No.24 Salamanca Square, Battery Point. Picture: Supplied
It has been decades since this Battery Point property was last available for purchase.
And its agents expect significant interest when it launches onto the market this week.
No.24 Salamanca Square is home to the national bakery franchise Banjo’s and the longstanding hospitality operator Botanica Bar. Telstra is also an infrastructure tenant.
The property is expected to sell in the $10m price range.
Elders Commercial agents George Burbury and Scott Newton said the location is impeccable, right in the middle of the Salamanca precinct, historically Tasmania’s most sought-after area.
“This area commands the lowest yields and the highest prices, because of the unique nature and the scarcity of assets in this location,” Mr Newton said.
MORE: Major Moonah ‘Gateway’ site for sale
Landmark Tas logistics portfolio for sale
Tassie gov hub seeks new landlord for $20m+
No.24 Salamanca Square, Battery Point.
No.24 Salamanca Square, Battery Point.
No.24 is positioned on a prominent corner of Salamanca Square, adjoining Salamanca Pl.
The two-storey heritage warehouse offers 753sq m of floor space across both levels.
Redeveloped in the late 1990s, the buildings showcase historic features including sandstone rubble and ashlar external walls, with original convict-era stonework exposed internally across both tenancies.
Exposed structural timber roof trusses with iron tension rods define the upper-level Botanica venue and the Banjo’s trading floor.
Original wide-board hardwood flooring is showcased throughout the ground and upper levels.
Above, a pitched corrugated metal roof features original gable-end brickwork and twin rendered chimney pots.
An A-frame attic space has original sawn rafters. It is currently fitted out as Botanica’s private function venue, The Loft.
MORE: Hobart family secures historic Lasswade
Historic manor: Chance to own a Tassie icon
Tired of modern homes? Buyers flock to 70s classic
No.24 Salamanca Square, Battery Point.
No.24 Salamanca Square, Battery Point.
Mr Burbury said purchasers would see value in the location, the size, and the historic nature of the buildings, alongside a strong lease covenant with options until 2036 and 2040.
“We expect inquiries from sophisticated investors,” he said.
“Local private operators, syndicates, and mainland-based investors — we anticipate very strong national interest.”
Although transactions are infrequent in this area, the Machine Cafe asset is under contract, and nearby, No.2 Montpelier Retreat and No.27 Salamanca Pl were sold this month.
Mr Newton sold Salamanca institution The Den building last year at a 4.62 per cent yield and in excess of $6m.
Expressions of interest for No.24 Salamanca Square, Battery Point will close in mid-June.