‘Trophy asset’: Salamanca’s Rockwall building to fetch multi-millions
No.89 Salamanca Pl, Battery Point is heading to auction. Picture: Supplied
THE chance to buy a sandstone Slamanca Pl building only comes along so often.
And this prized asset is already grabbing global attention.
Following on from last year’s sale of their Rockwall Bar & Grill restaurant, former Aussie rules football player Garry Baker and noted Hobart restaurateur Susan Catchpool are selling the freehold of No.89 Salamanca Pl, Battery Point.
The Georgian building is home to the multi-level Rockwall restaurant and an apartment.
The property is listed with Burgess Rawson’s Matthew Wright and Beau Coulter, in conjunction with George Burbury and Scott Newton at Knight Frank Tasmania.
Mr Wright said properties within Salamanca are tightly held and rarely offered for sale publicly.
“We are already seeing inquiries flow in, not just from local or national interest but internationally, which shows just how much the Tasmanian brand has grown over the last 10 years,” he said.
“We’re expecting a strong result.”
No.89 Salamanca Pl, Battery Point.
No.89 Salamanca Pl, Battery Point.
Mr Burbury described No.89 as a “trophy asset”.
“It represents a unique purchasing opportunity with Salamanca being home to some of Tasmania’s best real estate,” he said.
“The property benefits from attractive lease terms, including CPI annual increase, providing a hedge against inflation for investors.”
After his years with the Melbourne Football Club and Footscray Football Club, Mr Baker retired and settled in Tasmania, opening a number of pubs and restaurants around the city.
Partnering with Mrs Catchpool, Rockwall Bar & Grill was opened in 2008 and quickly became a dining institution, offering visitors and locals the opportunity to view Tasmanian history from the inside.
This warehouse has withstood the test of time and has been artfully outfitted to accommodate contemporary dining.
No.89 Salamanca Pl, Battery Point.
Bustling Salamanca Market.
The property is part of a Hobart heritage warehouse area where the sea trade and shipbuilding industry began to flourish in the 1830s.
Mr Wright said the Salamanca buildings, including that which house Rockwall, are among the most impressive sandstone Georgian warehouses in Australia.
“Seeking new adventures, Susan and Garry passed the Rockwall institution to proteges, Luke and Marisa Richmond,” he said.
No.89 comprises 409sq m over three levels, including ground and first floor dining and an apartment on the upper level.
It is leased on a secure, five-year basis with options to 2042 at a net annual rental of $255,210 per annum plus GST.
No.89 Salamanca Pl, Battery Point.
Garry Baker and Susan Catchpool with restaurant owners Marisa and Luke Richmond. Picture: Nikki Davis-Jones
Opportunity to buy historic buildings in Salamanca are rare. The most recent was the Ball & Chain building with four luxury apartments that fetched $8.688m in 2017, and the Irish Murphy’s building that sold for $7.8m the year prior.
No.89 Salamanca Pl, Battery Point will be for sale by auction at the Burgess Rawson Portfolio 158 event to held at Melbourne’s Crown Casino on February 22.
