Property Development

Hobart’s most significant CBD development site hits the market

Written by The ReReport
As seen in the Source link, written by on 2019-03-12 00:21:41

103 Melville Street, Hobart. Picture: SUPPLIED

DESCRIBED as the largest and most significant Hobart CBD development site available to the market for the foreseeable future, this is a listing that is bound to grab attention.

The K&D site is set on the northern edge of the CBD, only 750m from the GPO, meaning this site represents an opportunity on a scale that is truly unique.

Making the acquisition even more compelling is the leaseback providing a holding income while planning and development approvals could be sought.

Knight Frank partner Scott Newton says the site would be “significant for the future development of Hobart”.

“It is one of the most attractive development opportunities we have had the chance to put on the market in many years,” he said.

The land area is 1.12ha and the building size is 6374sqm.

No.103 Melville Street in Hobart is listed with Knight Frank; it will be sold by expressions of interest.