Raine and Horne Commercial

INSIGHTS SPRING 2018 | 40 TAS | Hobart Leslie Simpson of Commercial Hobart says the commercial property market is absolutely “coming alive” backed by a surge in interest and investment in the Tasmanian capital. Yields are as high as 8.0% on office space, falling to 5.5-6% for retail assets though yields of 7.0% are achievable for industrial assets. Multiple developments are taking place across Hobart that are a racting offshore interest, and while the market is still tightly held, several commercial properties are available in a price range that appeals to owner occupiers and SMSFs. As a guide, Raine & Horne Commercial Hobart currently have listed seven strata-title multi- use warehouses at 6 Kyeema Place, Cambridge. The industrial units range in size from 172 square metres to 183 square metres and come with an asking price of $365,000 per unit. The Cambridge commercial-industrial precinct is forging ahead, reflecting its proximity to Hobart International Airport and the Cambridge Homemaker Centre. Also available via expressions of interest is a unique two storey Georgian style building (c1855) converted to offices. Located with proximity to Sandy Bay and the CBD, the 392 square metre building offers 10-11 car spaces and is zoned ‘mixed use’. The building comes with vacant possession making it ideal for an owner occupier. Hobart “ The Cambridge commercial-industrial precinct is forging ahead, reflecting its proximity to Hobart International Airport. ”