For sale: No.67, 1/69 Liverpool St, and 2/54 Bathurst St in Hobart. Picture: Supplied
The future of Hobart’s Brunswick Hotel site is set to be revealed with the property being listed for sale.
The city pub, which dates back to 1827, was destroyed by a fire in mid-2021.
Now, No.67 Liverpool St and adjoining properties 1/69 Liverpool St and 2/54 Bathurst St have been aggregated into a mega site of 2041sq m right in the heart of the CBD.
Agents describe it as the “most significant Hobart CBD development opportunity to come to market in nearly two decades”.
Ray White Commercial Tasmania partner Hayden Peck said the asset presents a once-in-a-generation opportunity.
“Opportunities of this scale, in this location, with this level of preparatory work already completed, simply do not come around in Hobart,” he said.
“What sets it apart is the scope for height and scale, 60m high and up to 34,000sq m of built environment.
“It presents investors and developers with a rare chance to shape the next chapter of the city’s skyline.”
MORE: QV Tower sold in landmark Launceston deal
Take a bite of this Whopper property deal
For sale: No.67, 1/69 Liverpool St, and 2/54 Bathurst St.
Located behind the preserved facade of the historic Brunswick Hotel, the site occupies a prime position within the city’s main commercial and retail corridor.
It is within walking distance of the Royal Hobart Hospital, major retailers, and civic and legal precincts. It is a 900m walk from Macquarie Point and the future football stadium.
Mr Peck said the site is primed for high-density development, underpinned by extensive due diligence, including investigations supporting a 250-plus key hotel.
“Hobart is facing a material shortage of hotel accommodation, and the approval of the Macquarie Point Stadium is expected to significantly accelerate demand for hotel, residential and commercial space in the surrounding area,” he said.
MORE: Home and a business for the price of a house
Brunswick Hotel fire: One of Hobart’s oldest pubs on fire
Artist impression of the property’s hotel potential. Picture: Supplied
Comparable property sales are few and far between.
The former Myer site, now home to the Crowne Plaza, sold for $16.1m in 2009, while Elizabeth St’s Mövenpick Hotel site achieved $7736 per square metre in 2017.
Last year, a little further out of the city centre, car dealership company Tony White Group purchased the 11,799sq m K & D city block from UTAS for $31m.
RWC Tasmania partner Matthew Wallace said this highlights the scarcity value of large, scalable CBD sites.
“This offering arrives at a pivotal moment for Hobart,” he said.
“As the city continues to evolve into a nationally and internationally recognised destination for tourism, events and business, developments of genuine scale will play a critical role in shaping its future.”
The Liverpool and Bathurst St property is within the Central Precinct of the Tasmanian Government and the City of Hobart’s Central Hobart Plan.
It is for sale by expressions of interest, closing on March 19.