Colliers launches the 3.2-hectare Warragul Lifestyle Centre Site offering developers a foothold within one of Victoria’s fastest-growing regional retail precincts
One of Gippsland’s most significant large format retail development opportunities has been brought to market with Colliers launching the Warragul Lifestyle Centre Site, a 31,894 sqm corner landholding in the heart of Warragul’s established bulky goods precinct.
The property located at the corner of Queen Street and North Road along with 23 June Court is being offered for sale on behalf of the Receivers, either in-one-line or as individual parcels.
The 3.2-hectare site features over 450 metres of combined frontage to Queen Street and sits within Warragul’s established large format retail precinct. Adjoining the Spotlight and Harvey Norman anchored large format retail centre, the property sits alongside other major national retailers including Bunnings Warehouse, Kmart, Harris Scarfe, Rebel Sport and Repco.
“With core retail development stock remaining scarce, opportunities within proven yet undersupplied regional catchments continue to attract strong interest from retailers, developers and owner‑occupiers. This offering provides the ability to establish within an already dominant precinct, anchored by major national brands and supported by a captive and growing trade area,” said Tim McIntosh, National Director | Retail Middle Markets.
“When you combine that with the flexibility to purchase the site in one line or individually, extensive highway exposure and concept plans already in place it becomes a platform for a range of development strategies.”
Existing concept plans prepared by Leffler Simes provide for a 13,705 sqm large format retail development while previous interest from a range of national and listed retailers further highlights the site’s appeal to future occupiers.
The offering is underpinned by strong long-term fundamentals with Warragul’s population forecast to grow from more than 23,000 residents in 2026 to almost 40,000 by 2036. Across the broader Baw Baw Shire, approximately 16,300 additional dwellings are forecast by 2046 while annual retail expenditure across the catchment is projected to increase by around 4.5 per cent per annum. Gross Regional Product has also grown from approximately $2.1 billion in 2019 to $3.31 billion in 2024, reflecting the region’s expanding economic base.
“The conversation around regional retail has changed significantly over the past five years. National occupiers are no longer simply following population growth they’re looking for locations where infrastructure, residential development and established retail amenity are already working together. Warragul sits firmly in that category,” added Will Heffernan, Executive, VIC | Retail Middle Markets.
“The fundamentals are well established, the surrounding retailers have validated the precinct and opportunities of this scale are becoming increasingly difficult to replicate as suitable regional land supply tightens.”
According to Colliers’ latest Large Format Retail Insights report, limited new supply continues to underpin Australia’s large format retail sector supporting expansion and redevelopment opportunities within established retail precincts. The Warragul Lifestyle Centre Site is being offered for sale via an Expressions of Interest campaign closing 13 August 2026.
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