Spotlight Property Group development: maximising Shepparton’s retail potential
The retail sector is witnessing a notable transformation with the recent opening of the final stage of Spotlight Property Group’s (SPG) new homemaker centre in Shepparton (Vic).
Launched in June 2024, this modern Large Format Retail centre features a diverse mix of national and ASX-listed retailers, complementing its major anchors, which include Spotlight, Anaconda, and The Good Guys.
The modernisation trend in Large Format Retail
A significant trend in the retail industry is the migration of Large Format Retailers from older regional locations to newly built, contemporary retail centres. This transition is driven by the numerous advantages modern centres offer, such as modern amenities, better visibility, and strategic locations. For instance, Barbecues Galore, a well-known retailer in outdoor living products, recently moved from a dated nearby store to the new SPG Shepparton centre.
According to Angus McDonald, CEO of Barbecues Galore, this relocation has been transformative. “The modern facilities, coupled with increased visibility and strategic location, have allowed us to better serve our customers and grow our business. The benefits of this move are evident in both our sales figures and customer experience feedback,” McDonald notes.
Growing appeal of regional retail locations
Regional areas are increasingly attractive to retailers, a shift highlighted by recent successful developments like the SPG’s Shepparton centre and other development projects in Hervey Bay. This trend, encapsulated by the phrase “push for the bush”, reflects a growing recognition of the potential in regional markets. Expanding into these areas allows retailers to tap into new customer bases and expand their presence competitively.
Collaborative efforts and future prospects
The development of SPG’s Shepparton centre underscores a collective effort to enhance regional retail infrastructure and improve shopping experiences. This project represents a collaboration between various stakeholders, including Large Format Retail Association members, from SPG, to Marked Property, Leffler Simes Architects, and Blueprint.
Steve Evans, Director of Leffler Simes Architects, highlights the strategic approach of the Spotlight Property Group’s development adding, “SPG understands design from both a developer and retail perspective. Its new Large Format Retail centres are designed with advanced architectural features, superior access, enhanced visibility, and a strategic layout that supports retail adjacencies and critical mass.”
The investment in the Shepparton development exemplifies the future trajectory of Large Format Retail in regional areas, focusing on development, design, and leasing. This project is indicative of SPG’s broader strategy to transform regional centres, setting a benchmark for future developments.
Spotlight Property Group’s new centre in Shepparton represents a broader shift in the retail landscape, emphasising the benefits of modernisation and regional expansion. As retailers continue to explore opportunities in regional markets, developments like SPG Shepparton highlight the evolving dynamics of Large Format Retail.
