Big box update
Glynde does not want a Bunnings store
The Bunnings store in Gladesville will be on the corner of Victoria Road and Frank Street
The Bunnings store in Gladesville will be on the corner of Victoria Road and Frank Street
 
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Bunnings makes adjustments for Gladesville store and more stores sold to retail investors
HNN Sources
A $26 million Bunnings at Glynde (SA) has been rejected by the local council's development panel; Bunnings is proposing additional changes to its store in Gladesville (NSW); the new Shepparton store prepares to open as the old one is sold; Bunnings Colac is being sold; Queenstown (NZ) is set to get another Bunnings store; and the just-opened Grey Lynne store in New Zealand has been placed on the market.
Bunnings Glynde "knocked back"

Plans for a Bunnings store in Glynde (SA) has been rejected by the local council's development panel.

Bunnings lodged an application with Norwood, Payneham & St Peters Council to build a $26 million store on the corner of Penna Avenue and Glynburn Road. The site is located within a light industry zone.

However panel members rejected the plans, saying the store would generate heavy traffic in the surrounding streets and would not be "manufacturing on a small scale".

The decision comes about eight months after more than 1000 small business owners and residents signed a petition opposing the plan because of traffic concerns.

Amanda Price-McGregor, speaking on behalf of Capaldo Investments, which owns Mitre 10 Glynde, said the Bunnings proposal was at odds with the council's development plan. She told Adelaide Now:
It does not meet the intent of a light industry zone (and) it will have a significant, detrimental impact on the existing bulky-goods traders in the area. A large number of vehicles will avoid Glynburn Road and that will cause rat-running in the backstreets due to the easy access of roads.

Bunnings property general manager Andrew Marks said he was disappointed with the panel's decision and said the company would now "evaluate its options".
We will continue to work with authorities to bring investment and jobs to Glynde.

Bunnings' application for the site was made in April 2016 and came after Home Timber & Hardware closed its store on the corner of Magill and Glynburn roads in 2015.

Related:
Big box update: Bunnings planning SA store - HNN
Design accommodations for Bunnings Gladesville

The Bunnings store for the corner of Victoria Road and Frank Street in Gladesville (NSW) has planning approval, but the big box retailer has proposed more changes. These include greater setbacks to surrounding streets, reducing the size of the store, and vehicle access.

Bunnings said one of the main reasons for the changes was to sit the store away from the retaining walls and batters to Victoria Road and Frank Street. The previous design required excavating the retaining walls, which could affect their stability and pose risks to public roads, according to the company. The changes would increase the setbacks and reduce the risk.

The Joint Regional Planning Panel is expected to approve the proposed changes. Bunnings general manager - property, Andrew Marks told the Northern District Times that there are no firm timings on when building will begin or when the store will open.

When the big box retailer first proposed the store, some Gladesville residents were concerned about builder traffic using residential streets. They successfully called for nearby College Street to be closed to through-traffic. Ryde Council put barriers in the street in November for a trial period.

A council spokesman said the barriers will remain until Bunnings is operational for at least 12 months. The council will prepare a report on the findings of the trial period. Its traffic committee will consider the report to decide whether the barriers remain.
Shepparton store opening, old store sold

As preparations continue for the opening of the $53 million Bunnings Shepparton in regional Victoria, the company has been recruiting an additional 50 new team members to help run the store.

Bunnings Shepparton store manager Paul Connaughton said the site would have an approximate total store size of more than 18000sqm, making it the second largest in Victoria. He told Shepparton News:
It's a big investment in the region and in terms of employment for local people, with our team now 170-strong. Training is under way for our existing and new team members.

Mr Connaughton said Bunnings would be in a better position to supply commercial products for the numerous building projects in Greater Shepparton, along with a wide range of home improvement and outdoor living products for its DIY customers.
The previous Bunnings centre was bursting at the seams and the new store will make it easier than ever for customers to get what they want.

The old, soon-to-be-vacated Bunnings site has been sold to a private Brisbane-based family for $5 million, in a deal negotiated by real estate services firm CBRE.

Joseph Du Rieu from CBRE told the Financial Review it was his understanding the new owners intended to convert the warehouse into a large-format retail centre. The previous Bunnings Warehouse measured 6500sqm and stands on a site of almost 22,000sqm.
Bunnings Mackay also sold

Another Bunnings Warehouse located in South Mackay (QLD) has been purchased by listed property trust, Charter Hall Long WALE REIT for approximately $28.5 million, reflecting a yield of 5.95%.

The $830 million Long WALE property trust - its acronym refers to weighted average lease expiry - was launched in November last year through a spin-off of properties held across the Charter Hall's unlisted platform.

Charter Hall has a strong relationship with Bunnings and has an ownership stake across its managed funds platform in 34 Bunnings stores valued at about $1 billion.

Related:
Big box update: Bunnings gets bigger in Shepparton - HNN
Big box update: Mackay Bunnings up for sale - HNN
Bunnings Colac on the market

Real estate firm, CBRE Victorian Retail Investments is handling the sale of Bunnings Warehouse in Colac, western Victoria.

Located at 130-138 Bromfield Street, the 6,500sqm property is secured by a 10-year net lease to Bunnings. The big box retailer has been operating from the site for two years.

CBRE is selling the property on behalf of a local syndicate who have owned the property since developing the site in 2011. Justin Dowers from CBRE said:
Bunnings Warehouse assets have been a highly sought after investment vehicle over the past two or so years - and given the fixed rental growth of 2.75% per annum and the secure lease in place, we anticipate this property to be well received.
Proposed store for Frankton Flats, NZ

Bunnings has plans to build a big box store on a 1.62ha site at Frankton Flats in Queenstown, New Zealand.

Bunnings New Zealand general manager Jacqui Coombes told the Otago Daily Times the company had lodged a development application for a store, which would front State Highway 6.

The application said Bunnings' planned 8119sqm store would be divided into a main warehouse building, timber trade sales area, outdoor nursery and a building materials and landscape yard, along with 134 car parks.

The only other store in Queenstown of a similar size is Mitre 10 Mega, about 150m from the Bunnings site, which is 8000sqm. That opened 18 months ago.

The application said Bunnings would help develop the construction sector "and will contribute to lowering the costs of construction, which in turn will assist in delivering more affordable housing, among other projects".

The Queenstown Lakes District Council had "raised concerns" about the company occupying industrially zoned land. Its planner, however, quoted a report that "categorises [Bunnings] as, in many ways, akin to an industrial activity".

The retailer is also consulting with the NZ Transport Agency. If approved, it would be the South Island's sixth Bunnings Warehouse. The nearest to the proposed store is in Dunedin.
Grey Lynn NZ store for sale

The newly-opened Bunnings Warehouse store located in Grey Lynn, an inner suburb of Auckland, New Zealand is on the market.

Surrounded by some of the country's wealthiest suburbs, the 7207sqm site is one of the biggest private landholdings in Auckland's city fringe. Bunnings will take a new 12-year lease with eight six-year rights of renewal when a sale is settled. Whillans Realty Group managing director, Bruce Whillans, told the New Zealand Herald:
[Bunnings] chose this site because of its prominent corner position and frontage to Great North Road, which is a major arterial route connecting Auckland's inner west suburbs with the CBD.

The new store has been constructed using a steel portal frame, precast concrete walls and reinforced concrete floors to provide a building area of about 8872sqm. There are two levels of car parking with 212 bays connected by two sets of travellators and lifts to the main retail and trade areas.

The nearby suburbs are undergoing substantial development and intensification because of the city's strong population growth. Demand for closeness to the CBD by both homeowners and businesses is pushing land values higher.

Five of Auckland's 10 most affluent residential suburbs are within a 3km radius of Bunnings Grey Lynn. Over the past two years, about 300 apartments have been built within a 1km radius of the property, with a further 500 units under construction.

Related:
Big box update: Bunnings NZ makes changes to Grey Lynn store - HNN
HNN Sources


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