A wave of new tenant activity at the Mildura Homemaker Centre is helping establish it as the retail hub of Victoria’s north-west.
Pets Domain has signed an eight-year lease on a 1,152sqm showroom at the centre – marking the retailer’s 30th Australian store and 12th in Victoria.
The pets’ supplier specialist will join a line-up of several major retailers at the centre, including Fantastic Furniture, Amart Sports, Chemist Warehouse, Bevmarks, Dollar Curtains & Blinds and Carpet Court. The Good Guys is located immediately adjacent.
CBRE’s Tom Perkins, who negotiated the lease in conjunction with colleague Chris Parry, said the strong tenancy profile and trading performance were key factors attracting Pets Domain to the centre.
“With nine national retailers in addition to Pets Domain, the Mildura Homemaker Centre boasts an A-grade retail mix that has cemented its position as the region’s main large format shopping hub,” Mr Perkins explained.
“The Mildura Homemaker Centre enjoys strong patronage, attracting customers from as far as Broken Hill, which is approximately three hours’ drive away.”
Mr Perkins said the addition of Pets Domain to the centre would further complement and diversify its retail offering.
“The landlord, MPG Funds Management, was attracted to Pets Domain as the centre’s newest retailer due to its ability to help drive seven-day a week traffic,” Mr Perkins said.
“Furthermore, it highlights the growing trend of landlords actively seeking out non-traditional large format retailers to diversify their retail mix within centres.”
The deal follows a series of recent lease negotiations at the Mildura Homemaker Centre in the past 12 months, with the addition of three other national retailers including Carpet Court, the Salvation Army and Amart Sports.
Large format retail rentals in the area range between $80 per square metre and $140 per square metre gross.
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