Property 
Developments

After selling the Heemskerk Wine Group to Piper’s Brook Vineyard in 1998, the JAC Group invested in premium properties around Tasmania. Among the first purchased with lease backs were the NAB Bank in Launceston in 1998 and the Westpac Bank branches in Launceston and Hobart in 2000. Josef is most proud however, of his purchase in 2000 of the historic 1880s Custom House in Launceston after two years of negotiations with the Australian Government. 

The JAC Group redeveloped the former Motors car dealership on the corner of Bathurst and Frederick streets into the Nuts & Bolts big box retail complex in 2006 and then redeveloped a Shell Service Station into the Liv-Eat Shopping Centre at 143 Hobart Road in Kings Meadows in 2006. After two years of negotiations with the Tasmanian Government, Josef acquired the long vacant and derelict Old Launceston General Hospital in 2008 and redeveloped it during the Global Financial Crisis into The Charles. The Bureau of Meteorology building in Battery Point was also purchased in 2008 and redeveloped into apartments called the Met on Ellerslie. Josef retired as Chairman on the 1st July 2011 to the position of founding director and the board’s adviser Peter Dixon took on the role of an independent executive chairman at that time. The JAC Group then redeveloped the Redline Coaches depot in Launceston in 2014. The Penny Royal Hotel and Apartments which had been purchased in 2013 with its derelict theme park was later redeveloped into a food, wine and adventure precinct which opened in 2016. Between 2003 and 2020 the JAC Group also developed a dozen residential subdivisions throughout the state making Josef Chromy one of the largest property developers in Tasmania.