116B Forest Road, West Hobart TAS 7000

Panoramic views | Approved DA for two homes | Tightly held West Hobart | 2,441sqm scale near CBD This land parcel’s competitive strength lies in its rare combination of size, approved development pathway, and sweeping views within a tightly held suburb minutes from the Hobart CBD. The existing DA for two three-bedroom homes reduces approval uncertainty and shortens the buyer’s timeline to construction, making it suited to a developer seeking a straightforward project or an owner-occupier wanting dual dwellings for multigenerational living or rental income. The elevated position and tree-lined street add a scarcity premium that smaller blocks in the area cannot replicate. The key risk is the price guide’s upper range may already reflect the approved DA’s value, leaving limited margin if construction costs rise or final design changes require fresh council approval-each alteration carries time and expense. The adjacent 773sqm lot at 116 Forest Road is a separate title, so site assembly for a larger scheme is not implied. A buyer should verify the DA’s expiry date and any conditions tied to the two dwellings’ layout. Hold this property as a build-to-sell or hold-to-rent play, with the view and location underpinning long-term capital resilience.