The BWP Trust has kicked off the establishment of a new Bunning Store in Wagga Wagga by acquiring a 4.6ha property to cater for the expected growth in the region.
The new site at 64 Pearson Street was the subject of a planning application by Bunnings in 2019 and approved by Council in December 2021. The approved development provides for a 18,385sqm store with 449 car parking spaces.
The BWP Trust has acquired the site for $7.97m (settled 5th April) and will proceed with the development at an estimated cost of $24.8m.
In its year end results, BWP identified that the existing Bunnings site at 51-53 Dobney Avenue, Ashmont would likely be suitable for alternative uses upon the lease expiry at March 2026. The existing site is 3.5ha in size and contains a 13,774sqm store, valued at $13m.
Premium Members can find all BWP Trust Articles, trading Analysis, Annual Reports and Presentations here
Related Articles
