89 Cambridge Park DriveCambridge TAS 7170
Property Details for 89 Cambridge Park Dr, Cambridge
Last Listing description (May 2019)
Knight Frank and JLL are pleased to offer for sale 89 Cambridge Park Drive, Cambridge Park, Tasmania for Sale by Expressions of Interest.
The property comprises a high quality, substantial commercial complex with a single level 'A' grade office building (approx. 5,825 sqm) constructed circa 2008 plus a separate warehouse/store (approx. 1051 sqm) and approximately 163 car parking bays. The property has a strong lease covenant with a 16 year lease from April 2008 to Tasmanian Government Business Enterprise (GBE), the Hydro Electric Corporation.
The property is strategically located with a large, level, high profile site within the rapidly developing area of Cambridge, approximately 10 minutes east of Hobart's CBD, adjacent to Hobart's only homemaker centre and within proximity to Hobart's airport.
- Modern 'A' grade office building and store with a NABERS rating of 4 stars
- Fully leased to Tasmanian Government Business Enterprise (GBE), the Hydro Electric Corporation (Hydro Tasmania)
- Secure cash flow with a Current Net Income of $2,852,119 pa (approx)
- WALE of 5.5 years (approx)
- Situated in a rapidly expanding commercial precinct within Hobart's eastern growth corridor with easy access
- Strong and growing Tasmanian economy as it has transitioned towards higher order service industries and premium products with global recognition, which is having a significant positive impact on its property market.
89 Cambridge Park Drive, Cambridge, Tasmania is being offered for sale in conjunction with 7 Laffer Drive, Bedford Park, South Australia. The assets may be acquired together or individually. 7 Laffer Drive is leased to Westpac with a new 7 year lease expiring in 2025. Total portfolio income is approximately $4.6 million with a portfolio WALE of approximately 6 years.
Please contact the agents for further information.
Property History for 89 Cambridge Park Dr, Cambridge, TAS 7170
- 12 Feb 2019Sold for $25,000,000
- 07 Nov 2018Listed for Sale Expressions of Interest
- 08 Jul 2008Sold for $3,176,000
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0About Cambridge 7170
The size of Cambridge is approximately 50.1 square kilometres. There are 9 parks, covering nearly 15.9% of the total area. The population of Cambridge in 2016 was 1161 people. By 2021 the population was 1454 showing a population growth of 25.2% in the area during that time. The predominant age group in Cambridge is 60-69 years. Households in Cambridge are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Cambridge work in a professional occupation.In 2021, 85.00% of the homes in Cambridge were owner-occupied compared with 85.50% in 2016.
Cambridge has 1,322 properties. Over the last 5 years, Houses in Cambridge have seen a 25.84% increase in median value, while Units have seen a 26.39% increase. As at 30 April 2026:
- The median value for Houses in Cambridge is $966,792 while the median value for Units is $671,162.
- Houses have a median rent of $498.
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