Major Hobart CBD office sold
A state government and ANZ bank backed office with development upside has traded in Hobart’s CBD.
The 3076 square metre property, 59-63 Liverpool Street, with the tower at the corner of Argyle and Bathurst, collected $67.65 million – a 7.24 per cent yield.
The result values the (10,511 square metres of) lettable area at $6436.
In the city’s medical and education quarter, the building also contains a multi-level, 331-bay car park, managed by Sultan Parking.
Long lease
Insignia Financial also occupies 59-63 Liverpool St.
The weighted average lease expiry is 8.9 years by area and 8.2 years by income.
The NABERS Energy rating is 5 star.
JLL’s Piper Dedrick, Tim Carr, Josh Rutman and MingXuan Li were the agents.
Seven offers came in following an expressions of interest campaign closing September.
The buyer is a private investor.
The deal comes five months since we reported Singapore’s Fragrance Group bought the city’s Saint David Junction pub with plans for a high rise hotel.
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