the history of the place and its heritage characteristics.
“This information will be available for prospective buyers.”
The church was formally deconsecrated as an Anglican church in April 2019.
In the interim, it has been used by the Hobart Vision Church, a Korean-speaking congregation.
Of Sandy Bay’s many, many desirable neighbourhoods, Red Chapel Avenue sits among the finest. And it takes but a dash of imagination to see where its name drew inspiration from.
From its waterside location, No.520 Sandy Bay Rd faces a sunny northern orientation and boasts a title to the high water mark.
About 50 years after it was built, in 1896, additions were made to this Federation-era brick church.
The church features an entry, vestibule and vestry with the main section having an exposed timber vaulted ceiling and timber framed stained-glass windows, which is expected from a church of its era.
The property’s second building, a two-storey brick hall, was originally built in 1916 with additions in 1961.
At street level, the hall has an enormous open area with timber floorboards, large steel framed windows, a double height raked ceiling and superb water views.
There are kitchen facilities located off to the side.
On the lower level there is a large meeting room or storage area plus male and female toilet facilities. Access to the lower level is via external stairs.
Mrs Boman said the church had been well maintained over the years.
“Many of the historic furnishings are available to be sold with the property,” she said.
No.520 Sandy Bay Road will be sold under the hammer next month.
Mrs Bowman and Mr Burbury said they were not able to say what the price expectation is for the property at this time.
The agents said there were a number of reasons why an auction was the right type of sale campaign for a prestige property such as this one.
Mr Burbury said public auctions are widely recognised as one of the most effective methods of achieving a premium price, particularly in circumstances where there is a degree of uncertainty in determining price or where there is likely to be extra competition for the property.
Mrs Bowman said auction campaigns are a transparent selling method that provide all prospective buyers equal opportunity, ensuring integrity in the sale process.
“Knight Frank has a global database of about 50,000 commercial and residential buyers, many of which we believe will inquire on this asset,” she said.
Knight Frank will launch the property to market this week and Mr Balcombe said they “expect to review a very high level of interest”.
“Properties such as this are very rare to market and with the assistance of our global network of offices we expect to receive buyer interest, locally, nationally and internationally,” he said.