By Craig Zammit
HOBART: Harvey Norman will team up with Melbourne-based Prudentia Investments in a 50-50 joint venture for a new $70 million homemaker centre to be situated near Hobart in Tasmania, where Harvey Norman will become the key anchor tenant.
The 39,000 square metre centre near Cambridge will be aimed at major brand retailers and will feature 750 parking spaces.
Prudentia Investment managing director, Angus Reed, said the centre would likely contain major brand retailers not yet represented in Tasmania including Clark Rubber, Adairs, Ikea and Snooze.
“Many major retailers found in other parts of Australia are not currently represented in Tasmania or have undersized outlets that do not offer a full range of stock,” Reed told the Australian Financial Review.
“This homemaker centre now provides an opportunity for retailers to expand in Tasmania in a purpose-built retail centre,” he said.
The centre will form part of an industrial, commercial and retail precinct which is due for completion in early 2008.