Australia Post distribution centre sold in Hobart
An Australia Post distribution centre in Hobart’s north west Derwent Park has traded between private investors.
The 3954 square metre irregular shaped property, 11C Lampton Avenue, achieved $4.4 million.
It previously sold in 2023, for $4.215m.
Then, the federal government was paying c$265,000 annual net rent on a lease with annual CPI reviews, and allowable rent rises between 2.5-5 per cent.
That agreement expires next year when the government can exercise a five year option.
Australia Post has occupied the complex, with an 1816 sqm warehouse, since it was developed in 2002 (continues below).
“Positioned within Hobart’s premier industrial precinct of Derwent Park, the property benefits from proximity to major national retailers, logistics operators and the major arterial roads, reinforcing the long term investment fundamentals of this location,” CBRE’s George Wilkinson, who marketed 11C Lampton Ave with Matthew Wright, said.
“This transaction further demonstrates the strong appetite from private investors seeking government-leased industrial assets in supply-constrained markets,” he added.
Derwent Park is about six kilometres from the city.
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