National furniture brand to open first Geelong store
National furniture and home living brand James Lane has taken a lease at the Primewest Geelong Gate Centre in Corio.
A national furniture and home living brand is opening its first regional Victorian store after securing a lease at a homemaker centre in Geelong’s north.
James Lane is moving in to the Primewest Geelong Gate Centre at 470-490 Princes Highway, Corio.
The centre is a single-level, large format retail development at the main northern entrance to Geelong, immediately off the Princes Freeway.
James Lane operates 29 stores across Victoria, New South Wales, Queensland and South Australia.
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Leedwell Property partner Chris Parry brokered the transaction, which was facilitated off-market with multiple retailers vying for the coveted space.
The space was previously occupied by Harpers Bathrooms.
This move is in response to the increasing demand from retail brands to establish a presence in Geelong, driven by the region’s huge growth.
“The heightened demand for retail spaces, coupled with the limited available stock, sets favourable conditions for new supply and large format retail development in the region,” Mr Parry said.
A large format retail development is set to open at 50 School Rd, Corio, next year. Agents are seeking tenants for the project, just off the Princes Highway.
“We had three or four other groups that were interested. We had formal proposals from at least two other groups, so there’s a fair bit of demand.”
“There is no vacancy in any of the large format retail centres in Geelong at the moment.
Geelong has had significant population growth fuelling house construction all around the city, which has increased the demand for large format retail floorspace, coupled with a change of shopping habits post pandemic.
“We’re seeing that retail sales have been going back to bricks and mortar as opposed to online, so not only have you got the increased population, but the shopping habits that people have changed and that has a compounding effect.”
A large format retail development is set to open at 50 School Rd, Corio, next year. Agents are seeking tenants for the project, just off the Princes Highway.
Constructed circa 2010, Geelong Gate has a diverse tenant mix with a gross lettable area of 19,534sq m, including two fast-food pad sites.
Anchor brands include Freedom Furniture, Fantastic Furniture, Chemist Warehouse, BCF and Derrimut Gym.
Mr Parry said retailers want highly exposed locations, although box sizes vary as the market has diversified.
Anything from 300sq m up to 3000sq m now.
A new large format retail complex is being developed at a site at 50 School Rd, Corio.
Geelong commercial agency Gartland is handling the leasing campaign for the three showrooms offering floorplans between 1204sq m and 1500sq m, with the option of combining two showrooms.
A large format retail development is set to open at 50 School Rd, Corio, next year. Agents are seeking tenants for the project, just off the Princes Highway.
Gartland commercial leasing agent Adam Farrell said the completion was expected in the third quarter of 2024.
“We’ve had some good inquiry by some large furniture chains,” Mr Farrell said.
“A lot of it we expect to go to national retailers. One established furniture company has expressed a fair bit of interest on it.”
The showrooms are next to Winter & Taylor Panels Shop and opposite Harvey Norman, just off the Princes Highway at Corio.
“We’re just tapping in to the existing bulky goods centre.”
