Party supplies chain coming to ‘Melbourne’s second city’
Centuria has filled a showroom at a south east Melbourne homemaker centre acquired with its 2021 takeover of Primewest.
Party supplies group I Love This Shop has signed up for the 971 square metre space – 2B, Home Quarter Dandenong, at 55-67 Frankston-Dandenong Road, Dandenong South.
Elsewhere in Melbourne, the retailer trades from the city, Braybrook, Melton and Moorabbin Airport.
In the regions, there are outlets at Ballarat’s Delacombe, Geelong, Mildura Shepparton and Wodonga.
Primewest paid $32.5 million for Home Quarter Dandenong six years ago.
Centuria has an inhouse leasing department; Jason Smith looks after this asset.
The I Love This Shop tenancy was last occupied by children’s amusement centre Chipmunks Playland & Cafe (story continues below).
Centuria strikes another south east deal
Developed in 2012, Home Quarter Dandenong contains 12,234 sqm occupied by, amongst other major retailers, Fantastic Furniture, Officeworks, Rebel Sport, Super Cheap Auto and The Good Guys, and 275 car parks.
Primewest bought it from Warren Ebert’s Sentinel which outlaid $29.8m – an eight per cent yield – in 2016.
On 1.38 hectares, the homemaker centre is about 31 kilometres south east the CBD – a region once marketed as ‘Melbourne’s second city’ (a title, arguably, lost over the past decade to Box Hill).
Also today, we are reporting Centuria, on behalf of the Industrial REIT, renewed Iveco to an office/warehouse in Keysborough, abutting Dandenong.
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