Bunnings

<html><body>
A Port Macquarie shopping centre, anchored by a Bunnings Warehouse, has bought by MPG Funds Management Limited for $44.65 million in an off-market transaction.
The centre is currently under construction with an expected completion date of Q1 2019.
The new Bunnings store will be over 18,000 square metre and be supported by an additional 2,400 square metres of large format retail.
James Wilson, national director of Colliers International’s NSW retail investment services business, said the sale represented a blended yield of 5.64%.
“Bunnings Warehouses are always highly sought after from a wide variety of investors,” said Wilson. 
“During the off market process Colliers International received strong interest from funds, syndicators and private investors.”
“Metropolitan and regionally located retail investments have continued to set benchmark levels due to NSW having a distinct lack of supply, with less than $100 million worth of freestanding investments publicly marketed YTD 2018.
“This scarcity of stock is in stark contrast to Queensland and Victoria. 
“Recent campaigns have resulted in unprecedented levels of domestic and offshore interest, with enquiry levels almost doubling since 2014.
“This reflects the growing depth of retail appetite for rare freestanding investment opportunities, including the highly prized Bunnings covenant.”
Brett Gorman, director of MPG, said the opportunity provided a great opportunity for its investors.
“MPG Funds Management is pleased to grow our long-standing relationship with Bunnings in a rapidly growing region of NSW,” he said.
</body></html>

j.ballantyne1990-6AQqhLzZaK

Brand new Bunnings-anchored site sells for $44.65 million off-market

<html><body>
An off-the-plan Bunnings Warehouse in Victoria’s Yarrawonga is being offered to the market by developer Pellicano Group through CBRE.
The property on 1.46 ha will be located within the Kaiela Business Park.
The sale is being handled by CBRE’s Justin Dowers, Mark Wizel, Kevin Tong and Joseph Du Rieu and according to them, it is expected to attract both local and offshore investor interest.
“Bunnings investments are always highly sought after, for a number of reasons. The net lease structure and fixed rental increases are favourable; along with the strength of the fundamental real estate given the strategic site allocations from Bunnings,” Wizel said of the home products retailer.
In late 2015, a similar Bunnings Warehouse in Swan Hill sold to an interstate private investor on a sharp yield of 5.11 percent.
Renato Pellicano of Pellicano Group said the developer had completed several projects within Yarrawonga and surrounds.
This is the first Bunnings Warehouse site offered for sale in Victoria in 2016, said CBRE’s Justin Dowers.
“We are finding that the lack of available investment grade properties for sale in metropolitan Melbourne has had a direct effect on the continual compression in yield differentiation between regional and metropolitan investment assets,” said Dowers.
</body></html>

prateek24-ezbwHMbNAk

First Victorian Bunnings Warehouse offered in 2016

<html><body>
Berri Bunnings Warehouse in South Australia’s Riverland region is on the market, representing the first sale of a Bunnings-occupied asset for 2017.
Located at the corner of Hoskins Road and Sturt Highway, the new hardware store opened in May 2016 and is the first stage of a master plan for The Riverland Complex Site on the Old Sturt Highway in Berri.
CBRE’s Joseph Du Rieu, Justin Dowers, Alistair Laycock and Jordan Kies, are selling the property on behalf of Adelaide-based developer Pat &amp; Co Pty Ltd – headed by Tony Moro.
He added that Bunnings committing to being the property’s anchor tenant was a vote of confidence for the precinct.
“With one of the country’s most recognised retailers taking a long term lease on the first stage of the development, we can take great confidence that other retailers and business owners will be drawn to the development of Riverland Complex Bulky Goods precinct stage two and three over the coming years,” Moro said.
The 6,557 sqm store was developed in a similar design as the Victorian Swan Hill Bunnings, - which sold in late 2015 for a yield of 5.11 percent - and constructed with a long-term view to accommodate the growing population of the Riverland region.
CBRE’s Justin Dowers said the property marked the first Bunnings warehouse investment offered for sale in Australia for 2017.
“Bunnings warehouse investment properties have been a highly sought after investment vehicle over the past two or so years – a factor that is helping compress yields to as low as 5 percent in some instances,” Dowers said.
He said the lack of retail investment opportunities such as this is also driving investors to compete for assets in regional locations. Furthermore, “the consistent performance and revenue growth of Bunnings has been a key attraction for private and institutional investors,” he added.
In late 2016, the Yarrawonga Bunnings in Victoria was sold off the plan for a record yield of 4.94% – representing the first Bunnings warehouse to be sold to a mainland Chinese investor.
 
</body></html>

jonathanchancellor-7SQnKwU6yx

First Bunnings sale of 2017 in SA to test investment appetite

<html><body>
Savills are marketing an opportunity to buy a Bunnings, Australia's largest hardware chain.
While it's not the Bunnings for sale, but the premises it resides. The Wesfarmers owned company have a secure lease, with two five year options to extend to 2032.
They currently pay $448,000 per annum.
The <a href="http://commercialpropertysearch.savills.com.au/eec59b66-7c51-e811-80d4-005056813885/Sale/Warragul/9-June-Ct" target="_blank">Warragul property at 9 June Court</a>, 100 kilometres south-east of Melbourne, last traded for $6,425,000 in 2016.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/6/bunnings2.jpg" alt="">
There's a catchment population of 50,000 which is projected to grow by more than 20% by 2026.
It sits on over one hectare and spans 5,100 square metre of building, with easy trade drive through, nursery and secure timber yard.
Savills listing agents Benson Zhou and Clinton Baxter suggest the property is unrivalled in one of Victoria's fastest growing regions.
The property won't go under the hammer, instead they are running an expressions of interest campaign until June 26.
</body></html>

jrobinson-rf4aSBido9

Bunnings building in Warragul on the sales block

<html><body>
<div>
The tradie booking website Hipages has been canvassing brokers and law firms in preparation for an initial public offering on the ASX.
HiPages vets the trades licenses and Australian Business Numbers of all tradespeople registered on its site.
HiPages ranks as the largest of three online trades and services sites operating in Australia.
Hipages, which counts News Corporation as a investor with 30 per cent, was last valued at $216 million following a reshuffle of its share register late last year. 
News bought into the website in 2016 for around $38 million.
The Australian Financial Review Street Talk column wrote co-founders David Vitek and Roby Sharon-Zipser had been in recent meetings to explore potential IPO options next year or a late 2018 listing.
</div>
<div>
<div id="article-inline-ad">Hipages has worked with investment bank UBS, which has assisted with prior funding rounds.</div>
<div> </div>
<div>Its investors include Ellerston Capital and the venture capital firm Right Click Capital. </div>
</div>
<div>
Founded in 2004, Hipages charges member fees for tradespeople rather than relying on commissions from jobs delivered.
Recently <a href="https://www.bunnings.com.au/">Bunnings Warehouse</a>, the Australia-based household hardware giant, started offering customers a fixed-price installation service through a strategic partnership with <a href="https://www.homeimprovementpages.com.au/">HiPages</a>.
The deal will give Bunnings customers the option of adding a $275 fixed-price installation service — which includes all fittings and fixtures, removal and disposal of old toilets, and a five-year warranty — from HiPages when they purchase a toilet suite.
Customers will receive a unique voucher code at the time of purchase, which is used to book a local tradesperson on the HiPages website.
The installation service will be rolled out nationwide, following a trial in 15 Bunnings stores in New South Wales.
</div>
 
</body></html>

Hipages tradie booking website seeks out IPO interest

<html><body>
A former Bunnings Warehouse in Rockhampton is for sale for the first time in 17 years after the home improvement giant relocated nearby.
The 7,660 square metre building (above) last traded for $2.2 million in 2001. 
In 2017 when they confirmed the relocation, Bunnings general manager of property Andrew Marks suggested plans were under way to re-purpose the building.
Bunnings have moved down the road from 452-488 Yamba Road to the corner of River Rose Drive and Yaamba Road - better known at the old Masters Home Improvements site.
Their new store spans another 4,000 square metres of retail.
Savills agents Peter Tyson and Jon Tyson are marketing the old premises until July 26.
Savills national retail director Peter Tyson said the building represented a significant holding located in the heart of the region’s large format retailing precinct and offers numerous value-add possibilities for potential owner-occupiers, retailers, developers and investors.
“The building is fully air-conditioned and would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses," he said.
“The complex occupies a prominent 26,626 square metre site with enormous frontage to Yaamba Road, the local section of the Bruce Highway, which features over 9.2 million cars passing the site each year."
The Yaamba Road commercial precinct is bookended by the new Bunnings Warehouse to the north and the 58,000 square metre Stockland Rockhampton Shopping Centre to the south, and is also home to the Red Hill Homemaker Centre, as well as various national retailers including Harvey Norman, Amart, Petbarn and Spotlight. 
“It is interesting to note a long list of national retailers not present in the Rockhampton market and trade area analysis reveals an enormous available catchment extending east to Yeppoon and west to Emerald and beyond, with almost 230,000 people forecast to reach over 250,000 people by 2031,” Peter Tyson said.
Earlier this month Savills listed the <a href="https://www.urban.com.au/expert-insights/investing/84704-bunnings-building-in-warragul-on-the-sales-block" target="_blank">Bunnings premises in Warragul</a> outside of Melbourne, which is currently tenanted to Bunnings.
</body></html>

Former Bunnings Rockhampton warehouse up for grabs after relocation

<html><body>
A modern Bunnings anchored retail complex in Norman Gardens, near Rockhampton, has hit the market through Savills.
Bunnings only moved into the <a href="http://commercialpropertysearch.savills.com.au/7972985e-4a71-e911-80d9-005056813885/Sale/Norman-Gardens/540-Yaamba-Rd" target="_blank">Yaamba Road property</a> in 2017. It is better known as being the old Masters Home Improvements site.
The 2013 developed complex has a long lease to Bunnings until 2030 with options to 2078.
Bunnings occupy over 76% of gross lettable area.
It is the only Bunnings in the area supported by a freestanding retail building which is currently tenanted to Autobarn, Freddy's Fishing World &amp; Outdoors and Petstock.
The whole complex fully tenanted brings in over $2.6 million per annum.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/6/19/Bunnings1.jpg" alt="">
There are 448 car parking spaces on the property, 108 under shade sails.
It is located seven kilometres from the Rockhampton CBD and sees 25,900 vehicles pass daily, around 9.4 million annually.
Savills agents Peter and Jon Tyson have the listing. 
The Tysons sold <a href="https://www.urban.com.au/expert-insights/investing/85514-former-bunnings-warehouse-up-for-grabs-after-relocation" target="_blank">Bunnings' former premises down the street</a> just last year.
The 7,660 square metre building was sold for nearly $39 million.
It was sold in August 2018 and is now known as Red Hill Homemaker Centre which comprises over 25 retailers and a 500 space car park.
The likes of Harvey Norman, The Good Guys, Australia Post and Intersport have all moved in to the building, with tenancies still available through Knight Frank Rockhampton.
“The building would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses," Tyson said before its sale.
</body></html>

Bunnings

Editor's Picks

Have something to contribute?

Developments

New apartments

New townhouses

News

Bunnings

Editor's Picks

Receive the latest news stories to your inbox

Have something to contribute?

Developments

New apartments

New townhouses

News