Adelaide property developer Roostam Sadri has paid $3.5 million for a major educational facility near Hobart.
Sadri paid the $3.5 million for the new Australia Tasmania College of Technology at New Norfolk about 30minutes west of Hobart.
Sadri bought the high rise building from Tasmanian investor Harold Adam.
The College is located in the centre of the former Willow Court psychiatric centre. The deal included a further 11 buildings and a substantial amount of vacant land.
According to Sadri, he intends to further develop the centre into a major professional training centre aimed at overseas students.
Back in March, the Tasmanian Qualifications Authority reported that the College had compliance problems.
By Nelson Yap
