Tasmania’s commercial property market recorded another steady month of activity in August, the South again led the state in transaction volume, headlined by the sale of 11 Franklin Wharf, Hobart, a recently refurbished standalone hospitality asset acquired by a mainland investor. Industrial and retail activity remained solid across Glenorchy, Huntingfield and Cambridge, while 233–235 Main Road, Derwent Park, occupied by long-standing tenant Horizon Motorcycles, sold to a local syndicate.
In the North, government and healthcare covenants featured prominently, with Unit 1, 139–143 Hobart Road, Kings Meadows leased to The Crown in Right of Tasmania selling to a local investor on a sub-6% yield, and Unit 5 in the same complex leased to National Hearing Centres (Amplifon). A 7.43 hectare, Council-approved residential development site at 19 Cobrooga Drive, St Helens also transacted with vacant possession.
19 Cobrooga Drive, St Helens
The North West recorded strong industrial interest, led by 158 Emu Bay Road, Deloraine, a substantial facility securely leased to Nutrien Ag Solutions returning approximately $190,000 per annum net. Smaller industrial and office assets in Deloraine, Wynyard and Latrobe also changed hands.
Nutrien Ag Solutions, 158 Emu Bay Road, Deloraine
On the East Coast, 1/1 Victoria Street, Swansea, leased to Bendigo Bank, highlighted continued investor interest in secure regional bank-tenanted assets.
Key Observations
- Hospitality and large-format assets continued to attract strong mainland and interstate investor interest.
- Industrial assets remained active across all regions, from high-clearance warehousing to agribusiness-leased facilities.
- Development sites in St Helens and Western Junction highlighted ongoing interest in future residential and industrial growth corridors.
South
81 Barossa Road, Glenorchy
A mixed-use retail property comprising a ground-floor commercial shop with a spacious three-bedroom residence above, sold on a 1,166 sqm site with approximately 255 sqm of building area. The property is leased through to June 2028, reflecting an estimated yield of approximately 7% per annum, and offers flexibility, scale and untapped potential in a tightly held Glenorchy location.
58 Carlton Beach Road, Dodges Ferry
Three retail shops on one title, comprising approximately 343 sqm of building area, sold fully leased to Homelands Property, Terry White Chemmart Pharmacy and Thirsty Camel Bottle Shop & Liquor Outlet. The property generates net income of approximately $98,588 per annum (incl. GST) and is positioned on the main thoroughfare junction in Dodges Ferry.
64 Burnett Street, Hobart
A versatile office building comprising approximately 404 sqm across two functional levels on a 548 sqm site, sold with vacant possession. A telecommunications lease for a cell tower on the roof provides additional holding income.
233–235 Main Road, Derwent Park
A two-level showroom, workshop and office building of approximately 967 sqm on a 1,437 sqm site sold to a local syndicate. The property is occupied by long-standing tenant Horizon Motorcycles on a lease expiring June 2027, with a further five-year option.
11 Franklin Wharf, Hobart
A standalone hospitality asset of approximately 1,200 sqm on a 679 sqm site sold to a mainland investor with vacant possession. The property recently underwent a refurbishment in excess of $3 million, including premium bar fit-outs and advanced AV and lighting systems.
1, 2 & 3, 65–67 High Street, New Norfolk
Three strata-titled retail properties comprising approximately 308 sqm of building area on a 1,191 sqm site, zoned General Business. The properties are fully leased with a WALE of approximately 4.2 years as at July 2025, generating current passing net income of approximately $104,000 per annum plus GST.
321–323 Liverpool Street, Hobart
An inner-city showroom-warehouse of approximately 839 sqm on a 948 sqm site, zoned Central Business. Recently vacated by Cool Drive following its relocation to larger premises, the property sold with vacant possession.
Unit 3, 3/1 Patriarch Drive, Huntingfield
A modern concrete tilt-up industrial facility comprising approximately 479 sqm of building area on a 518 sqm site, sold with vacant possession. The property combines high-clearance warehousing with a professional client-facing showroom.
4/14 Kennedy Drive, Cambridge
A high-clearance industrial unit of approximately 335 sqm, zoned Light Industrial, sold with a secure 5-year lease to Tasmanian Hi-Tec Painting Pty Ltd, plus a further 5-year option. The modern tilt-slab construction returns approximately $60,000 per annum net plus GST, providing strong day-one cash flow.
Unit 5, 32 Bayfield Street, Rosny Park
A retail investment of approximately 138 sqm on a 183 sqm site sold to an interstate investor on a 6.15% yield. The property is leased long-term to Hair Gallery, generating current net income of approximately $46,800 per annum plus GST, and features a quality existing fit-out, five on-site car parks and a high-profile corner position.
North
Unit 1, 139–143 Hobart Road, Kings Meadows
A 179 sqm office premises sold to a local investor on a sub-6% yield. The property is leased to The Crown in Right of Tasmania (Department of Premier and Cabinet) on a 7-year term to July 2029, with a further 4-year option through to 2033, and features a high-quality tenant fit-out incorporating reception, offices, meeting room and staff kitchen and amenities.
71 St John Street, Launceston
A 380 sqm office building on a 230 sqm site, zoned Central Business, sold with vacant possession or with passing income for up to three years from Sproal and Associates. The property offers flexibility of use across retail, office or apartment configurations on the upper level.
52 & 52A Wellington Street, Launceston
A corner retail property of approximately 242 sqm on a 280 sqm site, zoned Urban Mixed Use, sold with vacant possession. The property includes car spaces at the rear.
11 Tiger Moth Court, Western Junction
A 0.43 hectare General Industrial-zoned landholding sold with vacant possession, offered with an existing concept plan for warehouse development.
Unit 12, 30 Innocent Street, Kings Meadows
A clear-span industrial warehouse of approximately 661 sqm sold with vacant possession. The property features 6.0m–6.5m clearance, roller door access of approximately 5.0m high by 4.5m wide, and a quality two-storey office component.
Unit 5, 139–143 Hobart Road, Kings Meadows
A 133 sqm office premises securely leased to National Hearing Centres Pty Ltd, trading as Amplifon, generating net rental income of approximately $36,094 per annum plus GST. The property offers a functional layout including consulting rooms, office and kitchenette, with ducted air-conditioning and a modern internal fit-out.
68 Paterson Street, Launceston
A partially leased office building of approximately 300 sqm on a 550 sqm site, zoned Urban Mixed Use. The property features highly decorative stucco embellishments, with an intact and detailed interior demonstrating increasingly rare technical work of the Art Nouveau period.
North West
19 East Goderich Street, Deloraine
An industrial building comprising an approximate 252 sqm footprint with a total floor area of approximately 420 sqm (including a mezzanine level with boardroom) on a 1,040 sqm site, sold with vacant possession. The property features polished concrete floors, three-phase power, a commercial-standard kitchen, two toilet rooms, carparking, two 5kW air-conditioning units, cool room pipework and security cameras and lighting.
158 Emu Bay Road, Deloraine
A 1,245 sqm industrial facility on a 1.15 hectare site, securely leased to Nutrien Ag Solutions, the Australian agribusiness division of ASX/TSX/NYSE-listed Nutrien Ltd. The lease returns net rent of approximately $190,000 per annum with a WALE of 4.21 years and a further 5-year option. The property occupies a premium corner position at the intersection of Emu Bay Road and Mole Creek Road, linking Deloraine with the greater Meander Valley catchment.
32–34 Goldie Street, Wynyard
A fully let office property of approximately 345 sqm on a 597 sqm site, comprising four separate tenancies — three commercial and one residential — generating current annual income of approximately $59,795.
Unit 5, 11 Anatola Court, Latrobe
A clear-span, portal-framed industrial workshop of approximately 162 sqm on a generous 580 sqm fenced strata allotment, sold with vacant possession. The property is ideally positioned at the rear of the development.
East Coast
1/1 Victoria Street, Swansea
A single-level office building of approximately 146 sqm leased to Bendigo Bank, the only bank servicing the Swansea area. The property offers a functional floor plan.
19 Cobrooga Drive, St Helens
A 7.43 hectare development site zoned General Residential sold with vacant possession. Set across two titles, the property features a 57-lot master plan, with Council approval already in place for the first nine lots.
Disclosure: Tasmanian Commercial Market Wrap only reports on transactions in the Tasmanian commercial property market. Elders Commercial provides this information as a public service. We are not purporting that all sales within this report were transacted by Elders Commercial. Where third-party sales are noted, this data has been sourced from industry providers.