Whole Hobart city block for sale
No.103 Melville St and No.159–163 Harrington St in Hobart is for sale with RWC Tasmania and Burgess Rawson from CBRE. Picture Supplied
A landmark opportunity to own a city block in the heart of the CBD has launched today.
The site includes the former K&D Warehouse alongside a leased office building on Harrington St, which is anticipated to sell for over $30m and is set to be one of Tasmania’s largest transactions in 2025.
The expansive 11,799sq m site at No.103 Melville St and No.159–163 Harrington St is just 350m from Hobart’s main retail precinct and is one of the most significant commercial offerings to hit the Tasmanian market in years.
The property is being jointly marketed by Claude Alcorso and Matthew Wallace of RWC Tasmania and Matthew Wright and George Wilkinson of Burgess Rawson from CBRE.
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No.103 Melville St and No.159–163 Harrington St in Hobart is for sale.
No.103 Melville St and No.159–163 Harrington St in Hobart is for sale.
With Commercial zoning, the site offers a rare blank canvas for developers, providing flexibility to either repurpose the existing structure or undertake a large-scale redevelopment. The zoning permits a wide range of uses including large-format retail, office towers, shopping centres, supermarkets, hotels, or mixed-use commercial and residential projects.
RWC Tasmania partner Mr Alcorso said opportunities of this scale and strategic location rarely present themselves, not just in Tasmania, but nationally.
“The ability to acquire a city block in the heart of a capital city offers a transformative canvas for developers to reimagine the future of Hobart,” he said.
“It’s an incredibly exciting project for both our teams to be involved with.”
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No.103 Melville St and No.159–163 Harrington St in Hobart is for sale.
Burgess Rawson from CBRE partner Mr Wright said the property will attract attention from domestic and offshore investors.
“There’s growing interest from international buyers, driven by Tasmania’s attractive yield profile, constrained supply, and a strong public sector presence,” Mr Wright said.
“We’re seeing increasing national interest in Hobart’s commercial market, and this site ticks all the boxes for institutional and private investors looking for scale, flexibility, and an unparalleled CBD position in one of Australia’s most liveable cities.”
The site is currently held under short-term leases, providing holding income while allowing developers immediate access post-settlement.
Ray White Commercial Tasmania’s Claude Alcorso, Heather Mason and Matthew Wallace.
Mr Wallace said the holding income gives investors the flexibility to plan while generating a return from day one.
“It’s not just the size; it’s the location, zoning, and flexibility that make this site truly exceptional,” he said.
“An entire city block coming to market like this is almost unheard of.”
No.103 Melville St and No.159–163 Harrington St in Hobart is for sale.
No.103 Melville St and No.159–163 Harrington St in Hobart is for sale.
Ray White Capital’s head of institutional and capital research, Luke Dixon, said Tasmania has a rising profile in the national investment landscape.
“Hobart continues to perform strongly in the commercial property market,” he said.
“Office vacancy in the CBD is the lowest in the country at just 3.6 per cent, compared to a national average of 13.7 per cent, so the demand is clearly there.
“This site could accommodate a wide range of developments that directly respond to that demand.
“We’re seeing the early stages of economic recovery in Tasmania, and Hobart is at the centre of that shift.
“This is a state emerging as a standout performer in 2025.”
Burgess Rawson from CBRE partner Matthew Wright.
Mr Wilkinson emphasised the national significance of the offering.
“This is more than just a development site, it’s a chance to redefine a key part of Hobart’s CBD for the next generation,” he said.
“With the right vision, this block could become a catalyst for urban renewal, economic activity, and community engagement.
“Nationally, it’s rare to find such a blank canvas with both the physical scale and planning framework to deliver meaningful, city-shaping outcomes.”
With a price guide exceeding $30 million, the site presents a rare and strategic opportunity for developers, investors, and institutions to secure a premium position in one of Australia’s most tightly held capital city markets.
The property is for sale via international expressions of interest, closing at 3pm on August 28th.
