Rare large-scale Kingston housing opportunity hits market
No.19 Kingston View Dr, Kingston — formerly the Southern Lights Hotel — is on the market. Picture: Supplied
A SIGNIFICANT Kingston property ripe for housing development has hit the market — and inquiries have been strong since the moment it launched.
No.19 Kingston View Dr is a 3.206ha site that was once home to the Southern Lights Hotel before it closed a few years ago.
Described as a major medium-density development opportunity in a sought-after suburb, the property is of a scale that is rare to market.
Its position — a gentle, north-facing slope with a wide frontage to Kingston View Dr — provides easy access to nearby amenities, including Kingston High School, Kingborough Sports Centre, Channel Court Shopping Centre, Kingston Plaza, Kingston Town Shopping Centre and the Kingborough Twin Ovals.
No.19 Kingston View Dr, Kingston.
No.19 Kingston View Dr, Kingston.
While the property does not carry an approved development permit, Knight Frank partner George Burbury said potential buyers can see its abundant potential.
“It has attracted over 20 inquiries since it was launched to market,” he said.
“We expected it to be received well by the market, and that has been the case.
“It is an exceptional site, with views of the River Derwent, Kingston and Mount Wellington.
“Inquiries have mainly come from developers, retirement living groups and childcare operators.
“Under the Kingborough Planning Scheme, the minimum lot size for a strata development is 325sq m, suggesting there is potential to build up to 98 dwellings on the site, subject to council approval’.
“Alternatively, someone might buy the property as a land bank. They could hold it for a period of time before developing the site later, but in the meantime reopen the pub or short-stay accommodation to generate holding income.”
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No.19 Kingston View Dr, Kingston.
No.19 Kingston View Dr, Kingston.
Existing but not in operation, the property has 24 accommodation rooms, a hotel bar and dining facilities, a commercial kitchen, plus a manager’s apartment.
The most recent Kingston property sale that would be semi-comparable to No.19 is No.70 Channel Hwy.
The 1.66ha site was sold by Knight Frank at the end of 2021 for a multimillion-dollar sum.
It is the property where developers have recently launched a 51-home build-to-rent project that attracted some 200 people on its open day.
As one of the last large infill development sites in Kingston, No.19 has plenty to make it attractive to purchasers, such as its ‘General Residential’ zoning and that the site has already been cleared — which combined with the orientation and gentle slope would mean most units in a development of the site would benefit from a view.
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No.19 Kingston View Dr, Kingston.
No.19 Kingston View Dr, Kingston.
Mr Burbury said a positive traffic report supports significant density on the site.
The surrounding amenities, proximity to Kingston and Hobart’s CBDs and easy access to arterial roads would make this property an attractive place to live, he said.
No.19 Kingston View Dr, Kingston is for sale with Knight Frank. Expressions of interest on March 14 at 4pm.
