A landmark heritage building at 27 Salamanca Place has been put up for sale for the first time in nearly five decades, with Fall Real Estate agent Justin Parr predicting it will set a record for the iconic strip.
The 1840 convict-built property houses the established Waterman’s Hotel on the ground floor and eight studio apartments across two upper levels.
“It is, without doubt, the most recognisable spot of real estate in Tasmania,” Parr said.
The agent said inquiries have already come from interstate and overseas, including Sydney and Hong Kong.
“It is pleasing for all of us as proud Tasmanians where you do not have to explain the Salamanca positives because they already know it,” he said.
The three-storey building generates $296,123 annually through long-term hospitality and accommodation leases.
Parr described it as a “generational purchase”.
The property sits in the heart of Tasmania’s premier tourism precinct, benefiting from the foot traffic of thousands of visitors on a Saturday alone during the Salamanca Markets.
Waterman’s Hotel, which has operated successfully for about 25 years, will remain under its substantial lease agreement.
When contacted by Pulse, a spokesperson for Waterman’s said they weren’t going anywhere, it was just the building up for sale.
Parr said Waterman’s Hotel was “booming”.
“That’s an excellent proven long-term operator,” he said.
“They have a substantial lease, as do the accommodation lessee [on levels two and three].”
“So they are not going anywhere.”
The eight studios above were designed by Tasmanian architect Mark Drury with potential for strata conversion subject to council approval.
Parr pointed to major infrastructure investments boosting the area’s appeal, including the recently approved $1.13 billion Macquarie Point stadium and Hobart Airport’s $200 million upgrade.
“We’ve got something that the rest of the world wants. It’s Salamanca,” he said.
The sale is by expressions of interest, closing on April 7.
Parr expects the sale to break records for the tightly held commercial strip.
