Kennards locks down site of former Masters hardware store
Kennards aims to redevelop the site through a mixed-use program with retail, fast food and self-storage. The self-storage center will occupy most of the building, while traders will occupy the spaces facing the car park. Three traders already occupy part of the building.
“Once completed, it will be a flagship for the business in Melbourne’s growing northern suburbs,” said managing director Sam Kennard.
“We will equip it with the latest generation of technology and design to provide customers with the easiest, cleanest and most secure storage experience possible.”
Kennards will occupy 9,000 square meters of the existing building with an extensive two-level self-storage facility, making it one of the company’s largest with over 12,500 square meters of leasable area and over 1,300 storage spaces.
In the Kennards plan, excess parking lots will be repurposed for drive-thru restaurants. The Roxburgh Park center will strengthen Kennards’ footprint in North Melbourne, where it has an existing facility in central Preston and is building a center in Craigieburn.
Kennards is also developing facilities in Cranbourne, Pakenham and Brunswick and purchased a storage center in Rosebud in January.
In May, the self-storage player announced it would partner with Rich Lister Tim Gurner to jointly develop a high-end residential and commercial project in Adelaide’s CBD. Kennards acquired the Adelaide Mail Center two years ago, which will be converted into self-storage, while the excess land will be developed into four residential towers and a hotel.
“Roxburgh Park is another adventurous project for our company,” Mr Kennard said.
“We have a growing list of mixed-use assets and developments. This strategy has allowed us to realize better value, superior returns and secure exceptional locations.”