$10m Hobart penthouse in Bensons Property Group project

Melbourne-based developer Bensons Property Group has snapped up the development site close to Sullivan’s Cove

$10m Hobart penthouse in Bensons Property Group project
The Hobart marina

The Melbourne-based developer Bensons Property Group has purchased a Battery Point development site.

It intends to build a $50 million apartment project with a penthouse with $10 million sale prospects.

Close to Sullivan’s Cove, the boutique project is set to be 30 apartments with a $1 million staring price.

The site cost about $7 million through Knight Frank with The Australian reporting the move was driven by the company’s ­chairman and founder Elias Jreissati and wife Colleen, who want to add to the company’s luxury interstate projects.

Completion is expected in late 2023.

Bensons chief executive Rick Curtis said they will work closely with Hobart City Council and the local community on revised plans for the site.

It spans 1442 sqm on the corner of Knopwood St and Montpelier Retreat.

The approved DA allows for the construction of 30 luxury apartments, basement carparking for 46 cars.

The site set 200m from the Salamanca Place and Hobart waterfront was offered with a short term lease to Care Park.

The Jreissati family have owned a Hobart apartment for more than five years in Battery Point.

The Jreissati family supports the arts in Hobart.

The site will include a public open space embedded with art created by Tasmanian artists.

Bensons Property Group is set to create the first high-rise residential tower on Chevron Island, minutes from the beaches of Surfers Paradise.

Its Chevron One project will form part of the new arts and cultural precinct for the Gold Coast.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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