234 - 250 Elizabeth Street, Hobart is situated on four titles and is very well positioned on the south-western side of Elizabeth Street, on the fringe of Hobart’s CBD.
The site comprises a significant land area of 3718 sqm* and is being sold with an approved development application and three further completion options for future developers as depicted below.
- Approved – 49 Apartments + Hotel (145 rooms) with 104 carparks
- Option 1 – Build to Rent (68 units) + Hotel (145 rooms)
- Option 2 – Build to Rent (138 rooms)
- Option 3 – Hotel (264 rooms)
In addition, the development would have the benefit of basement carparking with retail/office and hospitality venues.
The offering has a 70 metre frontage to Elizabeth Street and benefits from two alternative entry points from Warwick Street.
Approved plans are available from the selling agents, plus 3 options that renowned Scanlan Architects have designed to fit within the building envelope that have been approved by Hobart City Council.
234-250 Elizabeth Street, Hobart provides a unique and perhaps final opportunity to purchase an income producing development site in a central Hobart location, with full DA. Current holding income is estimated to be $221,322 per annum plus GST.
This property and position cannot be underestimated, it is situated on the fringe of the Hobart CBD is a short walk to the North Hobart retail strip and the waterfront precinct. It is without doubt ideally situated for development. In summary, the Hobart market is currently experiencing a housing shortage, with very little or no other developments of scale being built to meet market demands.
*Approximately
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