RECORD SMASHED
JARRAD BEVAN
A NEW benchmark has been set for the most expensive home sale in Tasmania – and it eclipsed the previous high by $1.5m.
Harrison Agents and Melbournebased developers Moda have sold the penthouse in the yet to be built St David luxury apartment complex on Sandy Bay Road for $8m.
The Mercury understands it was a Victorian buyer who works in the property development industry who snapped up the penthouse.
Tasmania’s previous record holder for a residential home sale was the century-old Sentosa at 650 Sandy Bay Road, which fetched $6.5m in 2017.
Harrison Agents director Tom Harrison said while he was expecting the launch to be “pretty hot” the level of inquiry was overwhelming with the first five people that walked in the door on launch day submitting contracts for homes.
“It was a perfect storm with Hobart being hot, a popular holiday destination, our work-life balance is great here and then unique, premium quality of the St David design, materials and construction,” Mr Harrison said.
“The apartments will have an industrial look blended with European sophistication and Moda is sharply focused on their customers and delivering something incredible for purchasers.
“People recognise that if Hobart keeps growing at a sustainable pace, the owners of these parkside apartments will be living somewhere amazing and with astounding value. A location like this, you really can’t go wrong.”
Real Estate Institute of Tasmania president Mandy Welling described the $8m sale as “incredible”.
“When would we have ever thought that a Hobart property could sell for a sum so close to $10m? I’ve never considered it,” she said.
“Will this type of activity encourage people back into the CBD? Any developers looking at the possibility of growth in the city will see this result as phenomenal, it will be great for confidence in the market.”
St David will be located at No.9 Sandy Bay Road opposite St David’s Park.
An existing 1950s apartment building currently on the site – which sold for $3.7m in 2015 – will be demolished.
Construction is due to start around September or October and St David is due for completion towards the end of 2022.
St David has attracted an unprecedented level of sales success with more than $30m to date and over 1000 inquiries from Tasmanian, Victorian and NSW purchasers.