Techne Invest office tower development at former site of Spotlight store hits snag
A 12-storey office tower development backed by AFL legend Nick Riewoldt has encountered an obstacle, with construction no longer set to go ahead this month as originally planned.
Tasmania
Don't miss out on the headlines from Tasmania. Followed categories will be added to My News.
Plans to build a 12-storey office tower in the Hobart CBD have hit a snag after a prospective tenant opted against moving into the building in the same month construction was set to begin.
The $40m tower proposal was granted a planning permit by the Hobart City Council last year and the proponent, Techne Invest, which counts former AFL star Nick Riewoldt as one of its directors, had hoped to start construction in February.
The office building will reach a maximum height of 51 metres, providing approximately 15,000 sq/m of office space.
The corporate sector has welcomed the development, given that Hobart’s office vacancy rate remains the lowest in the country at 3.6 per cent, indicating that space is at a premium.
The tower is set to be built at the former site of the Spotlight store on the corner of Liverpool and Harrington streets.
Techne Invest director Scott Vickers-Willis told the Mercury that construction would not be going ahead this month as originally planned after Services Australia opted against committing to a tenancy.
“We’ll basically be looking for a precommitment from another occupier. We’re out … trying to secure another occupier but [the build] is not starting in February,” he said.
Mr Vickers-Willis said Techne Invest was “really hopeful” that the property could still be developed but “it will require a precommitment for a large percentage of the anticipated floors”.
“We need someone to occupy the building. We can’t build it and then try and find somebody,” he said.
A Services Australia spokesman said the federal government agency had commenced an approach to market process in March last year “seeking proposals to consolidate our accommodation footprint”.
“Our needs and requirements have since changed, and earlier this month we advised respondents that we’re not proceeding with the approach to market,” he said.
“This building was one of a number that were under consideration as part of the approach to market. We made no precommitment to this or any other building.”
The Techne Invest development will require the demolition of existing commercial buildings at 174-192 Liverpool St, as well as the construction of a four-storey podium in addition to the office tower.
It will include space for a possible retail tenancy and a small cafe, plus a basement level car park to accommodate 28 vehicles and end-of-trip facilities for workers with change rooms and bicycle parking.
‘She would fight to keep it open if she were still here’
Romany, the daughter of late midwife Rachel Wake is the latest to petition the government to protect the state’s maternity services. Here’s what she’s doing in honour of her mum.
Border Force sting uncovers visa scam in Tasmania
Australian Border Force officers have uncovered an elaborate visa and migration scam in two Tasmanian towns. Find out how they uncovered the ‘phantom’ nominations.