Big box update
Bunnings loses bid to change access plans to new Wagga site
Neighbouring properties in Wollongong (NSW) owned by Bunnings have been sold and the two largest Bunnings stores in New Zealand are on the market
Thu Nov 16 2023
Wagga City councillors recently voted to reject Bunnings' proposed amendment to its $24.9 million development on the corner of the Sturt and Olympic Highways in Wagga Wagga (NSW), reports The Daily Advertiser.
The current approved plans for the 18,000sqm site allow customers to enter the site from Pearson Street and the Olympic Highway. But while customers may exit onto the Olympic Highway, council ruled light vehicles could not exit from Pearson Street when the development application (DA) was approved, citing "road safety and efficiency reasons".
Bunnings asked council to reconsider, to allow light vehicles to conduct left-turns only onto Pearson Street. It also called for an extension to the median strip along Pearson Street, which would inhibit drivers from turning right at the location. (See more at the link.)
Bunnings development proposal back before Wagga Council - November 2023Councillors rejected that option seven to one.
While councillors agreed more had to be done to fix looming traffic issues when the new Bunnings store is built, there was disagreement on the best way forward. Tabling an amendment to defer the decision, Cr Richard Foley sought to allow more time for consultation, but Cr Rod Kendall argued the request should be put to bed.
The meeting heard the council had received correspondence from Bunnings raising the prospect that if councillors deferred the amendment, the company would be open to negotiations. However, general manager Peter Thompson argued councillors could reject rather than defer Bunnings' DA request, a point backed by Cr Kendall.
Cr Kendall argued it was important "the traffic issues be addressed holistically once and for all before [the new Bunnings] is built". He said with traffic issues seemingly the "only sticking point", rejecting the request would clear the way for another solution to be found.
In its resolution against Bunnings' request, councillors also called on Mr Thompson to contact Bunnings and request discussions between it, council and Traffic for NSW. Cr Georgie Davies, who supported deferring, was the only councillor to vote against the final motion.
Wollongong
Sydney-based property development group, Level 33 has purchased adjoining sites in Wollongong (NSW) owned by Bunnings.
Level 33 was the successful purchaser of the former site of the North Wollongong Bunnings store, located at 73-75 Gipps Street. That 2.73-hectare site was listed for sale earlier this year, and sold for $40 million.
The Gipps Street site was sold by Perth-based company BWP Management Limited, the property trust which owns a number of Bunnings sites throughout Australia and is itself part owned by Bunnings' parent company Wesfarmers.
The property was bought by the Trust in 2003 for $12 million. In mid-2022, Bunnings indicated they would be vacating the store when the lease expired in early 2023.
Bunnings in North Wollongong to close - HNN Flash, September 2022BWP Management Limited managing director Mark Scatena said the Trust identified the best use for the site was high density residential redevelopment.
More recently, the 5152sqm site at 60-72 and 74 Flinders Street was for sale via an Expressions of Interest campaign. Level 33 purchased this site for an undisclosed price. CoreLogic records show the site was owned by Bunnings Properties Pty Ltd, according to the Illawarra Mercury.
Level 33 managing director Eddy Haddad told the Illawarra Mercury the plan had always been to purchase both sites. Mr Haddad said they had purchased the latest property to "connect it to our current site", in accordance with their plans for the Bunnings site, which were to create "a mixed use village".
It will expand on what we've currently got there... To build off the community we're looking to build on Gipps Street.
New Zealand
Bunnings' biggest store in New Zealand, located in Westgate and seen as one of Auckland's fastest growing regions, is for sale. Bunnings' second-largest New Zealand store in New Lynn, is also for sale.
Westgate
Located at 21-33 Fred Taylor Drive, Westgate, the building has 16,001sqm of gross lettable area on a 20,724sqm freehold site. The main retail area spans 9278sqm, while there is a 1876sqm timber yard, 1093sqm building materials yard and a 1133sqm crop cover nursery. It is zoned Business-Mixed Use under the Auckland Unitary Plan.
Surrounded by a host of national-brand tenants, the property is part of a prominent commercial development, which includes West Auckland's major retail and commercial hub and occupies a pivotal position in the heart of Westgate.
As an emerging metropolitan centre, it is set to become the primary destination for the surrounding community.
Next to the property, Universal Homes is actively developing 1400 homes with additional parks and walkways. Just 1km north a major development from the Hugh Green Group will cover approximately 256ha and include up to 8000 homes.
Directly north, the Sonn Group is embarking on the development of their 27ha site, where they plan to construct 1800 terraced homes and apartments.
New Lynn
The Bunnings store in New Lynn is situated on a 2.2ha site. The property features a net lettable area of 10,722sqm made up of a large-format store and associated facilities including retail, timber yard, garden area, cafe, offices, canopies and inward goods area.
The store services the high-growth catchment of New Lynn and was purpose-built for hardware retailer in 2014.
Bunnings New Lynn is being offered via an international expressions of interest campaign, closing on December 6, unless sold prior.
