Hobart Commercial Property News

A plan to build 52 apartments in a 13-storey building on the site of the Welcome Stranger Hotel in Harrington St has been rejected by a Hobart City Council planning committee after council officers recommended it be refused.

Tasmania’s hotel market is in full swing with Hobart’s MACq1 Hotel selling for about $50 million this week to a syndicate of investors, while in Melbourne developers are poised to build a significant hotel at the airport.

Property magnate Larry Kestelman plans to turn Wilkinsons Point into a Southbank-style precinct that will drive seven-days-a-week traffic in the area.

An NBL team for Tasmania looks increasingly likely, with the league’s owner understood to be in the mix to buy the Derwent Entertainment Centre.

As Hobart’s Dark Mofo arts festival moves into full swing, Melbourne-based developer Riverlee is looking to the next stage of its collaboration with the Museum of Old and New Art and its founder David Walsh.

Melbourne-based boutique investment house Pentagon Group has swooped on three Tasmanian pubs sold by the wholesale EBC Hotel & Leisure Fund in a deal worth about $30 million.

A development application for a floating hotel on the River Derwent will be lodged with the Hobart City Council in the coming week, says the architect leading the proposal for Hunter Developments.

Murray Street Chapel is unlike any office space currently on the market in Hobart.

Investors’ taste for Tasmania shows no signs of waning, with five properties on the apple isle selling as part of Burgess Rawson’s latest Investment Portfolio Auction campaign.