Tipalea reveals plans for new innovative retail centre in Devonport

Tipalea Partners has acquired a significant development site from Bunnings in Stony Rise and has announced plans to develop a new $40 million neighbourhood retail centre – Stony Rise Village – by 2024. With the strong growth of Devonport, another full-line supermarket is desperately needed in the area and the centre will focus on retail uses that serve the daily needs of the growing residential population.

Tipalea’s demographic research reveals an immediate catchment of 18,000 people for Stony Rise Village, that currently have no full-line supermarket. The greater Devonport area of 40,000 should be serviced by at least four full-line supermarkets, but currently only has two options, both of which are in the CBD.

“High-quality, convenient retail is long overdue and desperately needed in Devonport and we are excited to deliver this to the community. Not only will it generate significant employment and provide greater access to quality retail, but Stony Rise Village will also have a range of innovative high-tech and environmental features,” said Scott Spanton, CEO of Tipalea Partners.

Stony Rise Village, which will be prominently located adjacent to the Devonport Homemaker Centre, will deliver convenient everyday shopping facilities to the local communities in Stony Rise, Miandetta and further south. The centre will include a full-line supermarket of Coles or Woolworths, supported by convenience retail and a range of food outlets.

The planned retail offer at Stony Rise Village is complimentary to that of Devonport CBD. With an aim to provide residents with choice, convenience and significant amenity, the retail options would not undermine the viability or vitality of existing CBD retail precincts and would take pressure off the existing Coles and Woolworths centres, which are currently over-trading.

Stony Rise Village is set to create around 200 jobs during construction and over 500 ongoing jobs once it opens. Tipalea anticipates that construction will begin in 2023 after the necessary approvals are secured, and expects that Stony Rise Village will be ready to open in 2024.

“The surrounding community is on such a high-growth trajectory and retail like this is essential infrastructure that supports and enables this growth. This is about securing the continued growth of Devonport by providing the local communities with convenience, choice and competition,” said Scott Spanton.

Tipalea Partners has been investing and creating jobs in Tasmania for over 15 years and Stony Rise Village will be the fourth Tasmanian project undertaken by the group.

For more information and updates on Stony Rise Village, visit the centre’s website, or follow on Facebook or Instagram.

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