UTAS property portfolio
Devine Property has been appointed to assist the University to transition their non-core properties and tenancies to be more commercial, to improve the overall performance of those assets. With the aim of creating ongoing value for the University’s various property holdings, we are working to improve the commercial returns by ensuring compliance and optimisation of said assets to guarantee the best possible return.
The University’s prominent locations of the former Forestry Tasmania building, the former Freedom Furniture site and the former Fountainside Hotel, each provide their own set of unique challenges. By continuing to provide value for these properties, until the move of the University of Tasmania into the proposed inner-city campus, we have endeavoured to maintain the performance of these assets to uphold the usefulness of these properties in the short term.
The proposed redevelopment of the University’s current Sandy Bay campus has drawn attention recently, as the proposed plan aims to create 2500 new dwellings in the heart of one of the state’s most expensive suburbs. Doing so in the face of the Tasmania’s ongoing housing crisis, the proposal aims to create attainable housing for downsizers or first home buyers.