Property developer and former whisky entrepreneur Robert Hosken has sold Hobart’s historic Gasworks Village site for approximately $7.5 million to an unnamed Asian religious group.
Located at 2 Macquarie Street, the property forms part of the historic Sullivans Cove Precinct which is adjacent to Hobart’s renowned Old Wharf, The Henry Jones IXL jam factory and old Wapping district.
Knight Frank’s Tasmania’s CEO – Scott Newton, negotiated the sale, said, “The ‘Gasworks Village’ strata title property was sold as a portfolio, with a yield of seven per cent and attracted significant interest from both local and offshore buyers.”
“Located at one of Tasmania’s highest traffic thoroughfares and the gateway to Hobart, the unique historic property was redeveloped in 1995 and has since been a strong commercial hub.
“Vantage Hotel Group and Hogs Breath Café have occupied and traded from this prominent site for many years with the remaining three lots of the lots sold as vacant.
“We are currently experiencing a surge in demand from buyers for quality assets, such as the ‘Gasworks Village’, in Hobart and across Tasmania,” added Mr Newton.
Placed on the market for the first time in 21 years, ‘Gasworks Village’ site consists of mixed use five lots and is zoned “Sullivans Cove Mixed Use” under the Sullivans Cove Planning Scheme.