NBL boss has grand visions for his $200 million redevelopment of Wilkinsons Point

NBL chief Larry Kestelman wants to build a Southbank-style precinct at the Derwent Entertainment Centre, modelled on Brisbane and Melbourne retail and entertainment hubs.

NBL owner and property magnate Larry Kestelman. Picture: STUART MCEVOY

PROPERTY magnate Larry Kestelman plans to turn Wilkinsons Point into a Southbank-style precinct that will drive seven-days-a-week traffic in the area.

The NBL owner, who will spend the next four months negotiating with the Glenorchy City Council about his proposed $150-$200 million redevelopment, believes his vision will become a destination mecca for locals and tourists.

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Speaking exclusively to the Mercury, Mr Kestelman said he will be funding the redevelopment himself, with his request for government assistance solely for the purpose of upgrading the Derwent Entertainment Centre and running a Tasmanian NBL team.

Shoppers walk down Southbank promenade in Melbourne. Picture: Visit Victoria/Josie Withers

“Considering you have Mona across the ditch, you have a beautiful area that walks around to that, I think that you need the two to get linked and I think we can definitely turn it into a destination and a precinct,” he said.

“I see it having a component of sport and community, entertainment, food and beverage, and we see an opportunity to create some really great public space around the end [of Wilkinsons Point].

“If you have a look at places like the riverbanks of Melbourne, the riverbanks of Brisbane, I think there’s really an opportunity to do something a little special there that will drive seven-days-a-week type activation in the area.”

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A view of Southbank in Brisbane. Picture: Darren England

A hotel will also form part of the development, while Mr Kestelman will explore avenues for a ferry stop for passengers coming from the city.

Glenorchy Mayor Kristie Johnston said while there was interest from other parties regarding the 9ha parcel of land — which when combined with the DEC totals 16ha — they didn’t have the scope to deliver what Mr Kestelman could.

“Mr Kestelman’s calibre is of a nature that he can actually achieve the kind of things he says he wants to do on that site,” Ms Johnston said on triple MMM.

Ball now in state’s court

A TASMANIAN “global standard” team will be back on the NBL court by 2021-22 if the State Government will assist a refurbishment of the Derwent Entertainment Centre.

Following the Glenorchy City Council’s decision on Monday night to deal directly with league boss Larry Kestelman on the sale of the DEC and Wilkinsons Point, Mr Kestelman will now turn his attention to negotiations with Premier Will Hodgman.

Mr Kestelman has told the Mercury he requires funding to bring the dated venue up to world-class standard, as well as an ongoing yearly commitment for the 10th licence.

The successful property entrepreneur will fund a proposed $150-$200 million redevelopment on Wilkinsons Point himself.

If he can strike a deal with the Government, it will end a 25-year hiatus for the state at the elite basketball level following the demise of the Devils in 1996.

“We’re aggressive human beings and we’re certainly going to try to make it happen as quickly as we can, but it’ll be either that season [2020-21] or the one after,” Mr Kestelman said.

“This development definitely cannot happen and the team cannot come to a place like Tasmania without Government support. We’ve had very, very positive initial conversations with the Government. We will need their help both with the DEC and the team itself.

“The team we envisage putting into Tasmania needs to be of a global standard, not just good enough to play in Australia.”

He said two factors needed to be finalised — commercial dealings with Glenorchy City Council and a support package from the State Government.

A figure of between $10 and $20 million is believed to be required to upgrade the DEC, which would include increasing seating capacity to 5000 and building a multipurpose facility with five or six courts.

Mr Kestelman, who will return to Hobart next week to continue talks with the Government, is confident that if funding is secured it would take 12 months to complete the process.

“The Tasmanian Government is very supportive of our state securing a licence to participate in the NBL,” Mr Hodgman said.

“While the divestment of the Derwent Entertainment Centre is a matter for the Glenorchy City Council, we will carefully consider any proposal that is put forward to the Government that is in the best interests of basketball in Tasmania and the wider Tasmanian community.”