A prominent Hobart waterfront building has been sold to an interstate investor, with the price paid for the heritage-listed property remaining confidential.
No.11 Franklin Wharf, the former home of Post Street Social and The Observatory Bar, attracted interest from buyers in Australia and overseas during a three-week campaign run by Elders Commercial, Ray White Commercial Tasmania and HTL Property.
The agencies received multiple offers for the standalone freehold property, which sits in the Sullivans Cove precinct.
Built in the early 1900s and heritage listed, the building is one of the most recognisable on Hobart’s waterfront.
It sits directly opposite the Brooke Street Pier, home to the Mona ferry terminal and at the entrance to Salamanca Place.
The property has dual frontages to Franklin Wharf and Morrison Street, with around 1,200 square metres of building area across two levels.
It had undergone a refurbishment worth more than $3 million, including premium bar fit-outs and advanced audibo-visual and lighting systems.
The property was offered with vacant possession, making it suitable for an owner-occupier.
Its location places it roughly 500 metres from the proposed $1.13 billion Macquarie Point stadium precinct, a factor the selling agents said drove significant interest.
National and international hospitality businesses were among those who expressed interest in the property.
No.11 Franklin Wharf previously sold for $8 million in 2017, having changed hands for $1.2 million in 2000, according to property records.
The latest sale price has not been disclosed.
