45ha Cambridge Aerodrome seeking an eight-figure sale
No.115 Kennedy Dr, Cambridge. Picture: Supplied
THE Cambridge Aerodrome has a range of buyers knocking on its door — from the aviation industry to developers.
Agents expect it to sell for an eight-figure price.
No.115 Kennedy Dr has been owned by aviation royalty, the Wells family, since the early 1990s.
Known as one of Tasmania’s busiest airports by traffic movements, Cambridge Aerodrome, prime location offers unmatched potential 45ha of land, 196m Kennedy Dr frontage and proximity to Hobart CBD and the Hobart International Airport.
The property has diverse zoning, including light industrial, utilities, and open space, and the potential for rezoning subject to approvals.
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No.115 Kennedy Dr, Cambridge.
Leslie Simpson, Raine & Horne commercial sales and leasing agent, said it was a privilege to facilitate the sale of this cornerstone of Tasmania’s aviation history.
“This sale presents an exceptional opportunity for further aviation development or industrial expansion in one of Tasmania’s fastest-growing precincts,” he said.
The Cambridge Aerodrome was purchased by the Australian Government in 1934, and served as Hobart’s main airport until the opening of the nearby Hobart International Airport in 1956.
Since 1992, the Wells family, owners of Par Avion and Airlines of Tasmania, the aerodrome’s main tenants, has privately owned and operated Cambridge Aerodrome.
This key hub supports general aviation, including emergency services, scenic flights, and pilot training. Par Avion and Airlines of Tasmania occupy most of the site, providing chartered flights, scenic wilderness tours, and pilot training.
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No.115 Kennedy Dr, Cambridge.
The aerodrome boasts two runways with lighting, above-ground aviation fuel facilities, and substantial steel-framed, metal-clad warehouse-style buildings used as hangars for light aircraft and offices.
It offers taxiways, aircraft parking areas, extensive vehicle parking, and an old Aero Club building.
“We already have aviation businesses interested in building on the Wells family’s legacy, as well as developers considering the rezoning potential of the utilities portion of the site, which is about 31.5ha,” Mr Simpson said.
Also, there are light industrial land parcels (around 3.4ha) with significant underlying value.
“It’s a big piece of potential industrial land within arguably Tasmania’s highest growth industrial-commercial precinct,” Mr Simpson said.
Illustrating the growing popularity of the Cambridge precinct, industrial land values have surged significantly, from $110-$135 per square metre in late 2020, to recent sales in the $470-$500 per square metre, per R&H figures.
“Demand continues to be strong while supply remains static, indicating potential for further growth in the short to medium term,” Mr Simpson said.
No.115 Kennedy Dr, Cambridge.
“While we anticipate a sale price reaching around an eight-figure mark, the final value may vary based on the buyer’s plans for the property.
“Its value as a vacant industrial parcel may exceed that of maintaining it for aviation purposes.”
Adding to the development potential of the airport, Raine & Horne Commercial Hobart currently offers three light industrial allotments adjacent to the western boundary of the aerodrome.
The 2859sq m No.33 Cherokee Dr is seeking $1.35m; No.35 Cherokee Dr has 2911sq m for $1.37m; and No.37 Cherokee Dr offers 3077sq m for $1.45m.
No.115 Kennedy Dr, Cambridge is offered for freehold sale by expressions of interest, closing at 2pm on July 9.
