Rare Battery Point boatyard with upside for sale
No.18-44 Napoleon St, Battery Point. Picture: Supplied
THIS Battery Point property is a true one-of-a-kind.
Do a search for commercial property sales in Tasmania’s most prestigious suburb where 2400sq m of land was on offer. The result will be zero.
Adding in the waterfront factor makes this riverside property all the more exclusive.
Expand the search to the residential market, non-waterfront, and there has been just one sale of this size in Battery Point: historic estate and former zoo Beaumaris House.
No.18-44 Napoleon St, Battery Point is currently the home of the iconic Muir’s Boatyard Complex.
No.18-44 Napoleon St, Battery Point.
No.18-44 Napoleon St, Battery Point.
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Partners at Knight Frank, Scott Newton and Richard Steedman, describe the property as a “prime inner city waterfront holding” in a tightly held marine precinct with the potential for further development.
“Purchase this leasehold interest as a straight investment with rental upside, part owner occupation, or future redevelopment — this extraordinary waterfront opportunity has it all,” they say.
The Muir’s complex offers 2405sq m of prime waterfront land, currently zoned “Battery Point Slipyards” and held by virtue of long-term leases from the Hobart City Council plus a Crown Land lease for an additional 1114sq m of water and slipway.
No.18-44 Napoleon St, Battery Point.
No.18-44 Napoleon St, Battery Point.
The property is being sold subject to existing leases for about 84 per cent of the complex.
The boatyard incorporates three main buildings, divided into nine tenancies, alongside the yard area, slips and jetty. There is only one tenancy that is currently vacant.
Mr Newton and Mr Steedman said this will provide a good level of income with potential for growth in the short term, while there will also be opportunity for owner occupiers to occupy part of the site immediately.
No.18-44 Napoleon St, Battery Point.
No.18-44 Napoleon St, Battery Point.
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The marine related zoning is extremely unusual, particularly on the doorstep of Hobart’s CBD and the Royal Yacht Club of Tasmania and the Derwent Sailing Squadron.
The property at No.18-44 Napoleon St, Battery Point is for sale via expression of interest, closing July 20 at 4pm. Contact Scott Newton or Richard Steedman on 6220 6999 for details.
