Triple leasing success at Mildura Homemaker Centre

The Mildura Homemaker Centre in north-west Victoria has found three new tenants, establishing its position as one of the town’s leading large format retail complexes.

Super Retail Group’s Amart Sports, Carpet Court and the Salvation Army have all signed new leases at the centre, taking three separate tenancies totalling 3,088 sqm.

Amart Sports’ entry marks the retailer’s first store in the Mildura market.

The deal was brokered by CBRE’s Tom Perkins and Chris Parry.

Parry said the Mildura Homemaker Centre’s strong national tenancy profile helped attract the new retailers.

“With seven existing national brands at the centre, these new retailers were eager to capitalise on the strong patronage at one of Mildura’s major shopping destinations,” Parry said.

Other retailers at the centre include Fantastic Furniture, Chemist Warehouse and The Good Guys.

Perkins added: “The Mildura Homemaker Centre represents a strategic location for the retail network due to the low cost to entry, including rent, advertising and employment – whilst also servicing a significant catchment due to the town’s isolation from other regional centres.”

Parry said recent deals highlight the strength of Victoria’s regional retail markets.

A case in point is the Rocklea Homemaker Centre in Bendigo, which was recently fully leased to primarily national retailers such as Fantastic Furniture, BCF and Pillow Talk.

“The centre subsequently sold for $35,000,000 - representing an equivalent yield of 7.43 percent,” Parry said.