Porter family sell outgoing Mitre 10 store
Clover Property Partners, a retail investment fund led by ex-agency directors, Mark Wizel and Lewis Tong, has snapped up a sprawling hardware store with plans to redevelop it as a large format retail asset.
The Porters Mitre 10 on 1.53 hectares at 25 Brisbane Street, in Mackay’s CBD, set it back $9.2 million.
Ten showrooms with areas between 180-1127 square metres are planned.
Construction is expected to start after September when the hardware store operators relocate to Paget.
End of an era
The Mackay project has already been branded Porters Square in recognition of the seller and long-time occupier which amalgamated the sites over decades.
Charles Porter established the business in c1883.
Zoned Principle Centre, the property, adjacent to a Coles can also make way for tourist accommodation, offices and residential.
JLL’s Liam Cox, Jacob Swan and Ned McKendry closed an expressions of interest campaign for the property in August.
“Mackay serves a catchment exceeding 128,000 residents and generates $14.8 billion in Gross Regional Product,” they said.
Mr Wizel and Mr Tong, heavyweight former sales agents, are Melbourne based.
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