JB Hi‑Fi expands Tasmania footprint with new Devonport store
JB Hi‑Fi has committed to a new Large Format Retail store at the Stony Rise Central development in Devonport, reinforcing retailer confidence in the north-west Tasmanian retail catchment.
The national electronics retailer has secured a 1,650 square metre tenancy within the soon-to-be-developed Stony Rise Central precinct, located at Friend Street, Stony Rise, just outside Devonport.
Positioned on the western edge of Devonport, Stony Rise Central will offer direct access to major arterial routes and strong visibility to passing traffic. The precinct has been designed to accommodate national Large Format Retailers servicing Devonport and the wider north-west Tasmanian region.
The commitment represents a major anchor for the 4,000 square metre Large Format Retail development and further supports the region’s emergence as a key retail destination.
Jake Beckwith, Colliers Associate Director, Retail Leasing, said national retailers were increasingly recognising the opportunity in well-located regional centres.
“We’re seeing national retailers increasingly recognise the opportunity in well-located regional centres that offer strong trade areas, limited competing supply and growing demand for Large Format and homemaker retail,” he said.
“Well-designed Large Format Retail developments such as Stony Rise Central are attracting high-quality operators seeking modern accommodation with strong accessibility and exposure, particularly where projects are being delivered alongside significant mixed-use and town centre investment.”
Colliers said discussions are underway with several additional national retailers for the remaining space within the development, reflecting continued demand for premium Large Format Retail sites.
The site forms part of a broader retail expansion precinct at Stony Rise, adjacent to Stony Rise Village, a $60 million retail centre currently under construction.
Once complete, the combined developments will establish Stony Rise as one of Devonport’s most significant new retail precincts delivered in more than a decade, providing modern retail amenity, employment opportunities and an expanded offer for local residents.
