An economic boom for the northern suburbs will be activated with the Tasmanian Government reaching an agreement to stimulate private development on surplus Crown Land at Wilkinsons Point.
In one of the most significant private investments made in Tasmania, LK Group is set to invest $500 million to transform Wilkinsons Point.
The Tasmanian Government has agreed to sell the Crown Land at Wilkinsons Point to the LK Group at a value determined by the Valuer-General to enable the development of:
Premier Jeremy Rockliff said that the development will transform the waterfront precinct and provide an economic boom for the State.
"The Tasmanian Government is backing business, jobs and economic growth," Premier Rockliff said.
"It's clear that investors can see the potential here in Tasmania, and an investment of this size is a huge vote of confidence in the Tasmanian economy and the northern suburbs.
"By partnering with private enterprise, we are excited for what will be more than $1 billion in economic activity that will follow.
"This is a massive win for our tradies and local suppliers, with thousands of jobs and years of work set to be activated across three exciting stages of development on the site.
"Not only will new jobs be created during the construction period, but there will also be hundreds of ongoing jobs as a result of this transformational project."
As part of the agreement, the Tasmanian Government will proceed with developing common-use infrastructure including the Wilkinsons Point ferry terminal, services and associated parking facilities.
"We are activating the northern suburbs corridor, and the expansion of our ferry network will further benefit connectivity in the area," Premier Rockliff said.
"With MONA continuing to lead the global art scene and Simon Currant's innovative immersive experience planned for Cadbury's in Claremont, the northern suburbs will become a tourist destination with this world class development and infrastructure.
"Through our 2030 Strong Plan for Tasmania's Future the Tasmanian Government will continue to partner with private enterprise to unlock more investment, create more jobs and drive more economic activity in Tasmania."
