CADRE Ventures into Tasmania with $15.5 Million Retail Development in Devonport

The Tyas Family’s Real Estate Development arm, CADRE has this week announced its expansion into Tasmania with a prime development site located at 7 – 9 Finlaysons Way in Devonport.

The family-owned developer has the green light to deliver a $15.5m, state-of-the-art large format retail centre, construction has commenced on site.

The proposed development will boast a significant Net Leasable Area (NLA) of 3,400sqm, catering to the growing demand for retail space in the region.

Town Planning permit has been received and local construction group Oliver Kelly is appointed to build the project. The group’s expertise and experience will ensure CADRE’s standards of quality and eXiciency are delivered throughout the build.

CADRE in conjunction with CBRE have done an exceptional job leasing this centre that is now 100% leased heading into construction.

CADRE has already secured substantial 10-year lease agreements with national brands, further underscoring the appeal of the development:

• Total Tools – occupying 1,550sqm
• RSEA Safety – occupying 1,050 sqm
• Barbeques Galore – occupying 800sqm

Commenting on the expansion into Tasmania, CADRE Director Nicholas Tyas expressed confidence in the region’s growth potential, stating, “CADRE is proud to be diversifying into Tasmania and strongly believe in the growth of Tasmania.”

“We are actively looking for new sites in the region,” he added.

The development at 7 – 9 Finlaysons Way represents an exciting milestone for CADRE and the Devonport community. With a commitment to sustainability, quality, and innovation, CADRE is poised to deliver a retail destination that enhances the local landscape and contributes to Tasmania’s economic growth.

The leasing for this was done by Ryan Arrowsmith.