32 Davey Street
Hobart, TAS 7000

Overview

Heritage Corner with Diversified Income and Development Upside

32 Davey Street in Hobart offers a rare opportunity to acquire a distinguished three-level heritage commercial building located in one of the city's most sought-after professional and commercial precincts. This landmark redbrick and sandstone structure occupies a prominent corner position, providing excellent visibility and proximity to Hobart's central business district, waterfront, and key legal and financial institutions.

The property presents a compelling investment proposition, combining established income streams with significant potential for value enhancement across its multiple levels. Each floor offers unique opportunities for investors, owner-occupiers, or developers aiming to capitalize on the location and character of this heritage asset.

The basement level features a striking sandstone footprint that is currently vacant, offering a versatile space with level access from Murray Street. This atmospheric area is ideally suited for a flagship wine cellar, boutique bar, hospitality venue, or a distinctive retail concept, subject to council approval.

The ground floor is leased securely to a long-standing medical tenant, providing a stable and reliable income stream that offers investors a 'set and forget' cash flow from the outset.

The first floor comprises a light-filled professional office suite that is leased and rich in heritage character. This level boasts generous proportions and flexible accommodation, presenting options for continued commercial use, owner occupation, or potential conversion to short-stay accommodation or boutique workspace, subject to council approval.

Overall, 32 Davey Street combines strong underlying income, heritage charm, and future repositioning potential, making it a trophy corner asset with diversified income streams and exceptional upside within the heart of Hobart's CBD. This property is a rare find in a tightly held market and represents an outstanding opportunity for those seeking a landmark commercial investment or development project.

Location