State Budget 2018: It’s time for Treasury building to have a new life, says Gutwein

A COVETED Hobart landmark will be put on the market in an EOI process which should inject more than $20 million into the State Government’s coffers.

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

A COVETED Hobart landmark will be put on the market in an EOI process which should inject more than $20 million into the State Government’s coffers and give Tasmania’s capital a new heritage tourism icon.

The Government’s intention to sell the Department of Treasury and Finance building was revealed in Treasurer Peter Gutwein’s Budget speech.

After he handed down his Budget, Mr Gutwein indicated he had not always been a fan of disposing of one the capital’s most attractive assets.

But Premier Will Hodgman said he was happy to see it go.

The move to put the building on the market was also applauded by Tourism Industry Council of Tasmania chief executive Luke Martin.

“It is a beautiful building but inside it is a 1950s rabbit warren,” Mr Martin said.

“These are the sensible discussions we need to be having in Tasmania. An outdated office block could soon become one of our iconic tourism sites.”

MORE STATE BUDGET COVERAGE:

TASMANIA POLICE DRONES TAKE TO THE AIR

ANALYSIS: GUTWEIN SURFS THE WAVE OF PROSPERITY

MAJOR COST BLOWOUT HITS HEALTH BUDGET

FOREIGN INVESTOR DUTY SURCHARGE FOR HOUSING

The Murray St entrance to the Treasury buildings. Picture: RICHARD JUPE

Work will start immediately to seek proposals through an expressions of interest process this financial year to drop the site from the government’s property portfolio.

While Mr Gutwein would not reveal exactly how much the Government expected to raise through the sale, he said the building should sell for “a lot more” than its book value of $20 million.

“In recent years there has been much public debate about the best use of this magnificent heritage-listed asset,” Mr Gutwein said.

“It has served the Department of Treasury and Finance for many decades, however, the buildings are not well suited to modern office accommodation and we believe there are better options.

An elaborate staircase inside the Hobart Treasury buildings. Picture: RICHARD JUPE

“In another pair of hands these beautiful buildings will be able to be put to a better use, one that takes full advantage of its heritage character and location.

“That may involve a conversion to visitor accommodation or for a combination of uses.”

Mr Gutwein said heritage tourism was one of the key drawcards for the 1.3 million visitors who came to Tasmania last year.

“Conserving, protecting and re-imagining our heritage listed places is vitally important to their longevity and the future success of our tourism and hospitality industry, however the Tasmanian Government believes these beautiful Treasury buildings could provide the perfect opportunity for a potential investor to take full advantage of its heritage character and prime CBD location.”

Mr Gutwein said the Government was always looking at its property portfolio to see where savings or sales could be made.

“We often sell former police houses or vacant schools,” he said. “It is time for this building to have a new life.”

A beautiful timber door inside the Hobart Treasury buildings. Picture: RICHARD JUPE