This article is from the Australian Property Journal archive
AUTOMATIVE parts retailer Repco has leased a 1,475 sqm bulky goods property in Geelong North.
CBRE’s Scott Littler negotiated the lease at 470 Melbourne Rd, on behalf of a private Melbourne investor.
Repco has taken out a 10-year lease for a 1,100 sqm showroom and 375 sqm of warehouse space.
Littler said Repco was attracted to the site because of its high profile location with highway frontage that offers premium branding on Melbourne Rd.
“Its close proximity to the new Bunnings warehouse, as well as other automotive retail and service providers was also a huge drawcard,” he added.
The premises was most recently occupied by Sydney’s Furniture, however still contains the fit out from the glory days when it was occupied by Freedom Furniture. However, the building will benefit from major capital works and undergo a fresh makeover for Repco’s tenure.
Exego Group, which owns Repco, was recently purchased by US firm Genuine Parts Company for approximately $AU950 million.
Property Review
