Big box update

South Australia-based area manager for Bunnings, Justine Burrage recently confirmed the big box retailer's plan to enter the Spencer Gulf region. She said that Port Augusta had been chosen as it was centrally located in the region, servicing Port Pirie, Whyalla and the surrounding areas. Ms Burrage told The Recorder newspaper:

We believe the site is well positioned in a central location that will give local residents in the Spencer Gulf region access to a wide range of home and lifestyle products.

The closest Bunnings stores to Port Pirie are located in Munno Para West, approximately 204kms, which means a significant drive for locals. Ms Burrage also said:

A development application has been lodged for a new Bunnings store in Port Augusta to be located on the corner of the Stuart Highway and Daw Street. If approved, the store would represent an investment of more than $10 million...

Spanning more than 5000 square metres, features would include the main retail area, an outdoor nursery, a timber and building materials yard and around 140 car parks.

The plans are under assessment with public notification closing on August 4.

Once planning is approved, the company will need building approval before they can progress. Bunnings said it is not yet able to confirm when the new store may be open at this stage.

The proposed store will be the 22nd location in South Australia.

Related: A proposal to build a Bunnings outlet along the Mid North Highway at Port Augusta is under assessment.

Big box update: Proposed Bunnings store for Port Augusta - HNN Flash #54, July 2021

Toowoomba extension

The first two stages are either completed or under way, according to The Chronicle.

RPS Group town planner Harry Connolly said the only element left to start was the planned drive-through eatery. In his letter to the Toowoomba Regional Council in June, he said Bunnings needed more time to find the right tenant for the project.

Completion is dependent upon tenant demand, noting also that careful selection of the right tenants is important to the building design and requirements. The extension is sought in order to provide time for the tenant identification and selection process and for the building works.

Council senior planner Rodney O'Brien approved the request, giving the applicant until late 2023 to make substantial headway on the final stage. He wrote:

Assessment of the request has found that the remaining stages of development that have not lapsed under the approval are generally consistent with the current policies applying to the land and it is recommended to approve the request to extend the currency period for a further two years.

Munno Para West store

Real estate company Colliers has been appointed to sell the Bunnings Warehouse premises in Munno Para West (SA) on behalf of the Cromwell Direct Property Fund, which is managed by Cromwell Funds Management. Colliers' James Wilson said:

The Bunnings Warehouse is secured by a long term and attractive net lease structure, on a strategic and substantial land holding within Adelaide's booming urban growth corridor.

The 16,936sqm (approx.) facility is situated on a 4.11ha site and is leased to Bunnings on a 12-year lease expiring in August 2028, with options to extend to 2064, and currently generates annual net operating income of $2.075 million. Chris Maher from Colliers said:

The strong transactions recorded for freestanding Bunnings Warehouse assets and proven resilience through COVID-19 is driving continued investor demand, as buyers seek to deploy pent-up capital and take advantage of the low interest rate environment...

Bunnings Munno Para West is located around 38km north of the Adelaide CBD and about 13km south of Gawler, the gateway to the Barossa wine region. Colliers' Alistair Mackie said:

This substantial land holding is strategically located within the booming northern growth corridor of Adelaide, forecast to benefit from significant population growth and infrastructure spending.

Bunnings Munno Para West ... sits within the heart of Playford, Adelaide's fastest and largest growing Local Council Area. By virtue of land locking with coastline to the west, foothills to the east and metropolitan Adelaide to the south, the Playford growth corridor is optimally placed to service the state's population growth.

The Northern Expressway connects with the State Government's recently completed $850million Northern Connector, creating a major arterial link road between Adelaide's regional north and the CBD. This will significantly increase traffic volumes and exposure along the Northern Expressway, directly benefiting Bunnings Munno Para West.

Sources: The Recorder, The Chronicle, Colliers and The Adelaide Advertiser