Sale
Tasmania’s most technologically advanced and sustainable retail centre, Glebe Hill Village, has been sold by Tipalea Partners to a Charter Hall managed fund for $50.25m following a sales campaign managed by JLL.
The centre which opened in 2022 is located in Howrah, 8 kilometres east of the Hobart CBD. Glebe Hill Village comprises a 6,000 sqm neighbourhood shopping centre anchored by a high performing, latest-generation Coles supermarket, a full line Priceline, 24-hour drive-thru McDonald’s, Tasmania’s first-ever Liquorland and a further 16 specialty stores with 260 car bays.
Origins
Working with our demographers at Location iQ, Tipalea’s research identified Howrah as a significant network gap for Coles. This research has been vindicated yet again by the strong trading performance of Glebe Hill Village has been directly responsible for our Centres in Hobart, Devonport, Marian, Pimpama and Cobram.
Leading Tasmanian contractor Fairbrother undertook the construction of Glebe Hill Village which began in May 2021 and was completed on budget and two weeks ahead of schedule – which is quite the achievement considering the lockdowns and Covid delays that were so prevalent during this period.
The Centre
The 6,000 shopping centre delivers a new standard in convenience retail and comprises:
- Latest generation Coles supermarket;
- 16 specialty shops in an air-conditioned mall;
- 260 car spaces in an expansive, completely on-grade car park;
- 24/7 drive-through McDonald’s;
- a diverse tenancy mix targeted at meeting the everyday needs of the local community, including a Priceline pharmacy, Liquorland, medical centre, dentist, bakery, nail salon, massage, barber, post office / newsagent, florist and phone repair kiosk along with a range of restaurants and takeaway options of LivEat café, Subway, Hokkaido Sushi, Pizzarazzi and Saigon Express;
- K9000 dog wash and 2 x ATMs within the centre
Technology
Glebe Hill is the most technologically advanced neighbourhood centre in Tasmania with a full solar array, EV charging stations, smart bathrooms, air quality monitors, weather station, free wi-fi and wireless charging stations, Tasmania’s first dedicated smart app, cloud based CCTV throughout, car counters, people counters, duress intercoms and a building information dashboard.
The Glebe Hill village app is now live on the App Store and Google Play where you can download it – just search Glebe Hill Village in the App Store or scan the QR code below. The app provides real time environmental data on the centre, details of our tenants and special offers as well as the ability to order food and book appointments.
Customer Experience
Enhancing the customer experience has been front of mind with everything we have sought to create at Glebe Hill Village – with many of these items coming from the research / feedback and suggestions from our 6,000 strong community on Facebook.
- Contactless taps / toilets and hand dryers
- Expansive parents room
- Kids play area
- EV charging stations
- Dedicated taxi & Uber bay
- Dedicated bay for food delivery drivers with seating and phone charging
- Prioritised seniors parking, parents parking and disabled parking
- Shade sails throughout the car park
- Free wi-fi
- Wireless charging stations throughout the centre
- Dedicated smart building app to order food and make appointments
- Pet parking areas
- Tiles though all pedestrian areas of the mall and external footpath
- Kerbless carpark allowing easy trolley access
- Generous pedestrian walkways throughout the car park
- Separation of the Click n Collect & loading dock areas from the main car park
Employment
“It has taken the specialised input of over 1,100 people and an investment of $40m to create a project like Glebe Hill Village”, Scott Spanton CEO Tipalea Partners.
We are very proud of the amount of employment opportunities Glebe Hill Village has generated, particularly during the dark days of Covid lockdowns during 2021.
The centre has created employment for over 1,100 people so far, including tradespeople, architects, engineers, tenant reps, leasing agents, lawyers, marketing staff, artists and many more. The centre is still hiring for many positions and is looking for more qualified individuals.
Public Art
Public art is a key component of all Tipalea projects and what four artists have created to elevate Glebe Hill Village is simply incredible.
Working with public art curators Cultural Capital, we commissioned four Australian artists: Allan Mansell, Tricky Walsh, Lara Merrett and Tom O’Hern who were able to use the car park shade sails as a blank canvas to transform an otherwise routine arrival and departure of the retail centre into a lively and welcoming experience, presenting a unique way to celebrate local creative talent within the area, displaying colourful stories of place and ecology.
The fished artwork is so dramatic , it really creates a sense of arrival and their scale is just so imposing. As a powerful landmark, we suspect they will even become a form of wayfinding and preferred parking positions.
We understand the sails are the largest printed sails produced in the southern hemisphere and were supplied by local Tasmanian specialists, Kings Outdoor Living.
For more information visit:
Project Statistics
| Address: | 1 Commerce Drive, Howrah TAS 7018 |
| Net Lettable Area: | 6,000 sqm |
| Anchor Tenant: | Coles |
| Sale Price: | $50,250,000 |
| Yield: | 5.75% |
| Investor IRR: | 19% p.a |
| Equity Multiple: | 1.9x |
| Site Purchased: | March 2016 |
| Centre Opened: | August 2022 |
| Sale Date: | December 2024 |
| Builder: | Fairbrother |
| Architect | BDA Architecture |
| Bank: | CBA |