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Jetty in Hobart’s Sandy Bay on the market for the first time

November 5, 2018

The private jetty is one of only two in the bay. Photo: Knight Frank

One of only two private jetties in Hobart’s picturesque Sandy Bay is up for grabs after its six owners decided to put it on the market.

The Waimea Jetty on Sandy Bay Road is up for sale for the first time as a “whole opportunity”, with all six licences for the jetty on the market.

The sale of the six licences together for the first time gives a new owner complete control over the private jetty, Knight Frank’s Matthew Wright, who is overseeing the sale, said.

The jetty is being sold by the six owners for the first time. Photo: Knight Frank The jetty is being sold by the six owners for the first time. Photo: Knight Frank

“We brought one of the six licences to the market six months ago,” Mr Wright said. “That had a lot of interest but the issue was only buying one, so the rest of the owners got together and put them all up. It’s the first one we’ve offered and the first time this one has been offered ever.”

The jetty is under a 25-year licence agreement with the state government which began in November 2016, with an annual licence fee collectively of $5,400.

Mr Wright said it was the first time he’s overseen the sale of a jetty, and the first of its kind he’s seen offered in Tasmania.

“It’s unique, it’s different and it’s very rare,” he said. “It’s one of only two private jetties in Sandy Bay, and it’s very well known, being on Sandy Bay Road. Everyone that drives past it knows it.

The jetty has an entertaining area that overlooks the bay. Photo: Knight Frank The jetty has an entertaining area that overlooks the bay. Photo: Knight Frank

“We’ve had a number of people ring up to ask if the whole jetty is up for sale, and they’re blown away. It’s very rare.”

The uniqueness of the sale means no one is quite sure how much it will go for, and Mr Wright said there was no price guide, but one of the six licences did recently sell for $80,000.

The jetty was built in the 1960s, and features a private entertaining area, storage facilities, davits (or cranes) and moorings directly off the jetty.

The owner will be able to dock their boats at the jetty, but any prospective buyer will need to check whether further development opportunities like Airbnb or hospitality was allowed.

The jetty is on a 25-year lease. Photo: Knight Frank The jetty is on a 25-year lease. Photo: Knight Frank

“We’re unsure of that so in the expressions of interest process they need to go and do their own due diligence,” Mr Wright said.

The jetty has already attracted a large amount of interest from a diverse group of prospective buyers, he said.

“There have been a couple of internationals already, some local guys with significant properties in Sandy Bay that have boats, and some sailing people have got a consortium together that wouldn’t mind having a crack at it, and there are some investors and
developers,” he said.

Many of the six current owners have passed the jetty down through generations, and decided now is the time to hand it over to other families.

“A lot of the owners have owned it throughout generations,” he said. “They’re at the end of the generational cycle now – a lot of these guys had it when they were kids, and their kids are now grown up. There could be a consortium that puts together another six people with families on it.”

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