Elders Commercial Tasmania is pleased to announce the successful off-market sale of 10 Derwent Park Road, Derwent Park, for circa $22 million, reflecting an initial net yield of approximately 6.15%. The transaction was handled by Elders Commercial agents Scott Newton and George Burbury, with the asset acquired by a private Tasmanian family.
10 Derwent Park Road, Derwent Park TAS
Strategically located within Hobart’s preferred large format showroom precinct, the property is underpinned by strong lease covenants with national tenants Supercheap Auto, RSEA, Baby Bunting, and leading Tasmanian automotive group Jackson Motor Company (JMC). This sale represents one of the state’s most significant retail showroom transactions in recent years.
Positioned in the heart of Derwent Park, the asset is surrounded by major national retailers including Harvey Norman and benefits from a commanding 67-metre frontage to Derwent Park Road. With a total site area of 1.758 hectares zoned ‘Commercial’, a building footprint of approximately 6,453 square metres, and extensive on-site car parking, the property stands as a landmark within Greater Hobart’s LFR landscape.
National Tenant Profile
Commenting on the transaction, George Burbury from our Elders Commercial team in Hobart noted that confidence in Tasmania’s commercial property sector remains strong despite global uncertainty. A falling interest rate environment, coupled with limited new construction activity due to cost pressures, continues to drive investor demand for high-quality existing assets.
For more information about the transaction or to discuss the sale of your asset, please contact Scott Newton or George Burbury.