Two adjacent Hobart showrooms seeking expressions of interest

The Hobart showrooms of motoring icons BMW and Renault have been listed for sale in one line. 

Located at 23 and 25-29 Barrack Street, the properties have a collective land area of about 1,969 square metres set over two titles, with future redevelopment potential subject to planning approvals. The combined building area is about 1,013 square metres.

Tasman Auto Group, trading as BMW and Renault Hobart, lease both properties. The combined net annual income is $280,000, which is set to increase early next year.

The expressions of interest campaign run through Paul Tzamalis and Alex Zent of CBRE, in conjunction with Tim Johnstone and Kevin Jubb of Edwards Windsor closes on 14th November.

Mr Tzamalis said the campaign was already generating significant buyer interest given the exceptional location of the two properties coupled with the strength of the tenancy covenant.

The properties are located on the western fringe of the Hobart CBD. The BMW site is located on the corner of Barrack and Collins Streets, whilst the adjacent Renault site is situated on the northern side of Barrack Street.