This article is from the Australian Property Journal archive
TIPALEA Partners has spent $5 million a 3.5-hectare site in Kingston earmarked for the developer’s third Tasmanian development since 2019.
Located opposite a Bunnings at 202 Channell Highway, the site will be transformed into a $40 million state-of-the-art neighbourhood retail centre to be known as Huntingfield Village.
Purchasing the site from a Queensland investor, Tipalea Partners will deliver critical new infrastructure and local employment to the expanding Kingborough region, which is estimated to grow by more than 7,000 residents across the next two decades.
“Tipalea has been investing and creating jobs in Tasmania for over 15 years,” said Scott Spanton, CEO at Tipalea Partners.
“Huntingfield Village will expand our current Tasmanian portfolio to three retail centres, continuing our strong track record of delivering value and convenience to Tasmanians.”
Huntingfield Village will span 6,300sqm and follows the developers two previous retail centre projects in Tasmania, the successfully completed Glebe Hill Village in Howrah and the underway Stony Rise Village project in Devonport.
“Modern, convenient retail is essential infrastructure for growing regions and Huntingfield Village will provide local residents with choice, convenience, and significant amenity for years to come, in addition to boosting local employment,” added Spanton.
The centre is forecast to create employment opportunities for more than 1,200 people, for a total of 3,500 jobs created by Tipalea in the state across the last four years.
The retail centre will feature an expansive 4,200sqm Coles or Woolworths supermarket with a significant drive-through and click-and-collect offering, as one of the largest supermarket offerings in the region.
There will also be 15 further retail facilities including medical and dental services, a café, bakery and takeaway food options, in addition to 300 car bays and easy pedestrian access.
Huntingfield Village will also feature a full solar array, rain water harvesting and charging stations for electric vehicles.
In addition to cloud-based CCTV, a dedicated smart building app, duress intercoms, car counters and licence plate recognition software.
With inclusive amenities such as generous bathrooms and a gender-neutral parents’ room, free wi-fi, a weather station and wireless charging stations.
George Burbury and Claude Alcorso from Knight Frank Tasmania brokered the deal for the site.
“We have continued to see strong investment across the retail sector, driven by low vacancy rates amid fast-growing residential locations,” said Burbury and Alcorso.
The broader Kingborough catchment is home to just under 60,000 residents, having grown by 6,200 people in the last five years, according to Tipalea’s research.
Tipalea plans to secure the necessary council approvals within 2023, with construction to commence early 2024 and completion due for early 2025.
