THE Eastern Shore’s retail sector will receive a much-anticipated boost with an exciting new development proposed for Cambridge.
The planned construction of Tasmania’s first dedicated outlet centre – Hobart Capital Outlet + Home – is to commence in early 2012 with a completion date set for late 2013.
The site is positioned adjacent to Hobart International Airport, close to the existing Cambridge Park, and will be complemented by a major homemaker precinct.Stage one of the development will comprise more than 13,600m2 of national and international outlet brands, as well as 13,000m2 of bulky good retail space. Stage two will provide a further 30,8000m2 of retail space, resulting in a total development area of more than 57,000m2.
With close to two million passengers expected to use Hobart International Airport over the next 12 months, in addition to the high number of travellers driving past Hobart Capital, the development is perfectly located and promises to be a major attraction in the local area.
Hobart International Airport interim chief executive officer Rod Parry said the new outlet would deliver real economic benefit to the State.
“This announcement is fabulous for Tasmania and Hobart International Airport is pleased to be working with Devwest and Metier on such a significant project for the Tasmanian economy,” Mr Parry said.
“The development of the outlet will create approximately 300 direct jobs during the construction phase, followed by more than 350 direct retail jobs in stage one and then another 350 direct retail jobs in stage two.
“We firmly believe that the development of Hobart Capital will stimulate trade and commerce in the community,” he said.
With internet shopping increasing in popularity, outlet centres also allow retailers to compete directly with Internet retailers due to the lower set up and operational costs.
Diversified property development and investment company Devwest is the driving force behind the project following negotiations with Hobart International Airport back in August 2010. Derwest is nationally credited for delivering innovative, premium quality retail, residential, commercial and mixed-use developments.
Devwest has appointed Metier as exclusive leasing agents for Hobart Capital. Metier has a history of successfully leasing outlet centres and major shopping centre developments across Australia.
Metier state director Stuart Cameron said Metier strongly believes the Outlet + Home development in Hobart “has all the attributes to succeed”.
“Outlet centres across Australia which are predominately located in out-of-town locations and are easily accessible, have proven to be extremely successful,” Mr Cameron said.
“Examples of such developments can be seen in Perth, Gold Coast, Adelaide, Essendon, Moorabbin and Homebush.
“Retailers do not want their full price stores to compete with their outlet stores, so location is definitely the key.”
The Tasmanian economy has been remarkably resilient throughout the Global Financial Crisis, making it an attractive opportunity for retailers. Tasmania’s economic stability during the global downturn is highly attributable to the high proportion of the population employed in public administration, defence and community services.
“Tasmania is about to experience a large retail boom and Metier is excited to be part of the development team,” Mr Cameron said.
For further information about the proposed development visit www.hobartcapital.com.au
