Bunnings Outgoing Hoppers Crossing Store, Melbourne, Sells For $14.6 million

Beyond 2020, the Hoppers Crossing site has the potential to be relet, or redeveloped, being within a strip that has become a homemaker centre for the suburb, about 25 kilometres west of the CBD. Other big-box retailers on Old Geelong Road include Autobarn, Harvey Norman, SupaCheap and Tradelink.

The hardware industry has fast become competitive since Woolworths-backed Masters came on to the scene, opening its first store last September, fitted with its own McDonald’s outlet. It has since opened in Caroline Springs and Braybrook, also in the west.

Masters, which like Bunnings sells its own brands, plans to open about 150 stores in the next few years. According to Mr Dowers, some 20 Masters stores are under construction or in planning in Victoria. He said on average these stores are between 13,000 and 14,000 square metres.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.