This article is from the Australian Property Journal archive
WESFARMERS has unveiled a $600 million plan to acquire and develop 18 Bunnings Warehouses bulky good centres in New South Wales
Bunnings has secured sites for 12 new Bunnings Warehouses at Alexandria, Balgowlah, Batemans Bay, Castle Hill, West Gosford, Greenacre, Rouse Hill, Tamworth, Marsden Park, Wallsend, Smithfield, and East Gardens.
Development approvals are already in place for Alexandria, Castle Hill, Rouse Hill and Tamworth with construction starting soon. Additionally, three new Bunnings Warehouses are currently under construction and will open soon, in Seven Hills (October 2010), Port Stephens (December 2010) and Chatswood (February 2011). An existing business has been secured at Lithgow and plans are also underway to open two new trade centres at St Peters and Cromer.
The rollout will include building Australia’s biggest home improvement store at Alexandria in inner Sydney. Bunnings has bought the 2.6 hectare property from CSR Limited.
The site was a former glass factory which CSR acquired as part of its acquisition of Pilkington in June 2007. CSR ceased glass operations on the site in 2009 and continues to manufacture float glass from its two other facilities at Ingleburn in Sydney and Dandenong in Melbourne.
Bunnings plans to build a flagship 20,000 sqm store on the site which is expected to open in mid 2012.
NSW premier Kristina Keneally said the new sites are expected to support about 3,900 construction jobs, 2,700 retail jobs, and more than $600 million in state investment.
“Importantly, at least five of these sites will be located outside of the greater Sydney area, providing employment and economic stimulus to regional and rural economies. This is a major vote of confidence in the NSW planning system, the NSW employment market, and the NSW economy,” she added.
Since July 2009, Bunnings has opened stores in Armidale, Wagga Wagga, Narellan, Morriset and Cowra, and trade centres in Tuggerah and Unanderra.
Bunnings managing director, John Gillam said the latest investment accelerates Bunnings’ growth in the state and is part of an ongoing nationwide network expansion strategy.
Australian Property Journal
