Elders Tasmania announces the sales campaign for The Gibson’s Mill, located at 17 Morrison Street, Hobart. This unique property, featuring 12 self-contained apartments with 8 car spaces on a single title, is now available for sale with vacant possession, offering buyers the chance to acquire one of Hobart’s finest accommodation properties.

“The location of this asset is what buyers are really excited about – its proximity to Salamanca, Battery Point, and the city’s bustling CBD is fantastic. With the recent lodgement of the planning documents for The Macquarie Point Stadium, 17 Morrison Street could be walking distance to some of the world’s best sporting and music events” says Claude Alcorso, Commercial Sales & Leasing at Elders Tasmania.

The property’s history of success under management and its versatility—either as luxury apartments or as strata-sellable units—positions it as a landmark opportunity in the Tasmanian real estate landscape. The Hobart market continues to see strong demand for premium accommodation and investment properties, making this an exceptional opportunity for buyers. “Hobart’s hotel outlook looks really positive over the next few years as a favourable supply and demand equation takes hold” says Tom Balcombe, Commercial Sales & Leasing at Elders Tasmania.

“The launch of the Gibson’s Mill campaign represents a significant opportunity for astute investors looking to capitalise on Hobart’s thriving high-end property market,”.

“With its prime location, rare vacant possession, and strata approval, this property stands out as one of the most unique and high-potential investments currently available.”

The Gibson’s Mill property has been a well-regarded accommodation choice in Hobart which investors can take great comfort in. “The property is fully booked through to February 2025”. The potential for the apartments to be sold down individually, further enhances the property's value for investors. 17 Morrison comprises 6 one-bedroom apartments, 4 two-bedroom apartments, a two-bedroom penthouse, and a three-bedroom penthouse.

Gibson’s Mill is for sale by Expressions of Interest closing Thursday 24 October 2024 at 4pm (AEDT). For more information, please contact the listing agents shown below.