Harvey Norman snares Clark Rubber at Wodonga

Last month, Harvey Norman spent $97m on a Taylors Lakes homemaker centre, where it is an occupier.

Harvey Norman has secured Clark Rubber to its Wodonga Homemaker Centre, at the Victoria/NSW border.

The tenant will join 11 neighbours at the complex including BCF, Bing Lee, Officeworks, Supercheap Auto and McDonald’s.

The showroom spreads 591 square metres and the initial lease term is five years.

A Bunnings showroom is across the road.

Harvey Norman holds several homemaker centre investments; last month it outlaid $97m for another, in Melbourne’s north-west Taylors Lakes.

In March the retail group spent $28.25m on one in Western Australia’s Geraldton.

Leedwell’s Tom Perkins, Chris Parry and Nick Segrean struck the Wodonga deal, at 285 Victoria Cross Parade (story continues below).

Wodonga Homemaker Centre contains 355 car parks.

The agents wouldn’t comment on rent however other showroom space in the complex achieves $170-$200 per sqm.

The homemaker centre contains 12,000 sqm of area and 355 car parks.

Australians bring holiday to them

“As the effects of COVID continue to affect Australian spending habits, we are continuing to see home improvement reap the rewards and benefits from these re-directed purchases,” Mr Perkins said.

“In 2021, approximately 71 per cent of homeowners are tipped to redirect some of their holiday savings into home upgrades, and with the prospect of international holidaying unlikely for some time, it’s becoming more common for families to decide to install a pool with these savings in lieu of the family trip,” he added.

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Marc Pallisco

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