King Street conundrum

Elders Real Estate representative Justin Wiggins outside the old Begents site in King Street, Scottsdale.

October 2, 2024

Four landmark buildings are currently up for grabs in King St, with the major thoroughfare through Scottsdale a blank canvas crying out for redevelopment.

The Lyric Theatre has officially hit the market, the old Begents site is still for sale months after the retailer closed its doors, while both the old Forestry Tasmania Eco Centre and revitalised Old Post Office are up for lease.

Elders Real Estate representative Justin Wiggins said he hoped the retail and commercial real estate market would start to adjust, following the general housing market showing signs of an upswing.

“It is really rare to have all of these great sites available at once – they are all very different sites and quite unique,” Mr Wiggins said.

He said the three sites listed with Elders had been receiving attention, with some interested parties from overseas.

A “big chain store” had looked at investing in the Begents site but could not make their costings work, the challenging hospitality sector made the Old Post Office a tough proposition at present while the Eco Centre was suitable for a range of industries, Mr Wiggins said.

“Hopefully now we are in spring we will start to see some traction,” he said.

“There is a huge amount of potential.”

Peter Lees representative Beck Routley said there had been some enquiry about the Lyric Theatre.

It appears unlikely that Dorset Council would step in to save the historic icon though.

Commissioner Andrew Wardlaw said Council was better placed as an enabler for private operators, rather than becoming a landlord.

“Council already maintains a significant number of community facilities across the municipality. However, each property is assessed on its merits,” Commissioner Wardlaw said.

“Heritage-listed buildings like the Lyric could serve as valuable community assets, but any purchase must be carefully considered with a clear business case demonstrating a genuine need and positive community benefit.”

When asked if Dorset Council was doing enough to help generate economic growth in Scottsdale, Commissioner Wardlaw said Council was committed to revitalising the area. 

“We understand the importance of a vibrant retail sector in Scottsdale and will work closely with local stakeholders to attract investment into the municipality,” Commissioner Wardlaw said.

He acknowledged the challenges of the current economic environment with cost-of-living pressures hitting hard.

“Additionally, high land and building costs, coupled with recent rising interest rates, make capital outlay difficult for potential operators," he explained.

However, he said the issues seen on King Street did not reflect the broader Dorset municipality and said he was confident about the region’s future.

“Dorset contributes $0.56 billion to the state economy—1.5% of Tasmania’s total value—while employing 1.1% of the state’s workforce. These numbers highlight that our community punches well above its weight, especially with thriving sectors like agriculture, forestry, tourism, and public services.”

General Manager John Marik said council policies and strategies would help incentivise investment by creating the right environment for commercial operators. 

He said council was helping stimulate local economic growth through its ‘New Business and Investment Policy 49' which supports new businesses with planning fee discounts and rate remissions.

“We have been working with the Office of the Coordinator General to highlight opportunities at Ling Siding Industrial Precinct and the proposed new light industrial precinct at Northeast Lane.

“TasNetworks’ North East Hub is already under construction in Northeast Lane, creating jobs and investment. Council has approximately 6-8 hectares available in this precinct and is planning for other future developments, including the Austins Road residential project.” 

Mr Marik added that long-term planning was underway to make Dorset a desirable place to live, work, and visit. 

“This planning phase includes population studies, land supply, and infrastructure reviews to ensure future growth aligns with community needs. With the ACEN North East Wind Farm potentially bringing up to 400 construction jobs and 65 operational roles, we’re planning decades ahead for housing and employment needs,” he said.

“Council is also partnering with Visit Northern Tasmania to update the North East Marketing Strategy, aimed at boosting tourism.

“Additionally, the $2.8 million shortfall in funding for Stage 3 of the Rail Trail from Scottsdale to Lilydale Falls is an immediate priority. This project is projected to attract over 21,000 users in its first year, including 9,279 tourists, and could generate up to $42.21 million for the region over 10 years."

North East Tasmania Chamber of Commerce President Maria Branch said the Chamber would also organise another Enabling Business Growth workshop to provide resources and advice on starting up a business in the area.

“It would be a great opportunity to recap what was covered and ignite the interest of our to-be entrepreneurs again to our area.”

In the meantime, Ms Branch had simple advice to encourage prosperity in the region immediately.

“I’d encourage the community to shop locally which will create growth in the region and to emphasise how wonderful the North East region is and what a great place to live and be part of.  

“The Chamber is available for assistance and advice, whether it is in the form of starting up a business, promoting growth and expansion or just wanting to talk to other business owners for mentoring and support.”