MAB Brings Newly Built Melbourne Convenience and Showroom Centre to Market

Large-format retail asset in Clyde North offers long-term income growth 

Melbourne developer MAB is selling a recently constructed convenience retail and large-format retail asset in one of Victoria’s fastest-growing corridors. 

Located in Clyde North, approximately 51 kilometres southeast of the Melbourne CBD, the Clyde North Convenience and Showroom Centre spans a 1.16-hecare site with a total gross lettable area of 4,213sqm across two parcels.  

The assets are brand-new, completed in 2024, and form part of the highly successful Element Park precinct, home to tenants such as Bunnings and ALDI. The two properties are being offered in one line or as two separate assets. 

Clyde North Convenience Centre located at 680 Berwick-Cranbourne Road comprises an EG Ampol and Red Rooster service centre on a significant landholding of 4,288sqm, secured by a 12-year net lease with fixed 2.5 per cent annual increases.  

Clyde North Showroom Centre contains a 3,833sqm showroom complex on a 7,361sqm site, anchored by leading national retailers Total Tools and National Tiles, both on 10-year terms with fixed annual rent increases of 3 per cent. 

The combined assets provide an estimated fully let net income of $1.28 million per annum, with all tenants responsible for outgoings excluding land tax, offering strong income security with 100 per cent of tenants under fixed percentage annual rental increases. 

JLL’s Stuart Taylor and Tom Noonan have been exclusively appointed to manage the sale campaign on behalf of MAB, via an Expressions of Interest campaign. 

Stuart Taylor, Senior Director JLL said the high-profile centre offers an exceptional tenancy mix and long  
10-year WALE, providing compelling income security. 

“Clyde North Convenience and Showroom centre will be the first brand new Large Format Retail (LFR) investment offered to the market since late 2022, so we expect significant interest from predominately high net worth investors attracted to this secure asset class.” 

Jamie Buxton, MAB’s General Manager of Commercial and Industrial, said the investment asset showcases the strong appetite from national tenants to operate within the precinct.  

“The investment asset has been tailored for long-term owners looking for a passive investment with a diversified income stream of showroom and convenience tenants” he said. 

Prominently positioned on the corner of Berwick-Cranbourne Road and Selenium Way, the centre offers direct access and significant exposure to passing traffic, less than 100 metres from the Thompsons Road intersection. It neighbours Bunnings Warehouse and sits at the entrance to Clyde North’s major commercial and large-format retail precinct. 

Mr Noonan said the property’s location within the City of Casey offered substantial long-term growth potential. 

“City of Casey is Victoria’s fastest growing municipality and forecast to grow by more than 45 per cent to reach a population of over half a million by 2036,” he said.  

“The area is supported by ongoing infrastructure investment and remains one of the most active residential development corridors in Australia.” 

Clyde North Convenience and Showroom Centre is being offered for sale individually or in one line via Public Expressions of Interest closing Thursday, 11 September 2025 at 3:00pm (AEDT).