A large format retail showroom in Preston, leased to national homewares chain Early Settler, is set to go under the hammer in late August, offering investors a foothold in one of Melbourne’s most tightly held retail precincts.
Located at Unit 5, 19-33 Murray Road, the property sits within the fully leased Northland Homemaker Centre and directly opposite Northland Shopping Centre, which recently saw a 50% stake sold for $385 million.
The asset is backed by a newly renewed six-year lease to Early Settler, which operates 67 stores nationally and generates more than $100 million in annual revenue. The lease includes fixed annual rent increases of 3%.
Cushman & Wakefield’s Daniel Wolman, George Davies and Raphael Favas are selling the property, with Mr Wolman describing the listing as “A premium opportunity to invest in a blue-chip retail location, backed by a long-term lease to a national brand and positioned directly opposite one of Melbourne’s most valuable retail centres.”
He added that “Northland Homemaker Centre has long been an incredibly successful centre with very limited vacancies. It currently holds a 100% occupancy rate.”
The property benefits from high exposure along Murray Road and proximity to major retailers including McDonald’s, Forty Winks, and Snooze.
The property will be offered for sale via public auction on Thursday, August 28, 2025, at 12:30 PM.
For further information, please contact:
- Daniel Wolman +61 412 957 839
- George Davies +61 421 799 489
- Raphael Favas +61 435 916 380
