Former Warragul Saleyards set to become home of exciting new Large Format Retail lifestyle centre

The famed Warragul Saleyards located on the edge of the town’s CBD has been earmarked to provide much needed retail amenity in a project being delivered by Market Lane Group.

Buchan Architects have been appointed to design the 7,500m2 retail centre which is anticipated to attract strong interest from a range of national brands in the Large Format Retail Sector.

The site benefits from an imposing 240m + frontage to Alfred Street and spans just under 1.7 hectares.

According to a recently commissioned report from Deep End Services the Estimated Economic Output of Warragul sits at $2.8BN some 55% of the Baw Baw regions total output.

Prospective large format retailers at the subject site will be trading in an annual market which is expected to grow by $157.50 million – at an average rate of 4.30% per annum – over the 9 years from 2021 to 2030.

The Baw Baw Shire itself benefits from $3,790 per capita spending which is above the regional average in Victoria, additionally the primary sector of Warragul has $3,682 per capita spending again which is above the regional average in Victoria.

Warragul is expected to enter a booming decade for residential housing growth with some 1,500 hectares, 12,000 dwelling and 30,000 people expected to be added to the current population by early 2030. 6,338 dwellings have been approved in the last 9 years to 2020.

Mark Wizel, Director of Market Lane Developments said “We were immediately attracted to the fundamentals of the former Warragul Saleyards, we have taken a lot of confidence from the strong trading development that H Troon put together which is now owned by Newmark Capital in close proximity to our site.”

Warragul is attracting strong flows of population growth with families moving from Metropolitan Melbourne as well as other parts of the Latrobe Valley. “Covid really enhanced our interest in the site, it is quicker to get a train from Warragul to the CBD than it is from Pakenham due to the V-Line Express,” said Mr Wizel.

Expressions of Interest to lease showrooms from 500sqm are being offered now by exclusively appoint conjunctional leasing agents Ryan Arrowsmith of CBRE and Ben Wilson of Wilson Property Group.