A property in the heart of Hobart’s preferred industrial precinct - in the city’s inner northern suburbs of Moonah and Derwent Park - has hit the market.

The A-Grade industrial and office investment property at 8 Birdwood Avenue in Moonah consists of a warehouse and two-storey standalone office building with 4,600sq m of gross floor area on a 10,092sq m site.

The office is fully let to Spectran Group on a 5+5+5 year term, while the newly built warehouse is occupied by Oak Industries on a 10+5+5 year term.

The total net income on the asset is approximately $683,025, with the tenants paying all statutory outgoings and building insurance. The WALE Is 8.2 years by income.

The property is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Matthew Wallace and Tom Balcombe.

Mr Balcombe said the property offered a great long-term industrial investment for a buyer, given the strong covenant, long lease terms and options.

“The industrial market in Tasmania continues to experience strong demand for quality investments,” he said.

“This property is a solid investment with long-term occupiers, providing buyers with secure income for the foreseeable future.

“It also offers significant depreciation benefits.”

Mr Wallace said the Moonah property was located in the heart of Hobart’s preferred industrial precinct, in the inner northern suburbs of Moonah and neighbouring Derwent Park.

“It is situated in between Harvey Norman, TasWater, St Johns Ambulance and Clennett's Mitre 10, with easy access to Main Road and the Brooker Highway,” he said.

“Moonah and Derwent Park is the traditional industrial hub of Hobart, and continues to be strongly sought after.

“With little to no land availability in this area and property tightly held, industrial occupiers and investors have been forced to look elsewhere, but with ongoing strong demand in the location we expect the property to be keenly sought after by buyers.” 

The Expressions of Interest campaign for the property closes at 4pm AEDT on October 12.