Economy
From bricks to homes for old Kemp and Denning brickworks factory site
THE real estate industry has welcomed a proposal for the biggest residential subdivision in Hobart since the 1970s on prime land in New Town.
Tasmanian company Kemp and Denning Ltd has announced plans to sell the 10ha site of its former brickworks to a residential property developer.
The sale hinges on Hobart City Council approving the development application for about 100 residential lots.
Industry analysts believe the estimated $50 million development, about 4km north of Hobart’s CBD, would be unique in Australia with such close proximity to the centre of a capital city.
Real Estate Institute Tasmania president Adrian Kelly said the Giblin St site offered a rare opportunity to residential developers — close to schools, public transport, hospitals, doctors and shopping centres.
“There has been no decent land release in central Hobart for decades,” Mr Kelly said.
The development application is being managed by Hobart real estate stalwart Hank Petrusma.
Many of the lots would have views of Mount Wellington or across New Town.
Mr Kelly said the site buyer “without doubt will be on to a sure thing”.
• Earlier on Tasmanian Times: Brickworks closure creates housebuilding opportunities