Prospect Vale Marketplace is a single level neighbourhood shopping centre anchored by a Woolworths and 20 specialty stores. The tenancy mix features cafes, a pharmacy, butcher, florist, newsagency, post office, beautician and other mixed stores and services. The centre was refurbished in 2014, which included the expansion of Woolworths and the addition of an on grade car park.

The centre is situated on Westbury Road, which is a sub-arterial road through Launceston’s northern residential and commercial suburbs. Prospect Vale is located approximately 10km southwest of Launceston CBD in the southern Launceston gateway suburb of Prospect Vale.