Techne Invest celebrates approval of 12-storey Hobart office tower, hopes to begin construction ‘early 2025’
The developer behind a 12-storey office building approved by the Hobart City Council has revealed when construction is expected to begin on the $40m project.
Tasmania
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Construction of a 12-storey office tower in the CBD is expected to begin as early as February next year after the Hobart City Council unanimously approved the $40m development.
The office building will reach a maximum height of 51 metres and occupy a footprint of about 2000 sq/m, while providing for approximately 15,000 sq/m of office space.
Former AFL star Nick Riewoldt is one of three directors of Techne Invest, the joint venture between Techne Group and Invest Lease that is developing the project.
It will be located at the site of the former Spotlight store on the corner of Liverpool and Harrington streets, and will require the demolition of existing commercial buildings at 174-192 Liverpool St and the construction of a building consisting of a four-storey podium and an office tower.
There will also be space for a possible retail tenancy and a small cafe, as well as a basement level car park to accommodate 28 vehicles, as well as end-of-trip facilities for workers, including change rooms and bicycle parking.
Techne Invest director Matt O’Halloran said the company was “thrilled” with the council’s approval of the project and hoped to commence construction about February 2025.
“I think the planning outcome actually provides a great deal of certainty for the leasing market,” he said.
“Hobart’s going to be in need of a tremendous amount of … prime-grade or brand new [office] space over the next 10-15 years. Some are estimating over 300,000 sq/m of space that will be required.”
The city’s commercial office vacancy rate is the lowest in the country at 2.8 per cent.
Mr O’Halloran said the development would also involve a pocket park and the construction of new pedestrian infrastructure.
“What we intend to do through the design is effectively reveal the presence of the [Hobart] Rivulet by enabling a walkway that will connect Harrington St through to Victoria Walk,” he said.
The external materials used to build the podium will include tinted concrete and red brick, while brushed metal will be used for the tower, with the design being likened to the famous Flatiron Building in New York.
Acting Lord Mayor Zelinda Sherlock said the development was “really wonderful” and council’s support for it showed “the city is not anti-development”.
“There’s … confidence from developers to invest in the city,” she said.
Cr Sherlock said the building would “contribute to the vibrancy and economic growth” of Hobart.
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