The energy at last week’s Property Council of Australia – Tasmanian Outlook 2025 event was unmistakable—Tasmania is not just on the radar, it's firmly in the spotlight.
An impressive cross-section of presenters shared insights into the economic, planning, retail and housing sectors, painting a picture of a state in motion.
According to David McDougall, Partner Advisory+ Cushman & Wakefield, “There was a noticeable uplift in confidence - a sense that momentum is building. Population growth is underpinning stronger business sentiment, and job creation is following suit. The data is promising, but so is the mood.
“And perhaps nowhere is that optimism more tangible than in the Tasmanian Government’s current Registration of Interest (ROI) campaign for the repurposing of the Treasury Building Complex in Hobart” he said.
First announced in November 2024, the ROI process now enters its critical final weeks. This is a timely opportunity - not just for developers or investors, but for visionary place makers who see the value in adaptive reuse, cultural preservation and civic reinvention.
“The Treasury Building Complex is no ordinary site. With its triple street frontage to Davey, Murray and Macquarie Streets, and a footprint of over 8,000 sqm across a 5,691 sqm site, its heritage and centrality give it both gravitas and potential. For more than two centuries, it has stood as the administrative, political and judicial heart of Tasmania. But now, a new chapter is being written” said Mr McDougall.
The Government has set a bold but thoughtful brief: to "deliver an innovative and sustainable long-term outcome for the Tasmanian community, while recognising the role the Treasury buildings have played in the story of Tasmania”.
Mr McDougall said this is more than a development play – “It is an invitation to contribute to the cultural fabric of the state. With strong investment activity already evident across multiple sectors, and Government, infrastructure agencies and private capital aligning proactively, the conditions are right for transformation. Now is the time for ambitious ideas”.
The ROI window closes soon. For those with the imagination to repurpose heritage with meaning - and the capability to deliver outcomes that resonate across generations - this is Tasmania’s call to action.
Proponents are encouraged to visit: www.treasurycomplexhobart.com.au External Link for further information and share their ideas or proposals for future uses that align with the Tasmanian Government vision.
