Retail development and investment group, Spectrum Retail, has received DA approval for its $18.5 million brand new convenience retail centre in Wodonga, Victoria – set to introduce a range of drive-through food and convenience offerings to the border town while providing a significant boost to local employment.
Prominently located on a major roundabout at 196 Melbourne Road in Wodonga, the site currently houses the Murray Valley Hotel and has exposure to some 20,000 vehicles each day.
The 6,000 square metre site will comprise four individual tenancies, including a 7-Eleven service station and three drive-through Quick Service Restaurants (QSR) – Carls Jr, Oporto, and Fast Lane Coffee.
Carl’s Jr, famous for its chargrilled burgers has over 4,000 restaurants around the world and is rapidly expanding its presence in the Australian market with 35 restaurants currently trading and a target for over 160 by 2032.
Originating in Bondi and an Australian favourite for its Portuguese chicken and burgers, Oporto has grown steadily over the past decade with 176 stores nationally. This development will mark Oporto’s first location in-between Canberra and Melbourne.
As a global leader in convenience, 7-Eleven is expanding its network with over 700 locations across Australia. This multi-user retail centre will mark 7- Eleven’s third petrol station in the region.
“We are excited to secure the approvals to progress this development. There is significant community demand for convenience retail in Wodonga, and this project will help drive further investment, jobs, and choice to the local community,” said Youil Adam, Development Director of Spectrum Retail.
“Drive-through operations are witnessing unprecedented demand post- COVID, offering fast and convenient service with minimal contact. This development will also address a gap in the market, as the only fuel and food offering arriving at the border town from Melbourne.”
Designed by architects The Retail Group, the development includes a range of energy and water conservation measures.
A game-changer for local jobs in the region, this brand-new development project is set to be a significant employment generator for the local community with over 300 construction jobs and a further 200 ongoing local jobs created once the centre opens.
Spectrum Retail currently manages a development pipeline of more than
$300 million with sites across Australia’s Eastern Seaboard. It recently completed two service stations in Woy Woy on the Central Coast in New South Wales – with the Memorial Avenue Ampol selling at auction in November, 2021 for a 4.56% cap rate.
Spectrum Retail has also developed and divested several QSR projects across NSW with a range of partners including Guzman Y Gomez and Oporto.
It also developed and now manages a $17 million major multi-user QSR and fuel site at 399 Pacific Highway in Coffs Harbour, with tenants including Ampol, Hungry Jacks, and Zambrero – experiencing up to 50,000 vehicles per day on the Pacific Highway.