An iconic Hobart city heritage building has hit the market and is quickly proving popular with buyers.
No.98-102 Elizabeth St’s position is within a vibrant entertainment and dining precinct known as ‘Little Lygon Street’ home to some of Hobart’s best restaurants.
It is set on 506sq m of land with about 20m of frontage to Elizabeth St.
The property is anchored by La Sardina Loca, one of Hobart’s premier hospitality venues.
CBRE from CBRE sales executive George Wilkinson said a property like this is a rare find.
He described it as a high-quality historic property in the city with enviable exposure.
“It is an important piece of Old Hobart-style architecture, and home to some outstanding Tasmanian businesses,’ he said.
“La Sardina Loca is operated by a highly successful ownership group within Hobart’s hospitality scene.
“This vibrant neighbourhood aperitivo bar is housed in a Heritage-Listed sandstone building and is renowned for its Spanish and Mediterranean small plates, locally-sourced Tasmanian seafood, and innovative seasonal cocktails.
“The building is also home to one of Tasmania’s best architecture firms, S.Group, alongside Shemroon Cafe, Smiles on Hobart, Lucky Child Barber Shop, and Faction Consulting.’
Devine Property director Nawwar Alshawi described the property as an uncommon opportunity to secure a premium heritage asset in Hobart’s CBD.
“The property combines stunning original sandstone architecture with modern commercial flexibility,’ he said.
“What sets it apart is the unique covered courtyard space, which is virtually impossible to find in the city centre.
“Given the prime Elizabeth St location and the building’s distinctive character, we’re expecting strong interest from local and interstate buyers looking for a prestigious commercial investment.’
Research by the property’s owner tells the tale of No.100 Elizabeth St’s rich history.
The building was originally built in the 1830s as the Hobart Hotel, part of which burnt down and was rebuilt around 1850.
The sandstone building facing Elizabeth St houses the Westside Apartment on Elizabeth.
Archaeological work on site revealed convict-made sandstone drains and indoor cobbling of very high quality.
The building also houses what is believed to be the oldest remaining flushing toilet in the country, built circa 1900. In 1860, Edward Ash acquired part of the premises and established his own “Chemist & Druggist’, named Ash and Sons.
In 1932, the business was sold to a rival pharmacist, Bob Bester, and was renamed Ash Bester.
In addition to pharmaceuticals, Mr Bester opened a photographic enterprise within the building.
Both businesses operated until the year 2000, and in 2003 an auction of the chemist shop’s contents led to the discovery of medicines and other paraphernalia over 150 years of age.
The building was also the residence of Ettie Rout, whom Etties restaurant was named after (predecessor to La Sardina Loca).
During renovation works in 2015, artefacts such as school exercise books, other books and emblems dating from 1853 were found under the floorboards.
The textbooks belonged to 10-year-old John Rout, whose father had a haberdashery in the building.
These artefacts are now on display in the Westside apartment.
No.98-102 Elizabeth St, Hobart is for sale via expressions of interest, closing at 3pm on August 18.