Large Format Retail New Developments: The McMullin Approach to Retail Growth in Melbourne
In a Large format retail new developments is transforming Melbourne’s commercial landscape, offering flexible retail spaces designed for long-term stability and investment growth. These developments cater to retailers requiring spacious showroom layouts, high-traffic locations, and long-term lease security.
McMullin is a leader in large format retail new developments, with a track record of strategic land acquisition, custom-built retail spaces, and tailored tenant curation. The company has delivered highly successful retail precincts, including:
- 330 Cooper Street, Epping – A strategically positioned large-format-retail site with flexible showroom configurations.
- Wallan Junction – A high-exposure retail development at the gateway to one of Melbourne’s fastest-growing northern suburbs.
- The Saleyards, Warragul – A regional large-format-retail hub providing flexible tenancy options for diverse retailers.
Each of these projects showcases McMullin’s expertise in creating functional, high-value retail assets that benefit both retailers and investors.
Strategic Land Acquisition: The Foundation of Large-Format-Retail Success
The most critical factor in large-format-retail new development is location selection. McMullin focuses on high-growth corridors, major arterial road access, and strategic retail precincts to ensure the long-term success of its developments.
Prime Location Selection Criteria
- Proximity to Residential Growth Areas – New housing estates and urban expansion drive retail demand.
- Accessibility & Road Visibility – Developments positioned near major highways, thoroughfares, and key intersections attract strong customer foot traffic.
- Land Availability & Planning Considerations – Identifying and acquiring zoned commercial land while navigating urban growth constraints.
Case Study: Wallan Junction
Wallan Junction is a large-format-retail new development positioned on High Street and Williams Street, capturing high volumes of southbound traffic entering Wallan.
Why This Site Was Chosen
- Key gateway location, ensuring maximum exposure for retailers.
- Positioned in a rapidly growing regional hub with increasing residential demand.
- Easy road access and ample parking, supporting customer convenience.
This development highlights McMullin’s ability to secure premium locations that align with retail expansion trends and investment potential.
Custom-Built Retail Spaces: Meeting Tenant & Market Needs
McMullin’s approach to large-format-retail new development focuses on delivering purpose-built retail spaces that support long-term leasing and operational efficiency.
Key Features of McMullin’s Large-Format-Retail Developments
- Flexible showroom layouts with adaptable tenancy sizes.
- Optimised parking and loading facilities for smooth customer access.
- Strategic mix of retail tenants to drive sustained customer traffic.
- Long-term lease structures offering financial stability for landlords and tenants.
Case Study: The Saleyards, Warragul
Located in the heart of Warragul, The Saleyards is a large-format-retail new development spanning 8,000 sqm, featuring seven tenancies designed to accommodate a diverse range of retail operators.
Development Highlights
- Designed by i2C Architects, ensuring efficient and functional retail layouts
- Prime location within the town centre, attracting consistent foot traffic.
- Custom-built tenancy spaces, supporting a range of retail businesses.
This development highlights McMullin’s ability to secure premium locations that align with retail expansion trends and investment potential.
Long-Term Leasing: Stability for Retailers & Investors
One of the primary advantages of large-format-retail new development is the long-term leasing potential.
McMullin’s developments are structured to offer:
- Financial security for property owners through predictable rental income.
- Retail stability, allowing tenants to establish and expand their customer base.
- Custom-built spaces, optimised for retail operations and customer engagement.
Case Study: 330 Cooper Street, Epping
The 330 Cooper Street development features 4,750 sqm of retail space across three tenancies.
Leasing Advantages
- Secure long-term leases, ensuring tenancy stability.
- Strategic location within a major commercial precinct, supporting strong customer demand.
- Customised retail spaces, adaptable for different business requirements.
This project highlights McMullin’s focus on long-term investment viability, benefiting both landlords and tenants in the large-format-retail sector.
Curating the Right Tenant Mix for Success
Tenant mix is a critical element in large format retail new developments. The right combination of retailers creates a thriving retail ecosystem by encouraging cross-shopping opportunities, enhancing customer convenience through complementary product offerings, and avoiding direct competition that could impact individual store success.
At McMullin, tenant selection is guided by market research, customer behaviour analysis, and long-term retail viability. Each project is carefully curated to ensure a balanced mix of anchor tenants and specialty stores, creating a retail environment that supports sustained foot traffic and diverse customer needs. By prioritising retailers that complement one another, McMullin fosters an ecosystem where businesses thrive collectively, rather than competing for the same market share. Whether incorporating national brands or independent retailers, each tenant is chosen to align with the shopping patterns and expectations of the surrounding community.
Challenges & Solutions in Large Format Retail New Developments
Competition for Land & Rising Costs
Challenge: The demand for industrial and logistics real estate continues to rise, creating increased competition for land suitable for large-format-retail new development. Developers often face difficulty securing large, well-positioned parcels of land, as industrial developments are frequently prioritised due to their higher yields and increasing demand for last-mile delivery infrastructure. This competition inflates land values, making acquisition costly and reducing the availability of suitable retail-zoned land.
Solution: McMullin navigates this challenge by strategically identifying and securing land in early-stage growth areas, ensuring prime positioning before industrial developers dominate the market. By focusing on key locations within emerging residential corridors, McMullin anticipates future retail demand and invests in long-term growth opportunities. The company’s extensive experience in land negotiation and acquisition ensures that retail developments are established in high-value, high-visibility locations, supporting both investor returns and tenant success.
Zoning Restrictions & Planning Approvals
Challenge: Many potential retail development sites require rezoning or planning adjustments, leading to lengthy approval processes and regulatory hurdles. The complexity of local council regulations, land use definitions, and planning frameworks can result in project delays, impacting leasing timelines and construction schedules.
Solution: With extensive knowledge of Victoria’s planning regulations and zoning laws, McMullin works closely with local councils, government bodies, and industry stakeholders to streamline the rezoning and development approval process. The company takes a proactive approach to compliance, ensuring that all planning considerations are addressed early in the development timeline. This not only reduces approval delays but also allows projects to move forward efficiently and cost-effectively, maintaining momentum from land acquisition to tenant occupancy.
Retail Market Changes & Consumer Expectations
Challenge: The retail landscape is constantly evolving, with shifting consumer preferences, digital integration, and changing shopping behaviours. Large-format-retail developments must accommodate both traditional retail needs and new consumer trends, such as experiential shopping, click-and-collect services, and flexible store layouts. Retailers require adaptable spaces that allow them to respond to market shifts and technological advancements.
Solution: McMullin’s development model is built on flexibility, ensuring that each retail space is designed with modular layouts, adjustable tenancy configurations, and infrastructure that supports omni-channel retailing. By integrating smart design principles and long-term adaptability, McMullin enables tenants to future-proof their businesses, accommodating growth, innovation, and evolving customer expectations. Whether through multi-purpose showroom designs or spaces that support digital-first strategies, McMullin’s developments offer sustainable, future-ready retail environments.
By addressing these challenges with strategic site selection, regulatory expertise, and future-focused design, McMullin continues to lead the way in large-format-retail new development, creating retail destinations that are resilient, profitable, and positioned for long-term success.
Emerging Trends in Large-Format-Retail New Development
As consumer habits evolve and retail demands shift, large format retail new developments is adapting to incorporate new concepts that enhance the shopper experience, sustainability, and digital integration. Developers are increasingly focusing on multi-purpose retail spaces, technology-driven shopping solutions, and environmentally responsible designs to ensure their projects remain relevant in a competitive retail market.
Lifestyle & Multi-Purpose Retail Spaces
The traditional concept of large-format-retail primarily catered to bulky goods, home improvement, and furniture retailers. However, as consumer preferences shift towards convenience and experiential shopping, retail precincts are diversifying their offerings. New developments are incorporating fitness centres, specialty retailers, and food & beverage precincts to enhance customer engagement and increase dwell time. This shift towards multi-purpose retail hubs creates a more vibrant and diverse shopping experience, where consumers can visit a mix of stores, dine, and engage in leisure activities all in one destination. By offering a broader range of services, these retail spaces become community hubs, driving repeat visitation and long-term tenant stability.
Technology & Omni-Channel Retailing
The rise of digital commerce and evolving consumer expectations has transformed the way retailers engage with customers. Large-format-retail new developments are now integrating technology-driven shopping experiences to support omni-channel retailing. This includes click-and-collect services, interactive showrooms, and data-driven customer engagement strategies that bridge the gap between online and in-store experiences. Modern retail spaces must now accommodate both traditional brick-and-mortar sales and digital-first shopping experiences, ensuring that retailers can offer seamless customer interactions across multiple channels. Showroom-style layouts, where customers explore products in person before making final purchases online, are becoming a key element in large-format-retail spaces, allowing businesses to provide convenience without excessive inventory storage requirements.
Sustainable Retail Development
Sustainability is a growing priority in retail property development, with developers, tenants, and consumers all placing increased importance on eco-friendly practices. Large-format-retail new developments are increasingly designed to align with Environmental, Social, and Governance (ESG) standards, ensuring long-term sustainability and reducing environmental impact. This includes solar panel installations, energy-efficient lighting, water-saving systems, and sustainable building materials. Many developments are also incorporating green spaces, natural ventilation, and smart energy management systems to improve operational efficiency while reducing long-term costs for tenants. Sustainable retail developments not only contribute to environmental conservation but also appeal to eco-conscious consumers and businesses, positioning the retail precinct as a forward-thinking, responsible investment.
By embracing these emerging trends, large-format-retail new developments are evolving into multi-purpose, technology-driven, and sustainable commercial hubs that cater to modern retail needs and long-term market success.
Why McMullin is the Preferred Partner for Large-Format-Retail New Development
McMullin’s expertise in large-format-retail new development is defined by:
✔️ Strategic land acquisition and location planning.
✔️ Custom-built retail spaces tailored to tenant needs.
✔️ Long-term leasing solutions for financial stability.
✔️ Tenant mix strategies that enhance retail precinct success.
With proven experience in Melbourne’s retail sector, McMullin delivers high-quality, long-term retail investment opportunities that benefit retailers, investors, and the broader community.