Target building in Launceston’s city centre on Charles Street up for sale

The 5000 square metre Target building, on Charles Street in central Launceston, is up for sale.

Target recently renewed the lease on the property until July 2024.

Knight Frank real estate agent Rob Dixon said Target had leased the building since more than 20 years and were not about to leave.

Mr Dixon said since listing, the property had already received strong interest from local, national and international investors.

Those investors, he said, were joining an increasing boom in regional retail property investment.

“The Hobart market is pretty heated, these investors are now looking at regional cities,” he said.

“Certainly what we see is where there’s strong government investment, that generally attracts the private investment dollar.”

Looking further across Launceston, Mr Dixon said the city was seeing strong retail property interest alongside the tightening residential real estate market.

Expressions of interest on the property close on May 15.