Bedshed commits to newest store within Ballarat’s premium Large Format Retail precinct

Leedwell has successfully negotiated the disposal of 1331 Howitt Street, Wendouree in Victoria on behalf of Fair Price Furniture who are relocating to a larger premises as a result of strong sales for household goods.

In the same vein, the high-profile showroom has been acquired by a local owner and occupier to open a Bedshed showroom, showcasing their latest fit out and concept.

Bedshed Ballarat becomes Bedshed’s 40th store nationwide and further enhances the network’s continued growth across the East Coast, following the successful launch of three NSW stores in the last financial year.

Bedshed will bring its bedroom expertise, exclusive furniture ranges and leading mattress brands to the local market in store via an industry leading fit out and online through their ecommerce platform.

The property represents a modern showroom with prime frontage to Howitt Street, located directly opposite Harvey Norman, Plush and Snooze. The property benefits from fifteen on-site car parks, roof-top solar panels, suspended ceilings, and air-conditioning.

Leedwell Partner Chris Parry said, “COVID-19 and how governments responded has given home owners and Australia’s residential markets many things to think about.”

“Some were obvious but others came out of left field and redefined core beliefs around where and how people wanted to live.”

“When business communicated to staff to not come into the city where their workplaces and daily social interactions were located, the need or desire to live in the city or near city suburbs was also questioned.”

Ballarat has been a major beneficiary of the shift to regional living and is growing at a rapid rate. At current rates, Ballarat will have a population of over 160,000 by 2040, this means Ballarat needs to build over 1,000 houses a year to meet this demand.

Wendouree is a large suburb on the north-western rural-urban fringe of the city of Ballarat and is the fastest growing regional city in Victoria.

“The growth in population is expected to underpin healthy sales growth for Ballarat’s retailers and directly benefit precincts such as Wendouree, in particular Large Format Retailers where we see strong sales performance tied to housing churn and new housing,” added Chris.

Fast Facts Box
• Address: 1331 Howitt Street, Wendouree Vic
• Property Type: Large Format Retail/Showroom
• Site Area: 2,003 sqm | Building Area: 1,160 sqm
• Sale Price: $3,500,000
• Purchaser: Locally based owner-occupier
• Agent: Chris Parry; Leedwell Property