SWAN Hill’s proverbial Golden Mile is set to take on a new face with three key sites being sold to a local investor for $2.8 million.
Ray White Swan Hill Real Estate principal and owner Cameron Smits said the new owners were keen to use the space to further advance the retail sector of the Heart of the Murray.
“The sale incorporated the three buildings from 155-167 Campbell Street which includes the old Dick Smith building, Rockmans and The Reject Shop ” he said.
“While Rockmans and The Reject Shop have two secure leases in place, the new owner is hoping to entice a new retailer into the Dick Smith site and is flexible about how the space could be utilised.”
The site incorporates a total area of 5100 square metres and includes the large 72 space car park at the rear of the buildings.
“The owners are keen to accommodate retailers needs,” Mr Smits said.
“Right now it is a 450 square-metre shop but there is potential to increase or decrease that to meet the right tenant’s needs.
“The owner is a local and passionate about investing locally and would like to assist a new business to move forward.”
Mr Smits also ended speculation about the sites being used as a Kmart store saying they were not large enough to accommodate a Kmart which requires an average space of 4000 square metres for the store alone.
“While there is a lot of potential in future for the site, right now the owner is focusing on securing a great new retailer to take a place in the prime location,” he said.
Swan Hill’s retail sector is experiencing movement at all ends of the strip with the Priceline store being available for lease and Janine Kent confirming that Amcal Chemist will be evolving into a Priceline Pharmacy. This is a highly anticipated change and Mrs Kent said the pharmacy would make an official announcement soon.
262 Campbell Street is about to become the new home of Rumbalara Aged Care Service and the old Sports First building has interested parties according to Cameron Smits.
“There is much to look forward to with interest rates low, it’s a good time for investors,” he said.
“We are big advocates of buying local and try to support it and we hope the community gets behind it too because by supporting our local investors we can all grow together.”
Ray White co-owner Fiona Hawley said there were other lease offers being considered on central commercial properties with exciting times ahead.
“There has been a shift in the way society shops and it has impacted on both landlords and retailers,” she said.
“They both need to be creative and work together a lot more now to ensure the sector thrives.”
