‘Strong demand’: Why this AusPost site sold for $4.4m
SOLD: No.11C Lampton Ave, Derwent Park. Picture: Supplied
An Australia Post facility in Hobart’s northern suburbs has sold for a multimillion-dollar price.
No.11C Lampton Ave, Derwent Park was sold through CBRE for $4.4m, with the property last transacting at $4.125m in 2023.
The 3954sq m General Industrial zoned site has been occupied by Australia Post for over 20 years.
The 1816sq m facility operates as a warehouse, mail sorting and distribution centre for the postal service’s vehicle fleet, generating annual rent of about $265,000, reflecting a yield of around 6 per cent.
Australia Post is a Commonwealth Government business enterprise that provides postal services with over 64,000 workers spanning 4310 sites nationwide.
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No.11C Lampton Ave, Derwent Park.
No.11C Lampton Ave, Derwent Park.
“Strong investor demand for government-backed tenants in Tasmania’s tight industrial market drove solid interest in this asset,” said CBRE senior director, Matthew Wright.
CBRE’s George Wilkinson added: “Australia Post’s long tenure and Derwent Park’s established industrial location delivered a quality investment proposition with secure income from a national tenant.”
Located in Hobart’s primary industrial precinct, the site is surrounded by operators including Bunnings, Coates Hire, United Tools, Searoad Logistics and Petstock. The Moonah shopping centre is within a kilometre.
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Derwent Park sits within the Glenorchy municipality, which has a population of 72,000 within a 6km radius.
The suburb’s housing market is strong, with PropTrack figures showing 9.3 per cent median house price growth over the past 12 months. Values are up by 26 per cent compared to five years ago.
