A KEY corner site in Leongatha’s shopping centre, fully leased and returning around $400,000 a year is being offered for sale for the first time in almost 80 years.
Featuring the long-term K-Hub tenant, in a complex of retail shops, food and beverage outlets and medical, consulting and service industry offices, plus carparking, the property is being offered by Expression of Interest and expected to attract prices in the $4.6m to $4.8m range.
The modern, two level retail and commercial complex of 3144sqm includes the K-hub retail store, seven retail shops plus first floor office space and a combined total area of 3794sqm corner freehold, across six titles including a 34-space carpark
Expressions of interest close on Thursday, August 21.
Raoul Holderhead, representing the selling agents Burgess Rawson from CBRE and Alex Scott & Staff said the sale of the property represented a truly unique opportunity for an investor.
“It would be without doubt the best situated commercial property in town, located between the three supermarkets Woolworths, Michael’s IGA and Aldi, opposite the banks and on the most prominent corner in the town,” said Mr Holderhead.
“The fact that it’s being offered for sale for the first time in 79 years speaks volumes, not only about its importance to the town, but also the commitment made to Leongatha by the Hodges family over many years.
“We’re delighted to be able to bring this property to market and have no reservations whatsoever about promoting it as an absolute cracker of an opportunity.”
Lyne Hodges, representing the family owners of the property, said they had a genuine reason for selling at this time, but had nothing but praise for the tenants and happy memories of a long association with business in Leongatha.
“On a personal note, Blair and I redeveloped the building in the late 80s and because Blair had such a passion for Leongatha, he wanted to do something special there.
“But it’s been an excellent property over the years, easy to maintain with great support coming from TS Constructions as required and with the people at K Hub and the other tenants wonderful to deal with.
“It has been a great investment and the only reason we are selling is because we are looking to diversify.
“But, no, it’s been a wonderful association over such a long period of time, in a terrific location, in a great town.”
Property details
Details about the property located on the corner of McCartin Street and Peart Street in Leongatha.
This prime CBD retail complex anchored by K-Hub, boasts an impeccable rent and income history. Features include:
- K-hub Retail Freehold Complex
- Superb Tenant / Income History
- First Time Offered in 79 Years
This opportunity has the following key investment highlights:
- Modern 3144sqm two-level retail/commercial complex including K-Hub, 7 retail shops plus first floor office.
- Combined 3794sqm freehold corner site across 6 titles
- Important 34 on-site car spaces
- Prime CBD location with 200 metres, triple street frontage and exposure
- Proven established tenants throughout on 3 & 5 year leases plus further options
- Mixed CPI & fixed rent reviews
- Majority net leases with tenants paying usual outgoings
- Long proven tenancy mix comprising national retailer (K-Hub), food offering, Govt-linked tenants plus Dry Cleaning business in occupation circa 40 years
- Central position amongst ALDI, Woolworths, IGA and opposite CBA / NAB etc
- Significant taxation depreciation
- Leongatha: busy retail and commercial capital of South Gippsland Council, major dairy region and educational epicentre, only 78km from metro Melbourne, trade catchment 15,000+
- Potential 50% stamp duty saving
- Net Income: circa $400,000pa + GST
For Sale by Expressions of Interest, closing 3pm AEST Thursday, August 21, 2025
Please contact the exclusively appointed sales team for more information:
At Burgess Rawson from CBRE, Mark Foster 0475 454 431, Raoul Holderhead 0413 860 304 and Beau Coulter 0413 839 898.
At Alex Scott & Staff Andrew Newton 0402 940 320 and Emily Hillberg 0422 622 299.