Strong business growth has underpinned the expansion of play centre group TunzaFun, with the upcoming opening of its ninth Australian outlet in the Melbourne suburb of Maidstone.
The brand, originally an arcade store, has branched into children’s playcentres over the past three years by bringing Funtopia climbing centres to Australia. The Maidstone outlet marks its second venue specialising in fun interactive climbing and playgrounds, following the success of TunzaFun Xtreme in Wantirna South.
Funtopia by TunzaFun signed a 12-year lease on the new 1,288sqm showroom at 98 Hampstead Road – previously the home of Rays Outdoors.
Located within the Highpoint Lifestyle Centre, the new Funtopia climbing venue is surrounded by a number of renowned national retailers including Baby Bunting, Super Cheap Auto, the Outdoor Furniture Specialist and Pet & Aquarium Warehouse.
CBRE’s Chris Parry, who negotiated the lease in conjunction with fellow agent Tom Perkins said location was a key factor in the deal.
“TunzaFun was drawn to Maidstone off the back of the area’s strong population growth, which is perfect for its Funtopia brand,” Mr Parry said.
“Maidstone has experienced impressive levels of population growth in recent years, with 3.64% growth in the immediate catchment significantly higher than the projected benchmark of 1.63%,” Mr Parry said.
Mr Perkins said the property was well positioned to capitalise on strong patronage to the Highpoint Lifestyle centre.
“In addition to securing a presence within one of Melbourne’s most densely populated suburbs, being located in such close proximity to Highpoint Shopping centre was also a key factor that attracted Funtopia to a property in the area,” Mr Perkins said.
“The addition of a play centre to the precinct will help encourage repeat visitation from families, as well as longer dwell time. Furthermore, this transaction demonstrates the strength of the growing entertainment and leisure sector in large format retail centres amid increasing focus to offset slower retail sales.”
Over the past 12 months, a number of Victorian large format centres have welcomed a more diverse tenancy mix, with Lollipops securing a presence at City West Plaza Homemaker Centre in Sunshine and Chipmunks opening at Dandenong Home Quarters and Cranbourne Home.
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