Personal protective equipment supplier RSEA Safety Australia – a retailer booming throughout COVID-19 conditions – has leased a showroom at MAB Corporation’s near-new Clyde North Lifestyle Centre.
The 1013 square metre deal in the residential growth corridor 47 kilometres south east of Melbourne was negotiated by Leedwell’s Tom Perkins and Chris Parry.
ALDI, Big Picture People, Hungry Jacks, PETstock, Plus Fitness Salvo’s Stores and – since last month, Repco – also occupy the 8500 sqm complex which now has just one vacancy.
Clyde North Lifestyle Centre is a gateway property to MAB’s Element Park, a $150 million, 38 hectare, 70-plus lot industrial estate.
Bunnings was the first business to set up there: in 2017 buying a 3.8ha parcel and building a 16,634 sqm warehouse opposite the retail centre (pictured, right) later sold to Charter Hall for $42.3m on a tight 4.5 per cent yield.
Booming business chases booming population: agent
“RSEA was attracted to the exposure that the showroom presented and the residential growth in the catchment,” Mr Perkins said, pointing to Deep End Services research estimating that will grow from about 64,000 people today, to 157,000 by 2030 (story continues below).
“This is equivalent to a city the size of Wagga Wagga,” the executive added.
Housing estates in the area, the agent said, include Berwick Waters, with 3400 lots, Meridian (1600) and Clydevale (1000).
“The strong residential growth will bring a lot of construction and trades”, Mr Perkins added.
Mr Parry said Clyde North Lifestyle Centre at 1790 Thompsons Road has been leased despite the COVID-19 backdrop.
Showroom rents range between $240-$275 per sqm, per annum.
The Clyde North store is RSEA’s 55th nationally.