Sunbury Lifestyle Centre hits market with $1.32m income and national tenants
The Sunbury Lifestyle Centre in Melbourne’s north-west has hit the market and is expected to attract strong investor interest, with a fully leased tenant mix that includes national retailers The Good Guys, Repco, Total Tools and Petstock.
Generating a passing net operating income of about $1.32 million a year, the centre has a weighted average lease expiry of about 4.9 years, with 88 per cent of income secured by national retailers.
The property benefits from annual CPI-linked rent reviews or fixed increases of between 3 and 3.25 per cent across its leases, with additional upside through future rental reversion. In addition, no stamp duty is payable on the acquisition, providing a further attraction for investors.
Secure income backed by national tenant covenants
Colliers national director of retail middle markets Tim McIntosh says large-format retail remains one of the most sought-after retail investment sectors nationally.
“Large format retail continues to demonstrate strong resilience,” he says. “We are seeing strong depth of capital targeting assets with secure tenant covenants and rental growth, particularly in high-growth metropolitan locations where supply is constrained.”
According to research from Colliers and Stonebridge, Victorian large-format retail investment volumes surged in 2025, with capital deployment increasing 272 per cent year-on-year and almost $800 million transacted over the past three years. At the same time, new supply is forecast to fall by around 72 per cent over the next five years.
Strategic Sunbury location supports long-term growth
Positioned on Sunbury’s main arterial route and directly opposite a Bunnings Warehouse, the 5554-square-metre Sunbury centre sits on a 12,140-square-metre corner site. It benefits from exposure to more than 22,000 vehicles a day and services a trade area of more than 70,000 residents. The surrounding City of Hume is forecast to grow by 44 per cent by 2046, supporting long-term retail demand in the catchment.
Stonebridge Property Group National Partner Justin Dowers says the property’s location and tenant profile position it well for future growth.
“Sunbury Lifestyle Centre presents a rare opportunity to acquire a dominant large-format retail asset strategically positioned within one of Melbourne’s most compelling growth corridors,” he says.
“With substantial population growth, accelerating residential development and significant government infrastructure investment transforming the broader Sunbury catchment, the centre is exceptionally well placed to capture sustained growth in retail expenditure and deliver meaningful long-term rental upside.”
The Sunbury Lifestyle Centre is being offered for sale via an expressions of interest campaign closing at 3pm on Thursday, June 25, with pricing undisclosed.
