Tipalea sells Hobart’s Glebe Hill Village to Charter Hall

Coles supermarket in Glebe Hill Village
(Source: Supplied)

Tipalea has sold Tasmanian retail centre Glebe Hill Village to Charter Hall for $50.25 million.

Established in 2022 in Howrah, the retail centre spans 6002sqm and is anchored by a Coles supermarket, a full-line Priceline, a 24-hour drive-thru McDonald’s Liquorland, and 16 other specialty stores.

JLL’s Jacob Swan, Stuart Taylor and Tom Noonan managed the sale process.

Taylor said the campaign received one of the highest enquiry rates, with more than 350 parties registering interest. 

“The asset attracted a diverse buyer pool, with bids received from a range of highly qualified Private and Institutional investors based across Australia,” he added. “This level of interest underscores the quality of the asset and the strong demand for prime retail investments in high-growth areas.”

Developed by Tipalea Partners, Glebe Hill Village also features eco-friendly elements, including solar panels, EV charging stations, smart bathrooms, air quality monitors, a weather station, free wireless charging, and the state’s first dedicated smart app.

Scott Spanton, CEO, Tipalea Partners, said the proceeds from sales will be allocated to the company’s other retail developments in Kingston and Devonport. 

“Having one of Australia’s leading institutional fund managers acquire Glebe Hill Village in a very competitive process is a real vote of confidence in the Tasmanian economy and broader property market,” he concluded.

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