A former Bunnings Warehouse in Rockhampton is being offered to the market for the first time in 17 years.

Peter Tyson and Jon Tyson of Savills Retail Investments are marketing the property for sale, seeking Expressions of Interest from buyers to either occupy or reposition the 7,660 square metre building.

The planned divestment follows Bunnings’ recent relocation from the site to take up the larger former Masters store nearby, after occupation of the showroom since 2001.

Savills National Retail Director, Peter Tyson, said that the building represented a significant holding located in the heart of the region’s large format retailing precinct and offers numerous value-add possibilities for potential owner-occupiers, retailers, developers and investors.

“The building is fully air-conditioned and would be readily adapted for reuse, with options including certain retail, large format retail or bulky goods uses, vehicle and outdoor sales, industry and self-storage uses.

“The complex occupies a prominent 26,626 square metre site with enormous frontage to Yaamba Road, the local section of the Bruce Highway, which features over 9.2 million cars passing the site each year,” Peter said.

The Yaamba Road commercial precinct is bookended by the new Bunnings Warehouse to the north and the 58,000 square metre Stockland Rockhampton Shopping Centre to the south, and is also home to the Red Hill Homemaker Centre, as well as various national retailers including Harvey Norman, Amart, Petbarn and Spotlight.

“It is interesting to note a long list of national retailers not present in the Rockhampton market and trade area analysis reveals an enormous available catchment extending east to Yeppoon and west to Emerald and beyond, with almost 230,000 people forecast to reach over 250,000 people by 2031,” Peter said.

The property will be offered for sale via Expressions of Interest, closing 26 July 2018.