Michael Buxton secures not-for-profit to Melbourne shopping centre
Michael Buxton’s private investment office has secured another charity retailer to its six year old Clyde North Lifestyle Centre, in Melbourne.
St Vincent de Paul Society, which trades as Vinnies, has leased a 471 sqm showroom beside a Salvos Stores which has occupied since new.
Aldi, PETStock, Repco, RSEA and Hungry Jack’s are amongst the other occupiers.
The complex at 51 Hamersley Drive also known as 1790 Thompsons Road forms the gateway to MAB Corporation’s Element Park.
It is held by MRB House, private investment office for Michael Buxton and family.
“The deal highlights the growing acceptance of circular economy retailing within mainstream retail environments,” Leedwell’s Chris Parry said.
“Historically these operators were often located in fringe retail positions…today they’re attracting significant customer visitation, offering genuine value and delivering strong community outcomes,” according to the executive.
“The ability for Vinnies and Salvos to operate alongside one another was actually seen as a positive, not a challenge,” he added.
Clyde North, part of the Pakenham growth corridor, is about 48 kilometres south-east of the CBD.
Last month realestatesource.com.au reported Griffith Group sold down a retail complex in the suburb, on an estate being developed by Brown Property Group.
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