Demolition in Hobart and City Deals

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Demolition has begun at Hobart’s old Retravision site for a new 30-apartment complex. Retravision will make way for the new development, approved by Hobart City Council in 2017, called Commons Hobart. Small Giants Developments, a Melbourne-based property developer, will build the six-storey development at the corner of Watchorn and Bathurst streets. The complex will feature a ground-floor cafe, commercial space, a rooftop garden, a publicly accessible garden, a ground-floor communal area, 32 bike spaces and a carshare scheme that will limit the number of car spaces to just five. The Mercury

Hobart’s City Deal is expected to be signed in the next two weeks. Originally slated to be locked in by the end of last year, hopes of finalising the deal have been disrupted by the holiday period. The contents of the deal have not yet been made public but the key elements floated to date include $461 million for the Bridgewater Bridge, the $400 million University of Tasmania STEM centre, a light rail system and modern public transport as well as redevelopment of Macquarie Point, including an Antarctic precinct. The Mercury

Adrian said negative gearing... had been turned into an election issue — for the coming election and at the previous one, too. “What tenants don’t realise is it might sound like a good thing, but be careful what you wish for,” he said. “There are a lot of property owners in Tasmania and around the country that negatively gear their property...” he said. “In the Hawke-Keating days, they abolished negative gearing then reinstated it six months later. What happened was, property owners who had been breaking even on investment properties and then getting a tax return back, they all put their rent up to cover their loss.” 

BATTERY Point and South Hobart were named among the 10 most in-demand property markets in Australia in the latest report. The Property Outlook January 2019 revealed Battery Point was the No.2 suburb in the nation. And it was just 135 clicks per listing behind chart-topping Middle Park, Victoria. Battery Point properties attracted 5923 views per listing last year while sixth-placed South Hobart clocked in at 5460.