Mac Point and Tassie Devils team catalyst for new $138m investment

Major developers inspired by the proposed Macquarie Point stadium and state’s footy future are planning $138m in development in key centres around Tasmania. Inside their plans.

The $35m Strait Hotel development proposed for Burnie has been announced by the JMC Group. Picture: Supplied

One of Tasmania’s most successful developers plans to invest up to $138m over the next few years across the state, galvanised by optimism about the development of the Macquarie Point Stadium and the Tassie Devils.

Stewart Group Tasmania and JMC Property Group managing director Errol Stewart’s plans stretch from a $35m hotel in Burnie to residential developments in Launceston and a $20m residential development in Hobart known as City Scape Towers.

The announcement of the proposed developments comes despite uncertainty as a result of the Tasmanian election.

A $20m residential development in Campbell Street Hobart City Scape Towers has been proposed by JMC Group. Picture: Supplied

“Should the proposed stadium and AFL team not proceed we will reassess and reduce the scale of all developments except those planned for Hobart,” Mr Stewart said.

“Alternatively if the stadium project is approved, it will catalyse broader investment, enabling larger-scale development across multiple regions.”

Mr Stewart said a stable and functional government was essential for long term investment and development confidence.

“While either a Liberal or Labor-led administration would provide the necessary stability, we hold a preference for the Liberal Party given Premier Jeremy Rockliff’s consistent and pragmatic leadership,” he said.

“However, the growing influence of unqualified independents and minor parties present a concern for governance continuity.

“At the same time strong and experienced independents such as David O’ Byrne, Peter George and Kristie Johnston – play a vital role in maintaining parliamentary balance and deserve continued representation.”

A $15m refurbishment of Mary's Grange in Taroona involving 15 apartments has been proposed by the JMC Group. Picture: Supplied

He did not mention the Tasmanian Greens or potential Braddon independent Craig Garland.

Mr Stewart, who runs the Jackson Motor Group, has been a developer since late last century when he developed the Seaport Hotel in Launceston for $10m. Later he developed the Silos Hotel on the banks of the Tamar River for $32m.

He conceded that planning approvals from local councils or the Planning Commission could slow development by years.

Public objections and planning approval costs added to the financial burden.

The proposed developments comes after purchase of a number of key sites in major centres across the State.

Mr Stewart said a three hectare site on the Camdale Beach foreshore in Burnie was earmarked for a $35m Strait Hotel tourism and residential development featuring a 72-room hotel with ancillary restaurants, cafes and conference facilities alongside 12 high-end residential apartments. The company is seeking community feedback and eventually seek a planning scheme amendment to enable the development to proceed. An artists impression of the development reveals three seven story building adjacent to the foreshore.

A further $3m is planned for new showrooms for the Nissan and Hyundai dealership.

Hobart plans include a $20m, two five level apartment buildings in Campbell Street which would also require a planning scheme amendment.

The $35m Strait Hotel development proposed for Burnie has been announced by the JMC Group. Picture: Supplied

Fifteen apartments are proposed for the Mary’s Grange site in Taroona at an estimated cost of $15m.

Also subject to approval is a $6m TasTafe automotive service and training centre at Cambridge.

In the state’s North a $25m tourism convention centre is proposed in the Launceston suburb of Invermay if government funding can be attracted. A $10m residential development in Rose Lane would provide 23 homes at prices from $660,000.

A separate $10m residential development in Invermay would seek to offer eight to 10 high end apartments.

Mr Stewart said land availability was a problem for developers because of an excessive number of ‘restrictive planning overlays’.

“Identifying suitable sites for development is increasingly difficult particularly for high rise construction which is virtually unfeasible under current regulations,” he said.

‘The widespread presente of overlays, especially heritage related, can significantly diminish property value and limit development potential.”

Originally published as Mac Point and Tassie Devils team catalyst for new $138m investment