Developer Tipalea Partners has acquired a 3.5-hectare site in Kingston for $5 million from a Queensland investor, representing its third Tasmanian development since 2019.
Prominently located opposite Bunnings at 202 Channel Highway, the site is set to become a $40 million state-of-the-art neighbourhood retail centre to be known as Huntingfield Village.
It will deliver critical new infrastructure and local employment to the growing Kingborough region which is earmarked to see an influx of more than 7,000 residents in the next 20 years.
The 6,300 square metre Huntingfield Village will be the third retail centre to be developed recently in Tasmania by Tipalea, following its successful Glebe Hill Village in Howrah, Hobart and current Stony Rise Village project in Devonport.
Tipalea Chief Executive Scott Spanton said the company had been investing and creating jobs in Tasmania for more than 15 years.
Spanton said: “Huntingfield Village will expand our current Tasmanian portfolio to three retail centres, continuing our strong track record of delivering value and convenience to Tasmanians.
“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.”
Huntingfield Village is expected to create employment opportunities for over 1,200 people, bringing the total number of job opportunities created by Tipalea in Tasmania to 3,500 over the last four years.
The state-of-the-art retail centre will feature an expansive, latest generation Coles or Woolworths supermarket with a significant drive-through and click-and-collect offering.
At 4,200 square metres, the proposed supermarket will be one of the largest in the region and will accompany 15 other retail facilities – including medical and dental services, a café, bakery, and takeaway food options.
Visitors will be greeted by engaging public art alongside over 300 convenient car bays with safe and easy access for pedestrians.
Renewable energy and green technology will be at the forefront of the new retail centre, with Huntingfield Village featuring a full solar array, rain water harvesting and charging stations for electric vehicles.
It will combine cutting-edge technology and security features, including cloud-based CCTV, a dedicated smart building app, duress intercoms, car counters and licence plate recognition software.
High-quality, inclusive amenities will be standard throughout the new development, such as generous bathrooms and a welcoming, gender-neutral parents’ room.
Free wi-fi, a weather station and wireless charging stations only add to the centre’s outstanding amenity.
The deal was brokered by George Burbury and Claude Alcorso of Knight Frank Tasmania, who said investor confidence in the State remains elevated post-COVID.
He said: “We have continued to see strong investment across the retail sector, driven by low vacancy rates amid fast-growing residential locations.”
Research by Tipalea’s team has estimated that the broader Kingborough catchment is home to just under 60,000 residents, having grown by 6,200 people in the last five years alone.
This figure is expected to increase by a further 7,300 over the next twenty years. With one full-line supermarket generally required for every 8,000 – 10,000 residents, the catchment has room for up to six full-line supermarkets.
However there are only three others within the catchment – pointing to strong demand from the community.
Tipalea anticipates that following the necessary Council approvals being hopefully secured in 2023, construction will commence early next year, with completion due in early 2025.
