Hobart’s Battery Point is Best Enjoyed on Foot
Aerial View of downtown Hobart, Tasmania
POSNOV / GETTY IMAGES
The neighborhood in Australia’s island state of Tasmania boasts historic architecture and upscale shopping
BY MICHELLE SINGER | ORIGINALLY PUBLISHED ON MAY 25, 2019 | MANSION GLOBAL
On the fringes of Hobart's center, lined to the north by the historic Salamanca Place, Battery Point is the city’s oldest and arguably one of its prettiest suburbs; a palpable sense of colonial history assuaged by cute cottages and chic cafés.
Battery Point’s photogenic and sometimes awkwardly narrow streetscape is lined with weatherboard houses and sandstone cottages, beautified by house-proud owners, which regularly causes passing pedestrians to linger and capture that Insta-worthy photo.
Dating back to the first European settlement of Hobart, Battery Point holds a special place in the heart of locals and visitors alike. Its history is on display, with the British influence seen in the street names honoring several famous English heroes, including Wellington, Trafalgar, Nelson, or famous events in military history—such as Napoleon Street and Salamanca Place.
Its streets and village atmosphere is best enjoyed on foot, taking in the historic architecture along with boutique retailers, high-end hotels and artisanal cafes and restaurants that provide much of the area’s fashionable credentials.
Set on a promontory extending out into the River Derwent from Hobart's Constitution Dock, Battery Point was named after the battery of guns that were established in the area as part of Hobart’s coastal defenses in 1818.
The battery was built on the site of where Princes Park is set, on the northeast boundary of the suburb. The guns fired salutes for ceremonial occasions but were never required for an invasion. The battery was decommissioned in the late 1800s after a review of the site found its prominent location would draw enemy fire toward the surrounding residential neighborhood.
It has grown to become the city's premier address with historic buildings that date back to the first European settlement of “Hobart Town,” corner pubs and quiet winding streets.
Boundaries
Battery Point is a 15-minute walk from Hobart's center and is immediately south of the city. Access to the area can be made on foot from Salamanca Place up Montpelier Retreat, or Kelly's Steps, a sign-posted and historic point of access from behind the waterfront sandstone façade.
By car Battery Point is accessible via Hampden Road, the suburb’s main artery that runs off Sandy Bay Road from the edge of the city.
Bounded by Hobart’s renowned Saturday-held Salamanca Markets and the city’s historic heartland of Salamanca Place to the north, more than a quarter of Battery Point’s boundary, predominantly to the east, is waterfront.
The north-east facing Castray Esplanade, Clarke Avenue and Napoleon Street all enjoy waterfront aspects with the CSIRO, parks and prestige housing occupying sites immediately fronting the River Derwent.
Part of Quayle Street, Bath and St Georges Terrace separate Battery Point’s southern boundary with that of the neighboring suburb of Sandy Bay. The suburb’s western border takes in Albuera Street, Ellerslie Road and Gladstone Street, hugging the historic area of Hobart’s central business district.
Price Range
Tightly held houses and few new developments has cemented Battery Point’s position as one of Hobart’s most expensive residential suburbs.
In the 12 months to February, the median house price for Battery Point was A$1,003,000 (US$694,603) having increased in value 18.59% on the previous year, based on analysis provided by CoreLogic RPData.
During a time when the rest of Australia’s residential real estate markets softened, Sydney and Melbourne house values fell 10.9% and 9.8% respectively in the 12 months to the end of March—making Battery Point’s double-digit performance even more impressive.
However the property party is over, according to the area’s leading agent, Steve Yannarakis from St. Andrews Estate Agents.
In May he’s sold half a dozen houses and apartments in Battery Point, some on market, others found buyers without the need for elaborate marketing campaigns.
Interest is still strong, prices are holding up, however the number of enquiries being made are roughly half of what he was receiving 12 months ago, Mr. Yannarakis estimated.
“The party is over in terms of the growth, it’s stabilized and we’re going into a more steady, more traditional market,” he says, following Tasmania’s recent three years of accelerated, and unsustainable, rate of growth.
“The number of listings compared to a year ago has probably doubled. Having said that, there are a few properties that have been for sale for quite a bit of time, and that would be due to pricing or property issues.”
To get into Battery Point, buyers will need a minimum of A$700,000, Salamanca Realty principal Mark Lawler said, and that’s for a one-bedroom cottage or apartment.
It’s an attractive price point and option for investors, who continue to eye Battery Point with keen interest.
Three-bedroom houses and two-bedroom apartments with parking, cost anywhere between A$1 million and A$2 million, often more, depending on location, outlook and condition, Mr. Lawler said, having sold a premium two-bedroom apartment in the Silos building for more than A$2 million in early 2019.
History, proximity to amenities and access to the city and neighboring prestige suburb Sandy Bay—including the Royal Yacht Club of Tasmania—underpins Battery Point’s appeal and prices.
The suburb’s long-held A$3 million record—set in 2004—was finally broken in March this year with the A$4.7 million sale of a renovated waterfront property on Napoleon Street, through selling agent Mr. Yannarakis.
Buyer interest in the property was “overwhelming” Mr.Yannarakis said, especially as it came with a highly sought-after private jetty, boat shed and slip.
“There is still a value proposition in Tasmania relative to the mainland capitals,” he said.
“There are only 29 properties on Clark Avenue and Napoleon Street,” Mr. Yannarakis added. “They’re a finite resource and the most premium real estate you can buy in Tasmania. A property of this caliber in Sydney would cost 10 times as much.”
Battery Point Historic District, Hobart, Tasmania Island, Australia
Richard Cummins / Getty Images
Housing Stock
Battery Point has an attractive and eclectic mix of weatherboard and brick-row houses and a smattering of apartment towers.
There are commercial premises, such as the historic five-star Lenna Hotel, boutique retailers, cafes and restaurants along the village-like main thoroughfare Hampden Road. Australian marine and environmental scientists conduct research from the Commonwealth Scientific and Industrial Research Organisation (CSIRO) Marine and Atmospheric Research centre, which features a deep-water port for access to the Southern Ocean, from the waterfront at Castray Esplanade.
Its most prestigious holdings are the large and extravagant homes tightly held on the waterfront of Clarke Avenue and Napoleon Street. There are only 29 waterfront blocks in total, and of those only a handful have private moorings, a jetty or boat shed, onto the River Derwent. Residents here experience some of the best views in the state with uninterrupted vistas northeast up the river, direct water access and year-round sun exposure.
Luxury Amenities
There’s nothing a Battery Point resident wants for in terms of lifestyle.
A 10-minute walk into the central business district for those who are still working negates parking woes and traffic battles. Hampden Road serves not only as Battery Point's main artery but also as one of Hobart's finest café strips with historic luminaries Jackson & McRoss and restaurants such as the 25-year-old D’Angelos, a drawcard for locals and tourists alike.
But if waiting for a table isn’t your thing, it’s only a five-minute walk to Salamanca Place for access to myriad food and beverage options that satisfies cravings and thirsts regardless of time or day.
Artisanal produce, locally-distilled award-winning whisky, gin and wine are accessible within a few minutes’ walk and early risers can nip to the weekly Salamanca Markets for bread, flowers and seasonal veggies before visitors have time to ask “where do I park?” Hipster hangouts over beers and burgers happen in the atmospheric garden, or the old bus, at Preachers.
For those not wanting to leave the confines of their cozy suburban streets, there are dog-friendly parks, quiet historic corners, the striking St. George’s Anglican Church plus the annual Taste of Tasmania food festival and the finish line of the Sydney to Hobart yacht race at their front door.
Battery Point’s central location places it in the midst of Hobart’s best schools and educational facilities, all found within a five-kilometer radius. Among them are several primary schools for kindergarten-to-year-six students such as Albuera Street Primary School and Princes Street Primary School. Some of the state’s most highly regarded independent schools are in nearby Sandy Bay or Hobart, offering facilities for day students and borders alike, including Hutchins School for boys, Fahan School, St. Michael’s Collegiate and St. Mary’s College for girls and the co-ed Friends’ School. Senior secondary colleges for students in year 11 and 12 include Mount Carmel College and Hobart College, atop Mount Nelson. The University of Tasmania Sandy Bay campus is a 15-minute walk away.
Who Lives There
The last three Battery Point properties Hobart prestige agent Mr. Yannarakis sold, or showed potential purchasers through, attracted people in their 60s.
Some were from interstate looking to retire to Tasmania, others locally based buyers, but all were of retirement age, looking for the ultimate lifestyle opportunity.
“Most of the properties are going to baby boomers. We don’t sell to 20 or 30 year olds because they can’t afford it anymore,” he said.
“People are in their 60s. That’s the reality of it. They want to be close to everything, they appreciate the history of the suburb, the beautiful streetscape and the proximity to all the amenities.”
There’s just shy of 2,100 residents living in Battery Point, according to Australian Bureau of Statistics figures derived from the 2016 Census. The median weekly household income of A$1,376 is higher than the statewide median of A$1,100, and more than a quarter of residents are aged 55 or older.
It’s a trend Mr. Lawler is seeing, too, in the various prestigious apartment complexes in the suburb including Salamanca Square, Salamanca Mews and the Silos building that fronts the Hobart waterfront.
“These are all quite popular with retirees and people who are downsizing,” he said.
“The majority of these people are downsizing from substantial properties, some have come from the Australian mainland, and this area and buildings are highly sought after,” he said.
Notable Residents
Hollywood film actor Errol Flynn was born in Battery Point at the Queen Alexandra Hospital in 1909. Educated at several Hobart schools, Flynn left the island state for Sydney, aged 18, in 1927.
Today the suburb is occupied by business and art luminaries who prefer to keep a low profile and fly under the radar such as Melbourne-based developer theatre owner David Marriner, who keeps a waterfront home in the suburb, visiting from the mainland regularly.
Agents are tight-lipped on the suburb’s other high-profile residents, but have confirmed art collector, philanthropist and Museum of Old and New founder David Walsh and his wife, American artist and curator, Kirsha Kaechele, live in a luxurious Ellerslie Road townhouse.
Outlook
Hobart’s residential real estate market has been through three years of strong growth, Battery Point among its most sought-after and prestigious suburbs.
The area’s annualized 10.77% growth each year for the past three years, based on CoreLogic RPData figures, illustrates a sustained level of demand from locals, interstate migrants from mainland Australia and investors.
While there are indications that the intensity may have come off the market, with first quarter falls in values of about 5%, agents report continued interest and strong sales results for their sellers.
“Interest is always strong in Battery Point. It’s seen as one of the premium suburbs of Hobart, certainly one that everyone in Tasmania and Australia knows about,” Salamanca Realty’s Mr. Lawler said.
“Properties from apartments through to stand-alone houses are holding up very well,” he said. “They’re just taking a little longer to sell, which is consistent with the rest of the market.”