Is this block the city’s last?

IT may look like just a carpark and warehouse, but there is more to this inner-city property than meets the eye. No.104 Bathurst St might be Hobart’s last CBD block of land. The site offers 604sqm of land in a premier mixed-use pocket of the city alongside The Playhouse Theatre and opposite the New Sydney Hotel.

Currently, it comprises 14 carparking spaces and a warehouse, which is leased to a longstanding tenant on a short-term basis, providing flexibility for all interested parties.

The 248sqm single-storey building is tenanted month by month to the renowned Farm Gate Market, which operates on Sundays including a walk-up coffee shop.

Knight Frank commercial sales and leasing agent Trevor Fox said since hitting the market, the property had attracted a lot of interest, from owner occupiers, investors and potential developers.

“It’s certainly unique and attracting a lot of attention,” Mr Fox said. “It is a true blank canvas.”

Mr Fox said the property’s current rental is considered “below market parameters”, given the site’s potential.

The property adjoins popular Criterion St and is about 100m north of Hobart’s central retail block. In the immediate vicinity is the Crowne Plaza Hotel, State Library, large office buildings and the new University of Tasmania precinct.

A search for land/development in the 7000-post code on realcommercial.com.au reveals very few options.

Of the 10 results, most land opportunities are not in Hobart’s CBD, but rather suburbs like Blackmans Bay, Kingston, West Moonah, Claremont or Old Beach.

No.104 Bathurst St is zoned Central Business. It is for sale by expressions of interest closing August 18 at 4pm. Inspections are by appointment.