Image: Treasury Complex
In an era where cities are rediscovering their past to reimagine the future, Tasmania’s call to repurpose the Treasury Building Complex in Hobart marks a significant opportunity for adaptive heritage development in Australia.
First announced in November 2024, the Tasmanian Government’s Registration of Interest (ROI) process is now underway, seeking bold, innovative proposals from developers, investors, end-users and interest groups as to how The Complex may be repurposed.
With its commanding presence between the city’s waterfront and CBD, The Complex represents not just an architectural treasure—but a civic one.
Spanning approximately 8,220 sqm of interconnected buildings across a 5,691 sqm site, The Complex benefits from triple street frontage to Davey, Murray and Macquarie Streets.
It has stood as the administrative, political and judicial centre of Tasmania since 1824. But now, the time has come to reconsider how the site can serve a modern, inclusive, and sustainable Tasmania.
Government’s vision is clear: to ‘deliver an innovative and sustainable long-term outcome for the Tasmanian community, while at the same time recognising the role the Treasury buildings have played in the story of Tasmania.’ Presenting a cultural and civic opportunity that demands both reverence for the past and a readiness for innovation.
David McDougall, Partner Advisory+ at Cushman & Wakefield, notes,
“This is a unique opportunity to take a site with deep institutional memory and reinterpret it in a way that serves future generations—socially, economically, and environmentally. Few places in Australia offer this kind of scale and heritage in such a central, connected location.”
Indeed, as cities around the world grapple with the challenge of preserving heritage while enabling growth, Tasmania is seeking adaptive reuse outcomes as a pathway to both economic vitality and community enrichment. The ROI calls for proposals that not only respect historic architecture but also offer ideas for future-proofing the site -enhancing accessibility, promoting sustainability and longevity, and creating spaces that foster public connection.
Tim Olifiers, Associate Director Strategic Advisory – ANZ at Cushman & Wakefield, adds,
“We’re seeing global momentum toward reactivating civic precincts with mixed-use concepts—whether through arts, education, hospitality or innovation hubs. The Complex could easily become an exemplar of that trend.”
Mr McDougall said “The Treasury Complex is more than just eight historic buildings. It is an opportunity to bridge the past with the future, heritage with innovation, and government with community. For those with the vision to see it, this could be one of the most defining development projects in the nation.
Proponents are encouraged to visit: www.treasurycomplexhobart.com.au for further information and share their ideas or proposals for future uses that align with the Tasmanian Government vision.
