This article is from the Australian Property Journal archive
BEDDING retailer Forty Winks has leased a 989 sqm store at Home Central Shepparton.
The lease increases Forty Winks’ locations to 13,700 homemaker centres nationally. The retailer joins Fantastic Furniture, Plush, Retra-vision and BCF. Shepparton is located approximately 181km north-east of Melbourne.
CBRE’s Scott Littler negotiated the deal on behalf of owner Valad Property Group at $125 per sqm net. Forty Winks has taken a five year lease with two five year options.
Littler said Forty Winks’ commitment to the centre highlighted a trend amongst regional town retailers to look beyond typical store locations.
“There is a changing attitude towards the traditional location of main street strips in the centre of a regional towns. The benefits of moving to a homemaker centre were too hard for Forty Winks to refuse.
“Shepparton has been through difficult times of late with flooding in the North, but healthy leasing activity is a true sign of a rebuilding community,” he concluded.
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