National retailer commits to 5,000sqm store as historic Woollen Mills site is transformed into major new retail destination.
Harvey Norman has confirmed its commitment to anchor a new large format retail (LFR) centre in Wangaratta, marking a major step in the regeneration of the historic Wangaratta Woollen Mills, established in 1923.
The national retailer has secured part of the former Woollen Mills land for a new 5,000 square metre store, representing the first major LFR pre‑commitment within the emerging development. Harvey Norman will relocate and expand its existing Wangaratta presence, delivering an enhanced retail offering to better serve the growing local population and surrounding regional catchment.
The broader site, to be known as Wangaratta Woolstores, is being repurposed into a contemporary large format retail precinct while retaining key elements of its heritage significance, delivering over 15,000 square metre of retail space with showroom tenancies available ranging from 600-4,000 square metres. Long recognised as a landmark, the former Woollen Mills site is set to play a new role in Wangaratta’s evolution as a key satellite city within regional Victoria.
The property was recently sold off market by Colliers Retail Middle Markets, in conjunction with local agent Garry Nash & Co Real Estate, and acquired by national developer Accord. Following the acquisition, Accord has commenced plans for a new large format retail centre and has appointed the Colliers Retail Leasing team to secure pre‑commitments from national and regional retailers for the new Wangaratta Woolstores precinct.
Nathan Brown, Manager | Retail Leasing at Colliers, said, “Harvey Norman’s commitment represents a major milestone for both the precinct and the broader Wangaratta community. This will be the first large format retail development of this scale in Wangaratta, marking an important step in elevating the city’s retail offering to align with comparable regional centres such as Shepparton.
“The Woolstores site allows Wangaratta to grow while respecting its history. Repurposing this landmark location ensures the heritage of the former Woollen Mills is retained, while delivering modern retail amenity that supports local jobs, choice and convenience.”
Jake Beckwith, Associate Director | Retail Leasing at Colliers, said, “Wangaratta’s role as a key regional service centre is a major driver behind the strength of this project. As one of regional Victoria’s established satellite cities, Wangaratta supports a broad surrounding catchment and continues to attract population growth and investment.”
Regional Victorian satellite cities are increasingly emerging as some of Australia’s strongest performing Large Format Retail (LFR) markets, underpinned by rapid population growth, constrained supply pipelines and intensifying retailer expansion. This momentum is particularly evident across key hubs such as Wangaratta, Warragul and Bacchus Marsh, where expanding trade areas, increased household formation and relative affordability are driving sustained demand.
These markets are also benefiting from evolving lifestyle trends, as well as improving infrastructure and forward investment across regional centres. Together, these factors are underpinning significant projected growth in retail expenditure and strengthening the long-term fundamentals of LFR in these locations.
“Regional satellite cities in Victoria, traditionally overlooked by major brands, are now outperforming expectations and attracting increased retailer interest as operators look to diversify beyond metropolitan constraints,” said Mr Brown.
“The Wangaratta Woolstores precinct will play a key role in meeting this demand by delivering contemporary large format retail, reducing the need for residents to travel to Shepparton, Albury and Wodonga for bulky-goods and household purchases.”
The development forms part of a new precinct structure plan and is expected to deliver a broader mix of LFR tenants, establishing a new retail destination for Wangaratta and the surrounding region. LFR expenditure within the main trade area totalled $277.5 million in 2024 and is forecast to grow to $441 million by 2036, positioning the project to directly capture a significant proportion of this future growth.
Construction is anticipated to commence mid-next year, with a grand opening planned for 2028.
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