Sunbury Showrooms sold to Melbourne-based Kinglake Group in an off-market transaction circa $19.5m brokered by Burgess Rawson’s Zomart He.

Melbourne-based Kinglake Group has acquired the fully-leased Sunbury Showrooms in an off-market transaction believed to be circa $19.5 million brokered by Burgess Rawson’s Zomart He.

The high-profile retail centre features 143 car spaces and is anchored by The Good Guys, alongside a strong national tenant mix including Repco, Total Tools, Petstock, and Worklocker.

Strategically positioned on a 12,140 sqm corner site with 221 metres of frontage, the asset sits on the main thoroughfare into Sunbury, a rapidly expanding Melbourne growth corridor. With the area’s population projected to grow by 4.85% per annum through to 2041 adding more than 60,000 new residents the property is well-placed for sustained retail spending growth and increasing investor demand.

Kinglake Group Director Jamie Allen said the national tenant profile and secure income stream made Sunbury Showrooms an attractive acquisition.

“With limited supply and strong demand from occupiers, this asset aligns with our strategy of investing in high-growth, tightly held retail precincts,’ Mr Allen said.

The centre is directly opposite Bunnings Warehouse in the Sunbury Large Format Retail (LFR) precinct, reinforcing its status as a prime retail hub.

Mr He highlighted the transaction as a testament to the strength of the Sunbury retail market and the increasing appeal of assets in Melbourne’s high-growth corridors.

“Large format retail assets continue to attract a diverse range of investors due to their robust performance and strong tenant covenants, solidifying their place as a cornerstone of commercial property portfolios,’ he said.

Commo