Elders Commercial is proud to provide Tasmania’s first market wrap for the commercial real estate market. The Commercial Market Wrap is your go-to resource for the latest trends and key transactions shaping the state’s commercial property market. The report provides a comprehensive summary of recent sales activity across industrial, retail, office, and development sectors, offering valuable insights into investment demand, market performance, and emerging opportunities.
With the largest commercial sales team in the state, Elders Commercial has operatives on the ground in all key markets.
For further information about the state of the market or to get key insights about some of our recent transactions, get in touch with a member of our team today.
South
Sold by Elders Commercial
Unit 5/1 Corvalis Lane, Cambridge – The strata titled industrial property was sold at $3,089 per sqm to a local owner-occupier, following 16 enquiries, with vacant possession.
Unit 1/66 Droughty Point Road, Rokeby – A 270sqm* industrial unit transacted at a 6.8% net yield, purchased by a local investor, following 27 enquiries, with a 3+3-year lease in place.
Unit 3, 13 Cessna Way, Cambridge – The 93 sqm* industrial property was sold for $515,000 to a local owner-occupier, attracting 33 enquiries, with vacant possession.
186 Macquarie Street, Hobart – A 4,622 sqm* development site was acquired by a developer with vacant possession, following a EOI campaign that attracted 119 enquiries.
379 Main Road, Glenorchy – The 232 sqm* retail property was sold at a 6.5% net yield, following 51 enquiries, with an anchor tenant holding 2.2 years remaining on a 5-year lease.
1/15 Franklin Street, Lindisfarne – A 323 sqm* mixed-use retail and office investment was purchased by an interstate investor at a 6.5% yield, attracting 32 enquiries.
Shop 2, 13-15 Wilmot Road, Huonville – The 82 sqm* office asset, leased to H&R Block, was acquired by an interstate investor, following 57 enquiries, achieving a 7.3% yield.
Lot 28 Lukaarlia Drive, Brighton – A 5,119 sqm* land parcel was secured for undisclosed terms, with vacant possession, after 18 enquiries.
Sold by other agencies
35 Hamilton Road, New Norfolk – The 1,394 sqm* industrial property was sold for $420,000, with vacant possession.
58-58A Cambridge Road, Bellerive – This 311 sqm*, dual-tenancy mixed-use asset transacted for $1.58 million.
Lot 1 Willow Walk, Austins Ferry – A 6.23 ha development site was transacted to a local development syndicate, with vacant possession, and price terms undisclosed.
North
Sold by Elders Commercial
231-237 George Town Road, Rocherlea – A 2,253 sqm* industrial property was sold for $3.5 million to a local owner-occupier, following 26 enquiries, with vacant possession.
Unit 2/4 Legana Park Drive, Legana – A 470 sqm* industrial unit changed hands for $950,000, purchased by a local owner-occupier after 11 enquiries, with vacant possession.
1 Legana Grove, Legana – The 1,448 sqm* retail asset, anchored by Pets Domain, was sold at auction for $3.855 million, following 18 enquiries, with a 10-year lease in place, reflecting a 5.45% yield.
114 Victoria Street, George Town – Sold off-market, this industrial property achieved $3.25 million, settling with vacant possession.
13 Cecilia Street, St. Helens – The Mitre 10-tenanted retail property was transacted in an off-market sale.
Sold by other agencies
1 Steel Street, Scamander – The 837 sqm* hotel/tourism asset was sold under vacant possession, with the final price undisclosed.
Part, 41 Brisbane Street, Launceston – A 1,368 sqm* development site was secured for undisclosed terms, with future use as a parking site.
393A-393B Invermay Road, Mowbray – A 1,279 sqm* retail asset, featuring multiple tenants, was sold for an undisclosed amount.
51 Brisbane Street, Launceston – The 223 sqm* retail property sold for $695,000, with a month-to-month lease in place.
North-west
Sold by Elders Commercial
Lot 23, Park Avenue, Penguin – The 2,668 sqm* development site was secured for undisclosed terms by an interstate developer, following 17 enquiries, with vacant possession.
7 Orchard Crescent, Spreyton – A 2,499 sqm* land parcel was transacted for $330,000, purchased by a local developer, following 6 enquiries, with vacant possession.
10 Marconi Court, Stony Rise – A 1,732 sqm* land parcel sold for $260,000 to a local developer, following 5 enquiries, with vacant possession.
23 Hillcrest Road, Devonport – A 218 sqm* industrial building was sold for $320,000 to a local investor, following 10 enquiries, with vacant possession.
24-28 Stewart Street, Devonport – The 581 sqm* retail property was sold off-market to an interstate investor, with the asset tenanted by four retailers, achieving a 6.42% yield.
Sold by other agencies
22 Forbes Street, Devonport – The 400 sqm* retail property was sold with vacant possession, with the final price undisclosed.
200 Gilbert Street, Latrobe – A 767 sqm* retail property sold for $550,000, with vacant possession.
*approximate
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 and leases within this report were transacted by Elders Commercial. Where third-party sales are noted, this data has been sourced from industry providers.