Shepparton Retail Hub, a fully leased retail offering in Victoria’s fifth largest regional city, Shepparton has been brought to market by Colliers’ Tim McIntosh and James Lawson in conjunction with Stonebridge’s Rorey James and Justin Dowers.

Anchored by Officeworks, Shepparton Retail Hub benefits from a long WALE of 6.17 years, with 57% of the centre’s total 3,820 square metres GLA secured by Wesfarmers with leasing options until 2038.

Representing the only Officeworks within a 105km radius, servicing far beyond its local catchment, the offering is bolstered by leading national and chain retailers, including Metcash’s The Bottle O’ Warehouse, ASX-listed Club Lime Gym and Red Rooster, providing a combined net income of $819,937 per annum when fully leased.

Colliers director for retail middle markets Victoria, Tim McIntosh said, “Regional retail investment sales activity across Victoria has been scarce in supply yet highly sought after in our top 10 regional cities. Investors, particularly local and interstate, have seen the attraction in Victoria’s 50% stamp duty concession and continued population growth as key drivers to align with tenants growing trading performance.”

Stonebridge partner, Rorey James said, “The defensive nature of the retail sub-sectors has seen the assets become even more highly sought after by investors, who are seeking income security through non-discretionary specialty tenants, built-in rental growth, all underpinned by robust demographic characteristics and population growth.

“Across 2023, there has only been one Officeworks investment sale nationally, showcasing the rarity of such an asset. Large Format Retail and neighbourhood centres are being actively targeted both by established and emerging capital seeking the security of an ‘essential services’ income, particularly in strong growth locations and long-term underlying land value.”

Shepparton Retail Hub occupies a 1-hectare site with prominent exposure to 22,000 vehicles passing daily along the Midland Highway. Further underpinned by favourable activity centre zoning, a low site coverage and potential for future value-added in the short- to medium-term.

The retail hub is centrally located in Shepparton CBD’s core retail and commercial precinct, just 500 meters from Shepparton Railway Station, surrounded by national retailers Woolworths, Coles, Kmart, ALDI, Chemist Warehouse and JB Hi-Fi.

Shepparton Retail Hub is being offered for sale via an Expressions of Interest campaign, closing at 2pm AEDT Wednesday 29th November 2023.