Warragul Homemaker Centre Fully Leased
The new homemaker centre anchored by Bunnings and Kmart at Warragul in regional Victoria is now fully leased and sales are exceeding expectations.
Leased by commercial agent Burgess Rawson, the Warragul Homemaker Centre at 57 Hazel Drive, Warragul has quickly become the central precinct for large format retail.
Burgess Rawson’s Leasing Director David Mark said the Centre is the only homemaker destination in Warragul anchored by substantial major tenants.
“The high calibre of tenants at the Centre demonstrates that retailers certainly identified the long term appeal of the area,” said Mr Mark.
“The current catchment is in excess of 37,000 and growing at a rate of more than 3% per annum.” The site also benefits from 21,000 passing vehicles per day.
Along with Bunnings and Kmart, tenants include The Reject Shop, Petstock, Repco, Adairs, Early Settler, Cellarbrations and MyCar.
Mr Mark said that the Centre is an indicator of the strength of peri-urban areas. “These are Australia’s fastest growing areas,” said Mr Mark.
“Warragul is a clear example of significant growth creating retail demand. Early performance indicators at Warragul Homemaker Centre demonstrate that need is being met.”
The Centre is owned by property investment manager Newmark Capital which manages in excess of $1 billion in assets.
“Newmark Capital has a successful track record across the eastern seaboard of Australia,” said Mr Mark.
“This is a high quality centre that we have really enjoyed working on and remain committed to curating the most optimal tenancy mix with a combination of hardware, auto, pet and homewares. We look forward to a continued relationship with Newmark Capital on their assets in the future.”
Burgess Rawson offers a full range of commercial property leasing and consultancy services, with a proudly personalised approach for investors, landlords, tenants and developers.
David Mark, Principal, Burgess Rawson
