The Charles

After two years of protracted and complex negotiations with the Tasmanian Government, the JAC Group acquired the derelict vacant Old Launceston General Hospital on the 1st September 2008. The abandoned building had fallen into a state of total disrepair with asbestos issues and almost every window broken, but it did have 13,000 m2 of floor area over six levels of column and slab which would have cost more than thirteen million dollars to build new at that time. Fortunately, Josef was able to purchase the Old Launceston General Hospital to realise his vision to turn what was Launceston’s biggest eyesore into the city’s most majestic mixed-use development with a ninety-nine-room hotel, fourteen luxury apartments including two penthouses, medical suites, and commercial and retail tenancies.

It would not have been economically viable to proceed with such a grand development without the State Government recognising the economic challenges and valuing the site accordingly. The Charles was developed over two years, employing two hundred construction workers throughout the Global Financial Crisis. This put great stress on the business but thanks to Tasmanian Perpetual Trustees the project found financial support half way through construction, when national lenders baulked, and the hotel opened ahead of schedule in July 2010. The Charles won the award for Best Mixed-Use Development in Australia at the Property Council of Australia Innovation & Excellence Awards in 2012. Josef still lives in one of the penthouses with magnificent views of Launceston.