Shepparton Home has been bought by a property investment group.
Photo by
Megan Fisher
One of Shepparton’s retail shopping precincts on Benalla Rd has been bought by a Sydney-based property investment group.
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Shepparton Home shopping precinct has been bought by Blackfox Property Group for $27.55 million, in one of the biggest large format retail transactions in regional Victoria in recent years.
The 13,661 sq m centre, at 290 Benalla Rd, is fully leased to 10 national retailers, including Fantastic Furniture, Pillow Talk and Nick Scali.
Shepparton Home is home to 10 national retailers.
Photo by
Megan Fisher
It also occupies a 3ha site within Shepparton’s largest residential growth corridor.
The purchase is Blackfox’s second significant investment in Greater Shepparton, after it bought the Shepparton Retail Hub on High St in 2024.
That site is home to national and chain retailers including Officeworks, Red Rooster and Metcash’s The Bottle-O Warehouse.
Blackfox Property Group bought the Shepparton Retail Hub in 2024.
Speaking of Blackfox’s Shepparton Home purchase, the property group’s managing director Greg Edelmuth said the group was “genuinely excited to be deepening our presence in Shepparton”.
“We see real potential here — not just in the strength of the local economy and population growth, but in the opportunity to improve key assets that serve the whole community,” he said.
“These fundamentals align with our strategy to grow a portfolio of resilient, well-located assets in key growth corridors.
“Our focus is on making sure Shepparton Home continues to thrive for tenants, shoppers and the broader community.
“We look forward to working with local stakeholders to make this centre even better.”
The sale, managed by global real estate company Jones Lang LaSalle, attracted eight formal offers and settled on a 6.7 per cent yield.
Agents Tom Noonan and Stuart Taylor managed the sale.
Mr Taylor said it was one of the most fiercely contested regional large format retail sales in years.
“The centre benefits from its position in Shepparton’s largest residential growth corridor, enhancing its long-term appeal,” he said.
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