Local snaps up Battery Point hotel in multimillion-dollar deal

A Tasmanian has purchased this historic Mona St property, beating out interested parties from interstate and overseas.

A Tasmanian has purchased No.8 Mona Street, Battery Point. Picture: SUPPLIED

A LOCAL investor has purchased a historic Battery Point property for a multimillion-dollar sum.

No.8 Mona Street fetched $4.06 million or over $450,000 per room.

Hobart agency Knight Frank received almost 70 inquiries and ran a campaign that generated four offers.

8 Mona Street, Battery Point.

George Burbury, commercial sales and leasing agent, said the sale price was in line with expectations and that the Grand Vue Private Hotel will continue to operate as a boutique hotel following some minor cosmetic work ahead of summer’s tourist trade.

“The campaign was a competitive process with interest from our mainland and overseas contacts,” he said.

“The eventual purchaser was a local investor who competed against multiple unconditional bids.

“The result is an encouraging sign of investor belief in the Tasmanian tourism market.”

8 Mona Street, Battery Point.

The stately Mona Street property was built as a family home in 1906 and is an example of Queen Anne architecture.

Throughout the property there are marble bathrooms, leadlight panels, fireplaces, a grand staircase, water views, two street frontages, wide hallways and plaster mouldings.

Due to the residential zoning of the property and its original use as a residence, the 10-bedroom, 10-bathroom property was marketed by the agency’s residential and commercial teams.

This led to an “unprecedented” level of buyer inquiry.

“Notably, high net-worth mainlanders wishing to relocate to Tasmania were interested in this property,” Mr Burbury said.

Originally published as Local snaps up Battery Point hotel in multimillion-dollar deal