McMullin Group leases up Epping showrooms to Anaconda, BBQs Galore

The new showrooms lie within the 120-hectare Northpoint Enterprise Park – a joint venture between the McMullin family and property developer Robert Scanlon – and across the road from Melbourne’s main wholesale fruit, vegetable and flower market.

Epping is the main commercial centre within the City of Whittlesea, one of Australia’s fastest growing municipalities.

The outer northern suburb is also home to the Northern Hospital and the Pacific Epping Shopping Centre, where the Alter family recently sold a half-stake to the Queensland Investment Corporation for almost $600 million.

A $40 million Costco wholesale supermarket is under construction and due to open later this year as is a new Mantra-operated hotel, due to open in 2019.

John Purdey, development director at McMullin Property, said Epping was booming.

“Every week we are contacted by business owners and operators who are looking at Epping as a great opportunity to position themselves in the path of the next big thing,” he said.

McMullin will retain ownership of the new showrooms in the short to medium term and they are expected to trade on about a 6 per cent yield.The showrooms were leased by CBRE large format retail leasing specialist Ryan Arrowsmith. Mr Arrowsmith said retail rents in Epping had shot up from about $120 per square metre five years ago to now average about $220 per sq m on the back of significant infrastructure and business investment and the growing local population.

“330 Cooper Street represented an opportunity for retailers to have a presence on the major thoroughfare in the fast growing northern corridor of Melbourne,” Mr Arrowsmith said.