Following its recent re-election, the Tasmanian Government has reaffirmed its commitment to repurposing the iconic Treasury Building Complex in Hobart, signalling a bold step forward in adaptive heritage development and economic revitalisation.
Originally announced in November 2024, the Registration of Interest (ROI) process closed earlier this year, with the Expressions of Interest (EOI) process opening in October and closing in December 2025.
The re-elected Government has doubled down on its vision to transform the historic site into a vibrant civic and economic asset for Tasmania.
Located between Hobart’s waterfront and CBD, the Treasury Complex is a landmark of architectural and institutional significance. Spanning approximately 8,220 sqm across a 5,691 sqm site, the interconnected buildings boast triple street frontage to Davey, Murray and Macquarie Streets.
For over two centuries, the Complex has served as the administrative, political and judicial heart of Tasmania. Now, it stands at the threshold of a new chapter—one that honours its legacy while unlocking new opportunities for community, culture and commerce.
“The Government’s renewed mandate sends a strong signal to the market,” said David McDougall, Partner, Strategic Consulting at Cushman & Wakefield. “This isn’t just about preserving heritage, it’s about reimagining it to deliver long-term economic and social value. The Treasury Complex has the potential to become a benchmark for civic renewal in Australia.”
The EOI process invites proposals from developers, investors, end-users and interest groups, seeking ideas that balance reverence for the past with readiness for innovation. The Government’s vision remains clear: to deliver a sustainable, inclusive outcome that benefits all Tasmanians.
Tim Olifiers, Associate Director, Strategic Consulting – ANZ at Cushman & Wakefield, added,
“Globally, we’re seeing governments repurpose civic assets to drive economic growth and community engagement. The Treasury Complex could be a catalyst for that kind of transformation in Tasmania.”
The re-elected Government has reinforced the commitment to ensuring the site’s future use delivers broad economic benefit, whether through education, innovation, hospitality, or cultural activation. The next phase will focus on evaluating proposals that align with this vision and unlock the full potential of the precinct.
Proponents are encouraged to visit: www.treasurycomplexhobart.com.au for updates and further information.
