150-hectare development site in Northern Tasmania hits the market

11 April 2024

A 150-hectare parcel of land ripe for a flagship mixed-use development in one of Greater Launceston’s major growth corridors is up for sale.

The property, Willowbank Estate, is located at the junction of the Bass Highway and Meander Valley Road in Hadspen, in the Meander Valley Council in Northern Tasmania, eight kilometres southwest of Launceston.

The huge site, which is currently occupied by a family home, comprises around 65% of a 232-hectare earmarked growth area for the Hadspen Township, known as the Hadspen Growth Area Plan.

It is being taken to the market via an Expressions of Interest campaign run by Knight Frank agents Cale Ayres, George Burbury and Nicholas Bond on behalf of the vendor MEDTEC (Launceston) Pty Ltd.

Mr. Ayres described the property as Northern Tasmania’s premium development opportunity, having the potential for a 600-lot subdivision and Town Centre.

“The asset provides a unique combination of size, scale and various existing zoning, the likes of which have never been offered to the Northern Tasmanian market,” he said.

“Tasmania’s strong economic performance in recent years, combined with significant infrastructure spend across the state and increasing awareness of ‘brand Tasmania’, is seeing growing interest from national and global investors.”

Mr. Bond said Hadspen was poised for significant development in the coming years, being situated in a well-located growth precinct, just 15 minutes from Launceston.

“The local council has earmarked a substantial 232 hectares of land as the designated growth area for Hadspen, underscoring a commitment to strategic urban expansion,” he said.

“Hadspen presents an attractive investment opportunity driven by shifting demographics with a growing population, enhancing the need for town services and infrastructure upgrades that a development project on Willowbank Estate could deliver.”

The Expressions of Interest campaign for the property will close at 4pm on Thursday, May 23.