Pets Domain is the newest retailer to join the line-up at the Geelong Gate Homemaker Centre in Corio, after it opened its 29th Australian store at the complex.
The pet supplies retailer will occupy a 783sqm showroom – formerly home of Koala & Tree Furniture - at the centre, neighbouring other major retailers including Freedom, Early Settle, Plush, BCF, Chemist Warehouse, Focus on Furniture and Fantastic Furniture.
CBRE’s Tom Perkins, who negotiated the eight-year lease in conjunction with fellow agent Chris Parry, said the centre’s strong tenancy profile and high profile location were key factors underpinning the deal.
“Pets Domain was attracted to the regional homemaker centre’s A-grade retail mix, exposure to Princes Freeway and ease of customer access given its close proximity to the Geelong Ring Road,” Mr Perkins said.
“The retailer identified Geelong as the preferred location for its 12th Victorian store due to its strong growing population, which has placed it 12th on the list of largest Australian cities with a population of approximately 190,000.”
Mr Perkins went on to say the transaction highlighted the growing appeal of large format retail centres.
“This transaction has continued the trend where landlords are actively seeking out non-traditional large format retailers to diversify their retail mix within their centres,” Mr Perkins added.
The deal follows another recent Pets Domain transaction at 1152 Burwood Highway in Ferntree Gully.
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