Myer unveils Hobart vision

Written By Unknown on Kamis, 25 Oktober 2012 | 14.56

An artist's impression of the revitalised Murray St frontage.

HIGH-end fashion stores are set to open in Hobart for the first time as part of the Myer redevelopment.

Plans for stage two of the $100 million project have been announced.

It is set to feature retail space across four levels and a "basement food emporium".

It won't open until 2015 but real estate agency Knight Frank is already seeking retail tenants for its Icon Complex.

About 3300sq m of retail space will be available on the ground and first level of stage two.

It fronts on to Murray St, in the site occupied by Myer.

There will be a food court on the lower ground and the top two levels will be occupied by Myer.

Myer will also occupy five levels of the Icon Complex fronting on to Liverpool St, which will be built in stage one of the project and is due to open at the end of next year.

While the Myer store on Liverpool St will have an ultra-modern glass and steel exterior, the Murray St building will retain its original facade.

Knight Frank Tasmania chief executive Scott Newton said negotiations had begun with a number of high-end retailers not yet operating in Tasmania.

"We're confident that we'll have a large proportion of the retail arcade leased prior to the second stage of the development commencing," Mr Newton said.

While he could not reveal the names of prospective retailers, he said the luxury brands were excited by the modern retail space on offer.

"There is pent-up demand for high-quality retail space which has been lacking in the past," he said. "Quality retailers have been reluctant to come to Tasmania because they won't compromise their brand by going into secondary facilities."

Mr Newton said the Icon Complex would have "quality finishes, second to none".

He said rental costs were "fair" but on the upper end of the price scale for city retail space.

Retail business in stage two of the Icon Complex was expected to be worth $35.2 million in 2015-16, with sales predicted to reflect an average productivity level of close to $9,020 per square meter.


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