SOLD: Local snaps up double Derwent Park assets
SOLD: No.9 & 9A Lampton Ave, Derwent Park. Picture: Supplied
TWO side-by-side industrial properties in Hobart have been snapped up by a local investor following strong inquiry during the sale campaign.
The facilities at No.9 and No.9A Lampton Ave, Derwent Park, 7km from the Hobart CBD, were sold for $2.9m.
The deal was negotiated by Knight Frank agents Tom Balcombe and Matthew Wallace on behalf of the syndicate owners following an expressions of interest campaign.
No.9 Lampton Ave is a single-storey industrial building with reception and office totalling 178sq m on a 1881sq m block, which is leased by All Tasmanian Towing until March 2026.
No.9A Lampton Ave is an industrial facility with two levels of office and amenity totalling 935sq m on a 2388sq m block leased by Burke’s Mechanical Repairs until January 2026.
The two properties combined have a net income of $167,648 per annum exclusive of GST.
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SOLD: No.9 & 9A Lampton Ave, Derwent Park.
SOLD: No.9 & 9A Lampton Ave, Derwent Park.
Mr Balcombe said the sales campaign in which the properties were offered to the market in one line or individually, attracted around 50 inquiries, consisting mainly of local investors, as well as some buying groups from interstate.
“There were several aspects about the industrial offering that attracted investors,” he said.
“Buyers liked that the properties were on two titles, with each property having a relatively short-term lease in place, allowing for owner occupancy opportunity or possibly rental upside.
“The facilities also have low site density, with only 23 per cent site coverage, allowing for blank canvas development potential and future upside.”
SOLD: No.9 & 9A Lampton Ave, Derwent Park.
SOLD: No.9 & 9A Lampton Ave, Derwent Park.
The ‘General Industrial’ zoning of the facilities also has flexibility, with various uses permitted such as equipment and machinery sales and hire, manufacturing and processing, storage, transport, service industry, and utilities either ‘Permitted’ or ‘Discretionary’ under the planning scheme.
Mr Wallace added that local investors in particular understood the attractiveness of the location.
“Lampton Ave is one Hobart’s better industrial streets, and Derwent Park is one of Tasmania’s most sought-after industrial precincts,” he said.
“The properties have easy access to the main arterial roadways, being situated just off Main Rd and 800m from the Brooker Hwy, providing excellent convenience to retail, industrial and commercial centres.”
