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Howrah’s Glebe Hill Village shopping centre sold for $50 million

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Glebe Hill Village opened in 2022 with a 24-hour McDonald's drive-thru

Tasmania’s “most technologically advanced” shopping centre, the newly-built Glebe Hill Village, has been sold.

A Charter Hall managed fund has splashed $50.25 million on the Howrah shopping complex, located 8km east of Hobart’s CBD.

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Glebe Hill Village opened in 2022 and features a Coles supermarket, Priceline, 24-hour McDonald’s drive-thru and what was the state’s first Liquorland store.

It also boasts a range of specialty stores, an array of solar panels, EV charging stations, smart bathrooms, air quality monitors and a weather station.

The retail centre features a Coles supermarket and Priceline store

The property was sold by Tipalea Partners to a Charter Hall managed fund following a sales campaign by JLL.

Tipalea CEO Scott Spanton said the sale proceeds will be “fully redeployed into other Tasmanian projects”, including the recently approved Spring Farm Village in Kingston and Stony Rise Village in Devonport.

The funds will be reinvested into new Tasmanian projects like Kingston’s Spring Farm Village

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

JLL’s Stuart Taylor said the sale attracted “significant investor interest”, with over 350 enquiries.

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“The asset attracted a diverse buyer pool, with bids received from a range of a highly qualified private and institutional investors based across Australia,” he said.

“This level of interest underscores the quality of the asset and the strong demand for prime retail investments in high-growth areas.”

The funds will be reinvested into new Tasmanian projects like Devonport’s Stony Rise Village

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