The Woolworths-anchored complex on the West Tamar Highway sold for $14 million after attracting 90 enquiries in about four months.

The sale price secured a healthy return for ASX-listed Region Group, who bought the centre for $7.2 million in late 2013.

The centre includes seven leased retail shops and the Woolworths supermarket, which has a lease to 2031 with options through to 2051.

Knight Frank director Nicholas Bond said the sale process highlighted the confidence investors had in the Northern Tasmanian market.

"Apart from Riverside's attractiveness to investors as a popular 'daily needs' centre ... the centre has the advantage of limited direct supermarket competition in its main catchment," he said.

"[It] provides a compact and popular centre with a manageable number of speciality tenants."

The sale is the first time a Woolworths building has sold in Launceston since the Wellington Street store fetched $22.5 million in 2016.

The Wellington Street Coles was listed for sale late last year, but the listing has since been pulled off online portals.