Franklin Wharf bar and nightclub offers rare Hobart waterfront opportunity
A fixture of Hobart’s nightlife scene, 11 Franklin Wharf is now offering investors and operators the opportunity to own a landmark site in one of Australia’s most tightly held precincts.
In the heart of Sullivans Cove, which was the birthplace of Hobart and is now a popular tourist site, the property combines history with future flexibility.
In recent years, the precinct has undergone a significant transformation, driven by projects such as the nearby Brooke Street Pier, which is a striking floating terminal that has helped activate the waterfront.
The c1885 building at 11 Franklin Wharf was built as a police barracks and occupies a 679-square-metre site with about 1200 square metres of floor area.
Unlike many passive investments in tightly held waterfront locations, the property has a clear pathway to vacant possession, as the existing leases on Post Street Social bar downstairs and The Observatory nightclub upstairs expire in mid-2027.
According to Ray White Commercial Tasmania’s Tom Balcombe, opportunities of this scale and position rarely come to market in Hobart, particularly with the added advantage of future owner-occupier flexibility.
“It’s really an owner-occupier play, or for those investors who have the ability to backfill the future vacancy with suitable tenants,” he says. “We’re seeing strong interest from mainland groups looking to take over the asset and reposition it, either as a whole or in parts.”
Balcombe says the property’s waterfront prominence adds to its appeal.
“I think just about everyone in Hobart knows this building,” he says. “It sits right on the doorstep of Franklin Wharf, the Mona ferry terminal and the Salamanca precinct. It’s a beautiful old building with incredible foot traffic, particularly in the summer months.”
With a call for offers over $12 million, the campaign is likely to attract a mix of private investors, hospitality groups and interstate buyers looking to capitalise on Tasmania’s continued growth trajectory.
Balcombe says Hobart’s hospitality sector has evolved significantly in recent years, broadening its appeal and strengthening demand for well-located venues.
“Hospitality has become a really sought-after asset class,” he says. “It’s no longer just about traditional pubs; you’ve got strong dining precincts in North Hobart, Salamanca and along the waterfront, and that whole Franklin Wharf area has really benefited from that spread.
“I think when you combine that with how tightly held these waterfront properties are, you’re getting the best of both worlds.”
