367-379 Elizabeth Street, North Hobart, Tas 7000

Ray White Commercial Tasmania and Burgess Rawson is pleased to offer to the market, 'The State Cinema' Landmark Hobart Investment Collection located 367-379 Elizabeth Street, 31 Strahan Street & 82 Federal Street North Hobart, Tasmania.

This premium opportunity has the following key investment highlights:

+ State Cinema: Established in 1913 with rich heritage throughout the Hobart community with capacity for over 700 patrons and operating 11 screens including a rooftop cinema, cafe, bar and bookstore. (1)
+ Long Ten (10) year lease to 2029 plus options to 2039 to Reading Cinema's with the tenant responsible for 76% of total building statutory outgoings.
+ Reading Cinemas: Proven operators with long standing history in Australia with 29 locations and 210 screens across the country. (1)
+ Reading International (NASDAQ: RDI): Highly successful international entertainment powerhouse with 57 movie cinemas and 457 screens worldwide, plus large Shopping Centre ownership portfolio. (1)
+ Diversified income through Seven (7) additional tenancies leased to market leading tenants including a legal services office, Visual Eyes Optometrist, Kathmandu Restaurant. Lake Leather, LTB Network, Superstar Karaoke and 'Federal Street' Automotive.
+ Prime and significant 3,971sqm* corner landholding, as the centrepiece to the North Hobart Commercial/Entertainment Precinct.
+  Impressive 5,043sqm* of lettable area across the collective, matching the corporate layout and design of all the tenants including an immaculate purpose-built cinema offering.  
+ High profile inner metro location with development potential. 
+ Position perfect, located within Elizabeth Street which is a key entertainment and dining precinct with Hobart's most intensive concentration of restaurants.
+ Surrounded by a number of national tenants including ZAP, Subway, Nando's, Grill'd, Chemist Warehouse as well as renowned pubs; Queen's Head Hotel & The Winston. 
+ Hobart: Projected to experience significant growth, with the population expected to increase by over 10.7% by 2046. (2)
+ City of Hobart: Robust and steady economy worth $9.15 Billion in gross regional product. (3) 
+ Estimated Income: $1,315,971per annum* + GST

For Sale via Expressions of Interest closing Thursday 13th March 2025 4pm (AEDT)

For more information, please contact the RWC Tasmania and Burgess Rawson Sales Team

RWC
Claude Alcorso
0417 586 756

Matthew Wallace
0418 136 086

Burgess Rawson
Matthew Wright
0458 290 588

Beau Coulter
0413 839 898

*Approx
1. Reading International Annual Report 2024
2. .id 
3. REMPLAN