Big Box Retail

New Zealand investor Cook Property has paid $58.6 million for a Bunnings Warehouse under construction in Queensland amid strong local and international demand for the popular investments.

Economic stability and property market strength is attracting investors to Tasmania’s commercial property sector, with one tasty offering attracting plenty of attention.

As states emerge from lockdowns and Australia prepares to open its borders, bullish investors are clambering for prized assets. Burgess Rawson expects this sentiment to drive its November portfolio auction skywards.

Super heavyweights UniSuper and Cbus Property are making a $2.2bn investment in the Gold Coast’s Pacific Fair and Sydney’s Macquarie Centre.

Discount department stores such as Kmart and Target have boosted sales and customer loyalty during the pandemic and will be rewarded as eastern states emerge from lockdown. As a result, investors are jumping on store listings.

A syndicate has paid $28.55 million for an unbuilt Bunnings while another warehouse under construction has hit the market amid growing demand for the hotly-contested investments.

Private investors and major property players are increasingly targeting Bunnings properties, as the hardware retailer’s strong performance during the coronavirus pandemic cements its investment appeal.

A Bunnings that’s about to open its doors has hit the market amid hot buyer demand for the popular investments, in a rare opportunity to buy one of the warehouses for less than $25 million.

Investors are targeting ‘big box’ retail centres as Australians spruce up their homes during the coronavirus pandemic and housing boom.