A rare opportunity to purchase an entire city block in Hobart’s CBD has emerged, with the former K&D site expected to fetch more than $30 million in what could be one of Tasmania’s largest property transactions of 2025.
The 11,799sqm site comprises of the former K&D Warehouse and a leased office building on Harrington Street.
The warehouse has operated as the Swisherr basketball centre since 2021, under a lease from the University of Tasmania – which purchased the site in 2019 before announcing plans to sell it in 2024.
Claude Alcorso of RWC Tasmania, who is jointly marketing the property, said the site presents an exceptional opportunity.
“Opportunities of this scale and strategic location rarely present themselves, not just in Tasmania, but nationally,” Alcorso said.
The property is being marketed via International Expressions of Interest closing on August 28.
Matthew Wright of Burgess Rawson from Commercial Real Estate Services believes the site will attract significant attention from both domestic and international investors.
“There’s growing interest from international buyers, driven by Tasmania’s attractive yield profile, constrained supply and a strong public sector presence,” Wright said.
He says the site offers development potential across multiple sectors including large-format retail, office towers, shopping centres, hotels or mixed-use projects.
