A strategic repositioning opportunity in the City of Lake Macquarie is set to provide an incredible opportunity for a savvy investor, developer or owner-occupier to reposition or develop a former Bunnings Warehouse.

The current built form, a 12,820 sqm former Bunnings Warehouse situated on an expansive land holding of 40,380 sqm, provides excellent repositioning opportunities for industrial, retail or mixed-use usages (STCA). The opportunity is bolstered by the prime location within an established commercial/industrial precinct that includes major national and franchised brands.

Positioned along a major arterial road, the Pacific Highway, allowable land uses for the 40,380sqm site at 393 Pacific Highway include a full-line supermarket, neighbourhood shops, function facilities, warehousing, large format retail and medical centre alongside numerous other uses given the MU1 Mixed Use and E3 Productivity Support zoning.  

“Whilst construction costs elevated when compared to previous levels, utilisation of the existing warehouse infrastructure allows for significant construction efficiencies for repositioning and development. The sites central location in an established commercial precinct with direct access via a signalised intersection to the Pacific Highway, further reinforces the rare value proposition,” Mr James Wilson said.

“Strong retail demand in the main trade area is underpinned by high levels of family households and home ownership, with higher than average income levels. The 4.038ha site is the largest appropriately zoned site in the primary catchment with direct access to the Pacific Highway, making it a highly defensive land holding given the rare offering and limited supply of retail/commercial land,” Mr Ben Wilkinson said.

The site is on the eastern (southbound) side of the Pacific Highway, allowing for high visibility and exposure to passing vehicles, whilst being easily accessible to a large population.

Situated only 15km south-west of the Newcastle CBD, the Lake Macquarie region is a popular tourist destination with 1.3 million international and domestic visitors every year. The main trade area retail spending is forecast to reach $3.38 billion by 2041, growing at an average annual rate of 2.8%, supported by strong underlying population growth.

393 Pacific Highway, Belmont North is being exclusively marketed by the Colliers team of James Wilson and Ben Wilkinson through an Expressions of Interest (EOI) campaign closing on Wednesday, 6 March 2024.