Former Bunnings site up for sale after five-year vacancy
The 1.84 hectare site is located across from Morley Galleria, which it set for $350 million development.
It's estimated that 14,000 cars pass the site each week, which perfectly positions the property for mixed use, retail or commercial uses. Across from Morley Galleria and within close proximity to the CBD. Credit: Colliers
The former Bunnings was set to close in 2018, however its life was extended after the Inglewood Bunnings was destroyed by fire.
Bunnings eventually ended the lease and vacated the site in mid-2020 and since then its only been used for COVID drive-through testing and is currently used as an election polling station.
In 2023, City of Bayswater councillors urged for better use and security of the area.
Bayswater mayor Filomena Piffaretti said it was ripe for development as it is within the city's Morley Activity Centre Plan.
'With no height restrictions at Morley's core, this site could benefit from a wide variety of land uses to meet our community's changing needs and provide much-needed residential development.' she said. Artist's impression showing a concept for the former Bunnings site. Credit: Josh Eveson
Ms Piffaretti said that the site also benefits from having direct access to public transport via the Galleria bus station, which provides easy access to Perth CBD and the new Morley train station.
The site is also within 5km of Meltham, Bayswater, Maylands, Noranda and Ashfield train stations.
Colliers head of retail middle markets Australia James Wilson, State chief executive WA Richard Cash and executive, investment services Aidan Austen are appointed to sell the development site.
Mr Cash said that the property offered a rare opportunity for a 'transformative development', positioning it as a potential flagship project in Morley's continued urban renewal.
'Importantly, future urban expansion is being strategically concentrated within the Morley Activity Centre, reinforcing the area's role as a key hub for commercial, residential and mixed-use development,' he said.
'This aligns seamlessly with the site's prime location opposite the bustling Morley Galleria Shopping Centre and its flexible zoning, positioning it as a cornerstone project in the suburb's transformation.'
PerthNow understands that a potential buyer is interested in using the site as an education precinct.
Bayswater councillor Josh Eveson shared ideas for the site on social media, saying that in order to maximise the Morley Galleria redevelopment, they must ensure development surrounding it 'evolves in tandem'.
'The next logical step? Constancy of people and customers in Morley, with delivery of an education facility and reinstating government services, providing the community with essential resources to support growth and prosperity for everyone.' he said.
'This will be one to watch.'
Expressions of interest for the site close on 2pm July 18.
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The Advertiser
05-08-2025
- The Advertiser
Sea of green as Aussie shares notch highest-ever close
Australia's share market has posted its best-ever close as confidence around company earnings and future interest rate cuts washed out global growth concerns. The S&P/ASX200 surged 106.7 points higher, up 1.23 per cent, to 8,770.4, while the broader All Ordinaries shot 106.8 points higher, or 1.20 per cent, to 9,028.8. The result pipped the top-200's previous record close of 8,757.2, but finished just six points shy of its intraday best of 8,776.4 set in mid-July. The prospect of cheaper US and Australian borrowing costs helped interest rate-sensitive sectors like financials, real estate, technology and consumer discretionary stocks lead all 11 segments higher. On top of this, Australia's prospect as a market where investors could weather uncertainty elsewhere was likely growing, Pepperstone head of research Chris Weston said. "We've got a very, very stable banking sector with excellent liquidity, so you're looking for a safe harbour in this kind of area, I think Australia ticks the right boxes" he told AAP. "Now, you're not going to get a huge amount of foreign investments looking at Australia, because you do have a scarcity of incredibly liquid assets." Tuesday's performance showed investors weren't worried about taking on risk heading into earnings season, Mr Weston said. Consumer discretionary stocks led the gains with a 1.8 per cent surge, as Bunnings owner Wesfarmers jumped 2.83 per cent to $87.52 per share and JB Hi-Fi lifted 1.8 per cent to $115.80. The financial sector surged 1.5 per cent as all big four banks' respective market caps sailed 1.4 per cent or more higher on a sea of green. NAB was the best performer, rallying 1.6 per cent to $38.80. Australia's IT sector wiped out Monday's losses with a 1.3 per cent gain, tracking with an overnight rally in US tech stocks. Hopes of cheaper borrowing costs helped real estate stocks push 1.4 per cent higher, with strong performances by Dexus, GPT Group and Charter Hall. Miners rallied for a second straight day, as continued strength in iron ore prices helped push large caps BHP, Rio Tinto and Fortescue 0.4 per cent to 0.5 per cent higher. Gold producers also pushed higher despite a slight downtick in the gold prices during the session, with Newmont Corporation (+4.1 per cent) and Ramelius Resources (+3.9 per cent) standing out. Rare earths miner Iluka Resources was the top-200's best performer with a 8.7 per cent surge after federal resources minister Madeleine King flagged setting a price floor for the commodity group to shore up investment. Also with some help from government was second-best performer Austal, the shipbuilder's shares pushing 7.9 per cent higher after securing billions in defence contracts and winning strategic asset designation by the federal government, which will make it a tough takeover target for overseas buyers. The Australian dollar is buying 64.60 US cents, edging higher than 64.41 US cents on Monday at 5pm. ON THE ASX: * The benchmark S&P/ASX200 index on Tuesday gained 106.7 points, or 1.23 per cent, to 8,770.4 * The broader All Ordinaries rose 106.8 points, or 1.20 per cent, to 9,028.8 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.60 US cents, from 64.81 US cents on Monday . * 95.17 Japanese yen, from 95.68 Japanese yen * 55.93 euro cents, from 65.02 euro cents * 48.65 British pence, from 48.80 British pence * 109.68 NZ cents, from 109.60 NZ cents Australia's share market has posted its best-ever close as confidence around company earnings and future interest rate cuts washed out global growth concerns. The S&P/ASX200 surged 106.7 points higher, up 1.23 per cent, to 8,770.4, while the broader All Ordinaries shot 106.8 points higher, or 1.20 per cent, to 9,028.8. The result pipped the top-200's previous record close of 8,757.2, but finished just six points shy of its intraday best of 8,776.4 set in mid-July. The prospect of cheaper US and Australian borrowing costs helped interest rate-sensitive sectors like financials, real estate, technology and consumer discretionary stocks lead all 11 segments higher. On top of this, Australia's prospect as a market where investors could weather uncertainty elsewhere was likely growing, Pepperstone head of research Chris Weston said. "We've got a very, very stable banking sector with excellent liquidity, so you're looking for a safe harbour in this kind of area, I think Australia ticks the right boxes" he told AAP. "Now, you're not going to get a huge amount of foreign investments looking at Australia, because you do have a scarcity of incredibly liquid assets." Tuesday's performance showed investors weren't worried about taking on risk heading into earnings season, Mr Weston said. Consumer discretionary stocks led the gains with a 1.8 per cent surge, as Bunnings owner Wesfarmers jumped 2.83 per cent to $87.52 per share and JB Hi-Fi lifted 1.8 per cent to $115.80. The financial sector surged 1.5 per cent as all big four banks' respective market caps sailed 1.4 per cent or more higher on a sea of green. NAB was the best performer, rallying 1.6 per cent to $38.80. Australia's IT sector wiped out Monday's losses with a 1.3 per cent gain, tracking with an overnight rally in US tech stocks. Hopes of cheaper borrowing costs helped real estate stocks push 1.4 per cent higher, with strong performances by Dexus, GPT Group and Charter Hall. Miners rallied for a second straight day, as continued strength in iron ore prices helped push large caps BHP, Rio Tinto and Fortescue 0.4 per cent to 0.5 per cent higher. Gold producers also pushed higher despite a slight downtick in the gold prices during the session, with Newmont Corporation (+4.1 per cent) and Ramelius Resources (+3.9 per cent) standing out. Rare earths miner Iluka Resources was the top-200's best performer with a 8.7 per cent surge after federal resources minister Madeleine King flagged setting a price floor for the commodity group to shore up investment. Also with some help from government was second-best performer Austal, the shipbuilder's shares pushing 7.9 per cent higher after securing billions in defence contracts and winning strategic asset designation by the federal government, which will make it a tough takeover target for overseas buyers. The Australian dollar is buying 64.60 US cents, edging higher than 64.41 US cents on Monday at 5pm. ON THE ASX: * The benchmark S&P/ASX200 index on Tuesday gained 106.7 points, or 1.23 per cent, to 8,770.4 * The broader All Ordinaries rose 106.8 points, or 1.20 per cent, to 9,028.8 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.60 US cents, from 64.81 US cents on Monday . * 95.17 Japanese yen, from 95.68 Japanese yen * 55.93 euro cents, from 65.02 euro cents * 48.65 British pence, from 48.80 British pence * 109.68 NZ cents, from 109.60 NZ cents Australia's share market has posted its best-ever close as confidence around company earnings and future interest rate cuts washed out global growth concerns. The S&P/ASX200 surged 106.7 points higher, up 1.23 per cent, to 8,770.4, while the broader All Ordinaries shot 106.8 points higher, or 1.20 per cent, to 9,028.8. The result pipped the top-200's previous record close of 8,757.2, but finished just six points shy of its intraday best of 8,776.4 set in mid-July. The prospect of cheaper US and Australian borrowing costs helped interest rate-sensitive sectors like financials, real estate, technology and consumer discretionary stocks lead all 11 segments higher. On top of this, Australia's prospect as a market where investors could weather uncertainty elsewhere was likely growing, Pepperstone head of research Chris Weston said. "We've got a very, very stable banking sector with excellent liquidity, so you're looking for a safe harbour in this kind of area, I think Australia ticks the right boxes" he told AAP. "Now, you're not going to get a huge amount of foreign investments looking at Australia, because you do have a scarcity of incredibly liquid assets." Tuesday's performance showed investors weren't worried about taking on risk heading into earnings season, Mr Weston said. Consumer discretionary stocks led the gains with a 1.8 per cent surge, as Bunnings owner Wesfarmers jumped 2.83 per cent to $87.52 per share and JB Hi-Fi lifted 1.8 per cent to $115.80. The financial sector surged 1.5 per cent as all big four banks' respective market caps sailed 1.4 per cent or more higher on a sea of green. NAB was the best performer, rallying 1.6 per cent to $38.80. Australia's IT sector wiped out Monday's losses with a 1.3 per cent gain, tracking with an overnight rally in US tech stocks. Hopes of cheaper borrowing costs helped real estate stocks push 1.4 per cent higher, with strong performances by Dexus, GPT Group and Charter Hall. Miners rallied for a second straight day, as continued strength in iron ore prices helped push large caps BHP, Rio Tinto and Fortescue 0.4 per cent to 0.5 per cent higher. Gold producers also pushed higher despite a slight downtick in the gold prices during the session, with Newmont Corporation (+4.1 per cent) and Ramelius Resources (+3.9 per cent) standing out. Rare earths miner Iluka Resources was the top-200's best performer with a 8.7 per cent surge after federal resources minister Madeleine King flagged setting a price floor for the commodity group to shore up investment. Also with some help from government was second-best performer Austal, the shipbuilder's shares pushing 7.9 per cent higher after securing billions in defence contracts and winning strategic asset designation by the federal government, which will make it a tough takeover target for overseas buyers. The Australian dollar is buying 64.60 US cents, edging higher than 64.41 US cents on Monday at 5pm. ON THE ASX: * The benchmark S&P/ASX200 index on Tuesday gained 106.7 points, or 1.23 per cent, to 8,770.4 * The broader All Ordinaries rose 106.8 points, or 1.20 per cent, to 9,028.8 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.60 US cents, from 64.81 US cents on Monday . * 95.17 Japanese yen, from 95.68 Japanese yen * 55.93 euro cents, from 65.02 euro cents * 48.65 British pence, from 48.80 British pence * 109.68 NZ cents, from 109.60 NZ cents Australia's share market has posted its best-ever close as confidence around company earnings and future interest rate cuts washed out global growth concerns. The S&P/ASX200 surged 106.7 points higher, up 1.23 per cent, to 8,770.4, while the broader All Ordinaries shot 106.8 points higher, or 1.20 per cent, to 9,028.8. The result pipped the top-200's previous record close of 8,757.2, but finished just six points shy of its intraday best of 8,776.4 set in mid-July. The prospect of cheaper US and Australian borrowing costs helped interest rate-sensitive sectors like financials, real estate, technology and consumer discretionary stocks lead all 11 segments higher. On top of this, Australia's prospect as a market where investors could weather uncertainty elsewhere was likely growing, Pepperstone head of research Chris Weston said. "We've got a very, very stable banking sector with excellent liquidity, so you're looking for a safe harbour in this kind of area, I think Australia ticks the right boxes" he told AAP. "Now, you're not going to get a huge amount of foreign investments looking at Australia, because you do have a scarcity of incredibly liquid assets." Tuesday's performance showed investors weren't worried about taking on risk heading into earnings season, Mr Weston said. Consumer discretionary stocks led the gains with a 1.8 per cent surge, as Bunnings owner Wesfarmers jumped 2.83 per cent to $87.52 per share and JB Hi-Fi lifted 1.8 per cent to $115.80. The financial sector surged 1.5 per cent as all big four banks' respective market caps sailed 1.4 per cent or more higher on a sea of green. NAB was the best performer, rallying 1.6 per cent to $38.80. Australia's IT sector wiped out Monday's losses with a 1.3 per cent gain, tracking with an overnight rally in US tech stocks. Hopes of cheaper borrowing costs helped real estate stocks push 1.4 per cent higher, with strong performances by Dexus, GPT Group and Charter Hall. Miners rallied for a second straight day, as continued strength in iron ore prices helped push large caps BHP, Rio Tinto and Fortescue 0.4 per cent to 0.5 per cent higher. Gold producers also pushed higher despite a slight downtick in the gold prices during the session, with Newmont Corporation (+4.1 per cent) and Ramelius Resources (+3.9 per cent) standing out. Rare earths miner Iluka Resources was the top-200's best performer with a 8.7 per cent surge after federal resources minister Madeleine King flagged setting a price floor for the commodity group to shore up investment. Also with some help from government was second-best performer Austal, the shipbuilder's shares pushing 7.9 per cent higher after securing billions in defence contracts and winning strategic asset designation by the federal government, which will make it a tough takeover target for overseas buyers. The Australian dollar is buying 64.60 US cents, edging higher than 64.41 US cents on Monday at 5pm. ON THE ASX: * The benchmark S&P/ASX200 index on Tuesday gained 106.7 points, or 1.23 per cent, to 8,770.4 * The broader All Ordinaries rose 106.8 points, or 1.20 per cent, to 9,028.8 CURRENCY SNAPSHOT: One Australian dollar buys: * 64.60 US cents, from 64.81 US cents on Monday . * 95.17 Japanese yen, from 95.68 Japanese yen * 55.93 euro cents, from 65.02 euro cents * 48.65 British pence, from 48.80 British pence * 109.68 NZ cents, from 109.60 NZ cents
The Australian
04-08-2025
- The Australian
Bunnings partners with Intellihub for nationwide solar battery rollout
The Australian Business Network Australia's most trusted brand, Bunnings, in combination with Intellihub, aim to transform and boost renewable energy in Australia. The governments believe the best way to achieve emission targets is to plonk limited-life windmills and solar panels in remote locations and then spend countless billions on transmission lines to get the power to markets. And gas power generating stations will still be required to cover times when the turbines and solar farms are not generating. As a result, Australia will have some of the highest cost power in the world. Subsidy demands will be huge. But there is a better way: generate renewable power in the cities and towns where it is consumed, and generate it next to batteries. If the Bunnings/Intellihub plan works it looks set to happen on a massive scale. Intellihub, which makes and installs smart meters, will provide the technology and installation capacity and Bunnings the customer base. At the moment, about 40 per cent of Australian rooftops have solar panels. Most were installed when it was possible to generate worthwhile revenue by 'exporting' power generated by the sun to the grid for a reasonable fee. But now that fee has become token at best. Solar panels still provide energy for dwellings and warehouses, but the economics are no longer as attractive. To make city solar work, a battery is required to store the power generated in peak sunshine times. But the battery installation market usually requires a substantial upfront fee and is dominated by a large number of small operators, some of whom have questionable qualifications. Despite government subsidies, only 8 per cent of those with rooftop solar power have batteries. Bunnings and Intellihub plan a nationwide launch of a business called Zelora which will offer Bunnings customers roof top solar panels and a battery with a fire protection unit which is connected to a smart meter. Trials are taking place in Newcastle and Sydney. By the end of the year Zelora aims to be extended into other major markets. Intellihub is expanding its existing smart meter installation workforce to install the panels, the batteries and, of course, the smart meters. Intellihub has installed three million smart meters across Australia, most of which are linked to the large energy companies like Origin, AGL and EnergyAustralia. Intellihub became a metering powerhouse when Pacific Equity Partners brought together several metering companies led by Origin's Acumen, which it sold in 2018 for just $267m. Three years later Brookfield bought 50 per cent of Intellihub. Intellihub is now worth $3bn. Bunnings' great selling point will be 10-year instalment contracts reduced by a government solar panel subsidy. The monthly instalments required on a 10-year contract will normally be offset by the power savings. While such power savings will not apply to all households, most installments will be covered and there will often be a 'profit'. And, via smart meters, households will be able to give the networks the right to drain between 50 and 60 per cent of the power in a battery when network power is short. Not everyone will want to do it, but it should be very profitable. Never before have solar, batteries and smart meters been set to be promoted in such a vigorous way through one of the country's biggest retail customer bases. The Bunnings promotion will be multiplied by increased rooftop solar/battery promotion by the large energy companies, which must be aware those who sign up with Bunnings can choose their own power company. They will want keep their customers. The competition, including from smaller groups, makes it highly likely the 40 per cent of roofs with solar panels will expand dramatically, and this will be accompanied by an even greater increase in batteries which will make the system work. Australia potentially could show the world how to make renewables achieve their aim. The current renewables thrust, including transmission lines, is not only high-cost but creating a very angry rural community. As pointed out in The Australian on Saturday, the high-cost renewables brigade want to decimate the Blue Mountains area, as well as seeking offshore windmills. Generating the power where it is used makes a great deal more sense and should trigger economic investment in capital city grids so they can take excess power. Meanwhile, the smart meter can help in using power when it is at its cheapest. Down the track, the systems being installed will be used to charge the batteries of electric cars, although, economically, the best time to do that is mid-morning or early afternoon when the sun is at its brightest and enormous amounts of power are being generated both on rooftops and in the remote locations. That time will not be suitable for those using their car during the day. Under the Intellihub/Bunnings profit-share venture Bunnings will have no access to the customer data. Of course, power companies can offer their customers lower power prices in exchange for their data and one day Bunnings may alter its arrangement with Intellihub and offer the profit-share venture customers some form of incentive to allow their data to be used. Whether it be via a power company or, in time, via Bunnings, data on power usage of individuals can signal anomalies that can indicate appliances such as a new refrigerator or pool pump may be required. This can be valuable to suppliers. Bunnings' huge customer base and brand goodwill is a unique feature of the Australian landscape. Globally, no similar organisation has entered the renewable space. Bunnings is now going to use this venture to become a major renewables player in conjunction with Intellihub. It is also moving into the car parts space against a series of dominant operators. Bunnings' joint venture to transform the rooftop-based renewables industry will be widely welcomed. It gets a different reception when it pitches the strength of its retail base against the trade building suppliers. If they were to be eliminated, Bunnings would control most of the building supply distribution in Australia and that has political implications. Solar panels and batteries are a much better application of Bunnings' power. Robert Gottliebsen Business Columnist Robert Gottliebsen has spent more than 50 years writing and commentating about business and investment in Australia. He has won the Walkley award and Australian Journalist of the Year award. He has a place in the Australian Media Hall of Fame and in 2018 was awarded a Lifetime achievement award by the Melbourne Press Club. He received an Order of Australia Medal in 2018 for services to journalism and educational governance. He is a regular commentator for The Australian.
Perth Now
01-08-2025
- Perth Now
Housing plans around new train station given the green light
Plans to transform the area around Morley train station have taken a major step forward, with the City of Bayswater endorsing the draft Morley Station Precinct Structure Plan and Scheme Amendment 100 at its latest council meeting. The endorsed documents, which aim to guide future development in the precinct, will now be submitted to the Western Australian Planning Commission and the Minister for Planning for final approval. The structure plan was developed with the State Government and co-funded by both parties, and sets out the long-term vision for the area. This includes higher-density housing, new commercial properties, and enhanced streetscapes and public spaces. The plan was shaped by community consultation and received strong support during the advertised period. The internal laneway. Credit: Supplied Bayswater mayor Filomena Piffaretti said the plan demonstrated how local government could contribute to addressing Perth's housing needs, while remaining in tune with local expectations. 'This plan supports well-located infill housing, in line with State planning priorities, while also reflecting the priorities of our community,' she said. 'It sets a clear direction for how the area around Morley station can grow. This includes higher-density housing, improved streetscapes and new commercial opportunities that support local businesses.' Morley. Credit: Supplied The structure plan provides a framework for the future use and development, identifying areas for new homes, shops, parks and streets. The scheme amendment also outlines proposed changes to zoning and land use, which will enable the vision for the project to be implemented. The city is awaiting advice from the State Government on planning for Stage 2 of the precinct.
