A national electronics retail chain could be setting up a store in Launceston after a proposal was lodged with the council - but concerns have been raised that the big box development could put pressure on retailers in the CBD.
King Wharf Developments, partly owned by Launceston businessman Errol Stewart, has an in-principle agreement with The Good Guys to build a store at Invermay, on the west side of Goderich Street.
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Mr Stewart said the store would be a direct competitor to Harvey Norman on the corner of William and Charles streets.
"We've got an agreement with [The Good Guys] to push forward," Mr Stewart said. "I've got to get permission to come off Goderich Street and that's going to be pretty hard."
"But, if we don't [get permission], that development will fall over.
"There's probably nowhere else in town they can go."
Mr Stewart is proposing to subdivide 29,986 square metres of land at 65-75 Gleadow Street into three lots, with a commercial tenancy proposed for a 7751 square metre lot.
The total floor area of the store would be about 2475.55 square metres and the $5 million development would involve the construction of 98 parking spaces, motorbike and bicycle parking, two loading bays and signage.
Works within the Goderich Street/East Tamar Highway road reserve would also be required, including a new junction with a traffic island, landscaping and tree removal.
As part of the development application process, a traffic impact assessment, hydrological management plan and land contamination assessment have been completed and submitted to the council.
The Good Guys store would employ 25 full-time employees.
Mr Stewart withdrew his proposed Kings Wharf Towers residential development after frustrations around the planning scheme.
Launceston Chamber of Commerce chief executive Neil Grose said Mr Stewart's latest proposed development was further evidence of significant investor confidence in Launceston.
"While further big box development will place even more pressure on the CBD to remain competitive, it does however reflect consumer preferences and that the CBD will increasingly need to adapt to changing market realities," he said.