Horsham Gateway Centre sale pending; Pizza Capers awaits tenant

Horsham Gateway Centre in April 2013, just before it was due to open.
Horsham Gateway Centre in April 2013, just before it was due to open.

HORSHAM Gateway Centre remains on the market.

CBRE Victorian Retail Investments listed the centre and land – on the corner of Wilson Street and Park Drive – for sale in late September.

The centre houses Target and five other businesses including Kawaii Kids and Snap Fitness.

The listing said the centre included surplus permit-approved development land of 2020 square metres, providing an opportunity to expand the centre.

It also noted the centre had exceptional income security, with more than 70 per cent of income secured via a 15-year lease to ASX-listed Wesfarmers.

The centre has a fully leased net income of $1,205,000 a year.

CBRE national director Mark Wizel said there had been good interest in the property, but was unable to comment further at this stage.

Meanwhile, the Pizza Capers store at the centre is still without a tenant.

Shop fit-out was completed years ago but the store has never opened.

Retail Food Group owns the Pizza Capers franchise.

The group’s public relations manager Amy Stalinescu said it maintained a detailed selection process that ensured any prospective franchise partner met the right criteria and was suitable for the store.

“Pizza Capers is currently conducting its due diligence for this store and due to this is unable to discuss any further detail regarding the matter at this time,” she said.

Gateway Property Developments announced plans to construct Horsham Gateway Centre on a former gas and fuel site in Wilson Street in 2011. 

The $12-million development created more than 250 jobs during its construction phase. 

Target – the centre’s anchor store – opened in May 2013.

Horsham Target Country's 13 staff moved from their Firebrace Street store to the centre, and an additional 70 Wimmera people joined Target’s staff.