‘Trophy’: Hobart waterfront building attracts global interest
No.11 Franklin Wharf, Hobart is for sale with Elders Tasmania Commercial. Picture: Supplied
The chance to own a prominent piece of Hobart’s waterfront does not come along every day.
And even rarer still is a property such as No.11 Franklin Wharf, an updated, multi-level building on a corner site with a 1200sq m floorplan.
Described as a “generational trophy asset” in the heart of Hobart’s Sullivans Cove precinct, No.11 Franklin Wharf is a stand-alone freehold investment offering unrivalled exposure. Occupied by Post Street Social and The Observatory, two of Tasmania’s most renowned hospitality venues, this landmark property sits in a high-foot-traffic location opposite the Mona Ferry Terminal, with views towards the River Derwent and surrounding waterfront buildings.
Benefiting from over $3.1m in recent refurbishments — including premium hospitality fit-outs, lighting, and sound systems — this premium asset offers exceptional flexibility for investors and future owner-occupiers alike.
No.11 Franklin Wharf.
No.11 Franklin Wharf.
Elders Tasmania Commercial sales agent, George Burbury, said inquiries had come from a wide range of potential buyers, local and from all over the world.
And while its key selling points are hugely attractive, there is an extra factor to consider in a property such as this one.
“For some investors, the commercial return will be considered but also the value in the heritage, the unique position, and the irreplaceable nature of the property will be just as carefully considered,” he said.
“It is a centrepiece of the Hobart waterfront precinct. A true trophy.”
The property has a secure income stream — fully leased to leading hospitality operators — providing a net passing income of about $777,000 plus GST.
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No.11 Franklin Wharf.
No.11 Franklin Wharf.
There is potential, in the future, for owner-occupancy if desired. In coming years, the property could continue to be used as a hospitality venture, or be converted into something new: a boutique hotel, a flagship office, or premium mixed-use asset, subject to approvals.
Post Street Social is a popular waterfront bar and restaurant known for its casual dining style.
Guests can enjoy a variety of dishes accompanied by a well-chosen wine list and an array of cocktails.
The establishment also hosts live music on Fridays, Saturdays, and Sundays, providing a vibrant atmosphere for patrons.
Additionally, Post Street Social features a dedicated function space suitable for private events,
accommodating up to 50 guests.
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No.11 Franklin Wharf.
No.11 Franklin Wharf.
The Observatory, known locally as Obar, is one of Hobart’s premier night-life destinations.
A staple in Tasmania’s entertainment scene, The Observatory is renowned for its high-energy atmosphere, live DJ performances, and stunning waterfront views.
The venue features a main bar and dance floor, complemented by a VIP section and lounge bar with premium finishes.
It offers state-of-the-art lighting, sound systems, and luxury fit-outs, ensuring a high-end clubbing and event experience.
Both businesses have multi-year leases in place.
With dual frontages to Franklin Wharf and Morrison St, this building presents a rare opportunity to secure a high-profile commercial holding in one of Australia’s most sought-after locations.
No.11 Franklin Wharf, Hobart is for sale by expressions of interest, closing on May 1 at 4pm. Contact George Burbury or Scott Newton for details.
