Macquarie Place Luxury Apartment Development
Sector: Road • Location: Hobart, Tasmania, Australia
Source: Real Estate
An $80 million luxury apartment development in Hobart planned to transform the former Motors Holden dealership into 56 apartments with ground-level commercial spaces. Despite strong sales and approvals, the project was cancelled due to unexpected construction cost blowouts, with some materials costing up to 500% more than expected, leading to a $13 million cost overrun.
- Status
- Closed
- Sector
- Road, Residential, Commercial
- Location
- Hobart, Tasmania, Australia
- Updated
- 22 Jul 2026
- Source
- Real Estate
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Project Information
Participants
| Not available for this record. |
Status
Original status | cancelled |
Taiyo status | Closed |
Taiyo last update | 2026-07-22 |
Contact
| Not available for this record. |
Description
Description | An $80 million luxury apartment development in Hobart planned to transform the former Motors Holden dealership into 56 apartments with ground-level commercial spaces. Despite strong sales and approvals, the project was cancelled due to unexpected construction cost blowouts, with some materials costing up to 500% more than expected, leading to a $13 million cost overrun. |
Original sector | Built Sector |
Budget |
Location
Country | Australia |
State | Tasmania |
City | Hobart |
Source
Source | Real Estate |
URL |
More Details
Record type | Project |
Sector | Road, Residential, Commercial |
Article published date | 2025-09-16 |
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