Jones Real Estate, in conjunction with Stonebridge Property Group, has successfully sold one of regional Victoria’s most sought-after trophy assets, Bunnings Horsham, for $11.4 million, reflecting a 6.00% yield.
The on market campaign ran for just 1.5 weeks before the transaction was completed.
The property, spanning multiple titles at 19, 24–38 Wilson Street, 42 Wilson Street, 25–29 Pynsent Street, and 31 Pynsent Street in Horsham, recently secured a new five-year lease renewal with Bunnings - commencing on October 1st 2025. The lease, negotiated and secured by Jones Real Estate on behalf of its client, includes three further five-year options through to 2045, providing exceptional long-term income security.
“It’s a privilege to have worked alongside our vendor to not only secure a lucrative renewed lease from Bunnings but a subsequent sale of the asset,” said Jones Real Estate Managing Director, Paul Jones.
“The vendor is a trusted client of Jones, for whom we have transacted over $50 million of property this year alone,” he continued.
Set on a landholding of 9,592sqm* with a gross lettable area of 6,079.9sqm*, the property is zoned Commercial 1 and generates a net income of $685,837 per annum plus GST and outgoings. It enjoys significant exposure with frontages of 120m* to Wilson Street, 67m* to Pynsent Street, and 55m* to Urquhart Street.
Horsham is recognised as Victoria’s regional growth hub, with a population of around 20,000 people and over 2,100 local businesses. Supported by proactive council initiatives such as the Commercial and Industrial Land Strategy and City Urban Renewal projects, the region is attracting major private and public investment.
Key projects currently underway include the $370 million SEC renewable energy park, the $425 million Farm Frites potato processing facility, and the Western Highway intersection upgrade. These developments, combined with the city’s established strengths in health, retail, construction, and agriculture, are driving economic diversification and creating long-term employment opportunities.
Recent Bunnings sales this year demonstrate the ongoing demand for the asset class, including Bunnings Mount Gambier (SA) $27,980,000, Bunnings Clyde North (VIC) $44,000,000, and Bunnings Taree (NSW) $28,150,000.
Representing the campaign were Paul Jones, Tim Spargo, and Mimi Hoang of Jones Real Estate, alongside Kevin Tong, Rorey James, and Justin Dowers of Stonebridge Property Group.
Rorey James, Partner at Stonebridge Property Group added, “blue chip assets like this are seldom offered to the public market at present. So, it is no surprise that this campaign generated the breadth of interest it did, culminating in a strong position to take it off the table very early in the process. High-quality, securely leased assets like this continue to stand out and attract competitive bidding from local, interstate and offshore buyers,” he concluded.
For more information, please visit https://www.jonesrealestate.com.au/ or https://stonebridge.com.au/
*Approximate
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