Treasurer Guy Barnett reveals historic Treasury building will go on market

Hobart’s historic Treasury building was first put on the market six years ago. Read why the government is again offering it for sale.

Murry St entrance. Tour of the Hobart Treasury Buildings. Picture: RICHARD JUPE

A Hobart landmark, the historic Treasury building, slated for sale by the government six years ago will be put on the market early next year.

Treasurer Guy Barnett has confirmed the government will seek expressions of interest in the building saying it was time for it to return to the community.

Former Premier and Treasurer Peter Gutwein first announced in his budget speech in 2018 plans to sell the building and inject more than $20m into the government’s coffers and give Hobart a new heritage tourism icon.

Premier Peter Gutwein at a coronavirus press conference on the 19th August 2020. Picture: LUKE BOWDEN

However, the plans were put on hold due to the Covid pandemic.

In 2020 Mr Gutwein told a budget estimates hearing that there had been a “real appetite for investment in the city and also for additional rooms to be built”.

“The pandemic changed that. I do not think it would be wise to take a significant asset like the Treasury building to the market.”

But Mr Barnett said the Treasury building complex was “under-utilised” and a developer could showcase the historic buildings to the “benefit of our economy and our community”.

“We know that the buildings are not well suited to office accommodation and they present a unique opportunity for an investor to take advantage of the heritage character of the buildings and their prime location,” he said.

“There is significant opportunity for a suitable development at the site which would stimulate investment and create jobs during design, construction and into the future.”

The government began an Expressions of Interest process in 2018 but said it decided to close it due to its priority to support and keep Tasmanians safe during the Covid pandemic.

Premier Jeremy Rockliff and Deputy Premier Guy Barnett. Picture: Stephanie Dalton

Mr Barnett said creating opportunities for development and stimulating growth in Tasmania was a government priority.

“We have seen the amazing development at Parliament Square and the Tasman, which has not only preserved the heritage characteristics of the buildings but have made them more accessible to Tasmanians and visitors to enjoy,” he said.

“We know that the Treasury Complex is under-utilised and presents a unique opportunity for the right developer to showcase the buildings for the benefit of our economy and our community.”

The EOI process will open in the New Year.

The Treasury building dates back to 1824 and was once home to the oldest Supreme Court in Australia.

In the past, both business and the tourism industry have strongly backed the sale and have urged the government to seek international expressions of interest to develop the site, most likely into a six-star hotel.

Two years ago Hobart Lord Mayor Anna Reynolds urged the state government to lease parts of the historic Treasury precinct to the private sector and open the buildings up to the public, arguing a “special place for culture, meeting and ideas” could be created.

Originally published as Treasurer Guy Barnett reveals historic Treasury building will go on market