Retail Development Site in AVJennings Master Planned Community Comes to Market

The Retail Development Site will be a key focal point of the Warnervale residential estate which is being developed by AVJennings, a community developer that has been building homes since 1932.

The 9,914sqm Warnervale Retail Development site will provide investors the option to develop a small convenience centre, serving the everyday food, grocery and convenience-oriented needs of local residents, whilst also allowing for childcare and medical.

With 120m frontage to the main thoroughfare of Warnervale Road, the site is at the entrance of the AVJennings township, which will accommodate over 500 residential lots with the potential for additional dwellings.
The site is listed exclusively with the Colliers team of James Wilson and Ben Wilkinson with price expectations of over $500/sqm.

“Developers will be attracted to the opportunity to deliver convenience retail in the rapidly growing Newcastle region. Proximity to employment and infrastructure will drive demand with Warnervale Train Station being only 300m away and numerous schools in close proximity,” Mr Wilson said.

“With the MTA population expected to reach 22,625 persons by 2036, reflecting an annual growth rate of 2.7 per cent, investors will be provided the opportunity to develop a much needed convenience-oriented centre under strategic E1 Local Centre Zoning,” Mr Wilkinson added.

The sites position within one of the region’s emerging growth corridors has led to the catchment being under-serviced, presenting an ideal site for an opportunistic investor. Expenditure in the catchment is projected to grow from an estimated $206 million in 2021 to $430 million by 2036, at an average annual growth rate of 5%.

Numerous developments are slated for the region over the coming years, including residential communities and retirement accommodation, further growing the catchment’s population and driving retail spend.
Warnervale Retail Development Site is for sale via an Expressions of Interest campaign, closing at 2.00pm (AEST) on Wednesday, 20 September 2023.