Total Tools has signed a pre-commitment lease for 10 years at a prime greenfield site close to its existing premises in Bundaberg, Queensland.
In a deal struck by Colliers’ agents, Will Goldsworthy and Sam Quintner, Total Tools has signed a 10- year pre-commitment lease to move into the site next year at 63 Johanna Boulevard, Kensington.
Colliers head of retail leasing Queensland, Will Goldsworthy said Total Tools would benefit from moving into this much larger prime new location strategically positioned in the main large format retail trade precinct.
“With the new site offering about twice the current footprint, this is an opportunity for Total Tools to expand, taking advantage of the large Bundaberg trade market,” he said.
“The large format retail market has seen significant growth since 2020, as demand has seen retail sales grow 25% above pre-pandemic levels. The site is strategically positioned with prominent frontage to Johanna Boulevard and will benefit from future infrastructure upgrades.”
Colliers Queensland retail leasing associate director, Sam Quintner said Bundaberg was experiencing strong population, economic and jobs growth which was driving the success of the large format retail market.
“Australian main trade area large format retail spending is currently estimated at $190.4 million and is projected to increase to $289.8 million by 2041, representing an average annual growth rate of 2.4%,” he said.
“Total Tools has been a go-to in Bundaberg and this new site offers locals the opportunity for a larger footprint in the go-to commercial area to accommodate the future demand, and within close proximity of the soon to be built $1.2 billion Bundaberg Hospital. Total Tools will benefit moving forward with Bundaberg being a location of choice for businesses, investment, and employment.”