News: Bunnings’ Biggest Opens Its Doors
The biggest Bunnings Warehouse in the southern hemisphere opened in the outer eastern Melbourne suburb of Vermont South last month. The $25 million Warehouse, which features bays stretching for almost three kms, covers 16,550 sq m including a 9,858 sq m main warehouse, 3,155 sq m timber drive through, a 3,540 sq m nursery and parking spaces for more than 500 cars. The warehouse which has 20% more skus than other Bunnings stores, was created following feedback from customers and includes a new outdoor living department, The Fifth Room, which showcases outdoor furniture, water features, garden lighting and landscaping. Other features of the store include a big lighting section, plumbing showroom, a new steel range, a huge toolshop, a special order department, DIY workshop, indoor/outdoor café and a Kids DIY area. The expanded stock range includes DIY ducted vacuuming systems, outdoor kitchens, pizza ovens, fencing, spa pools, flat pack kitchens, modular storage range, cut to measure timber blinds and a laser key cutting service. In an effort to appeal to female customers, the lighting is softer, aisles are wider and there is plenty of navigational signage including Bus Stop signage in the aisles, portico signage and entry banners.
Bunnings is continuing its roll-out of Warehouses and Series 3000 stores across Australia. The latest Series 3000 store opened in the Victorian satellite town of Sunbury. Work is about to start on a Warehouse in the Melbourne suburb of Box Hill, which is, curiously, only 10 minutes drive from the Vermont site. The store will take over the site previously occupied by television production company, Crawford Productions. According to Peter Davis from Bunnings, the site was purchased in an effort to capture customers from Melbourne’s nearby, affluent eastern suburbs.
Bunnings increased its profits by 11.8% to $36.1 million, in results released for the year to June 30. The Bunnings Warehouse Property Trust said ongoing growth opportunities were expected to come from the rollout of Bunnings Warehouses as well as value-adding upgrades to properties already in the trust portfolio. Total income was $50.6 million, up 13.8% from last year’s $44.5 million, which, according to directors, was due to a combination of additional income received from new properties, property upgrades, programmed rental escalations and seven market rent reviews. At June 30 this year, the trust had total assets of $627.2 million, with unitholders’ equity of $434.6 million and total liabilities of $192.6 million.