Hobart's Iconic RBA Building Hits Market After 25-Year Absence
The former Reserve Bank of Australia building in Hobart is up for sale after being on the market for the first time in 25 years. The asset, located at 111 Macquarie Street, has been purpose-built as a trophy holding and is one of Tasmania's most recognisable commercial landmarks. The building was awarded the prestigious Enduring Architecture Award by the Australian Institute of Architects, Tasmania chapter.
It boasts a WALE (Weighted Average Lease Expiry) of 4.56 years, with income fully leased to government and blue-chip tenants. Recent electrification upgrades have also targeted a 4.5 NABERS Energy rating.
Riverlee, the current owner, is focusing on re-investing capital into upcoming Hobart development projects, particularly the Hanging Gardens mixed-use precinct. JLL and Elders are marketing the property as an opportunity to acquire a unique, trophy-grade asset in Australia's most tightly held office market.