Battery Point apartments to set a new benchmark
THE developer of one of Tasmania’s most intriguing and prestigious residential developments is looking for a partner to help bring it to fruition.
Elliott’s Apartments will be the most significant new complex to be built in Tasmania’s premium property market, Battery Point, in many years.
The last time home hunters could find this type of high-end housing in this area and on this scale would be the Salamanca Square apartments that were built in the late 1990s, or more recently Salamanca Mews.
The owner of the site has planning and building permits in place for 30 apartments to be constructed within two buildings on a site currently used for car parking.
The building was designed by award-winning Hobart-based architect firm Circa Morris-Nunn.
As well as searching for the right organisation to partner with on the construction of the apartments, the vendor is also seeking expressions of interest from potential buyers who would like to purchase an apartment.
On offer is a mix of two- and three-bedroom apartments, including penthouse options.
AG Projects managing director Antonio Galati said they are running a national campaign to find the ideal investor or developer to partner with.
“We see Hobart as a hot spot for development and investors,” he said.
“There is a lot going on in Hobart, and the Elliott’s project gives people an opportunity to capitalise on the city’s popularity.”
Antonio said for anyone looking to develop property in a heritage area such as Battery Point, expertise and sensitivity were key considerations.
“Our architect Circa Morris-Nunn is known for its amazing work, and it has been a big help in achieving the right aesthetic that we were after,” he said.
“Their architects and designers understand what the character of Hobart is and what can be done in that context.
“It was a big ask to design a building where the facades would work well, it would fit into the existing street-line and be appropriate while also modernising the area and being somewhat forward-thinking.”
The building will include a top-floor communal terrace, an indoor pool and 46 off-street parks.
In 2017, 500 potential buyers inquired about the apartments.
This proved to the developer that there was more potential for growth in the Hobart market.
“He believed it was better to hold off and has since been proved correct, as Hobart has seen increases of about 25 per cent in market in past 30 months,” Antonio said.
He said that since launching the campaign a week ago, there had been very strong interest in the project.
Visit Elliotts.info to inquire about this joint-venture opportunity or to see the available apartment floor plans.