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Shepparton Marketplace is a single-level, enclosed sub-regional shopping centre located at 110 Benalla Road in Shepparton, Victoria, with a gross leasable area of 16,532 square metres. Opened in the early 1990s and acquired by Sim Lian-Metro Capital in 2022 for $88.1 million at a 6.25% yield, it serves as a key retail destination in the Greater Shepparton region, which has a population of approximately 68,900 as of 2025 and a gross regional product of $4.99 billion.
The centre is anchored by Big W discount department store and Woolworths supermarket, complemented by 41 specialty stores offering a mix of everyday fashion, lifestyle services, homewares, fresh food, and takeaway options. Notable tenants include Cotton On, Bakers Delight, Boost Juice, Chemist Discount Centre, and Commonwealth Bank. Occupancy levels are estimated at around 95%, supported by stable regional demand, though specific footfall data is limited; annual visitor traffic likely exceeds 2 million based on similar sub-regional centres.
Rent levels average $350-450 per square metre net annually, reflecting regional affordability compared to metropolitan areas.
Accessibility is strong via Benalla Road, with ample parking, but public transport options are moderate. The tenant mix emphasizes convenience retail, benefiting from a demographic profile that includes families, agricultural workers, and a diverse community with 20-40% business involvement from multicultural backgrounds.
Market position is solid as a discount-focused alternative to the larger Forum Shepparton in the CBD, but faces challenges from economic fluctuations in agriculture and online retail competition.
Leasing advantages include long-term anchor leases with annual increases and a catchment area of over 160,000 within a 30-minute drive, though drawbacks involve potential vacancy risks in non-essential categories amid 1.0% regional vacancy rates in housing indicating tight supply but retail saturation in fashion.
Overall, it provides balanced performance for lessees targeting value-oriented consumers, with operational quality maintained through recent ownership investments.
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Hours of Operation
Hours
| Monday | 09:00 AM — 05:30 PM |
| Tuesday | 09:00 AM — 05:30 PM |
| Wednesday | 09:00 AM — 05:30 PM |
| Thursday | 09:00 AM — 06:00 PM |
| Friday | 09:00 AM — 09:00 PM |
| Saturday | 09:00 AM — 05:00 PM |
| Sunday | 10:00 AM — 04:00 PM |
Hours may vary on public holidays. Check with individual stores for specific holiday schedules.
Insights
Demographics and Catchment Area
The Greater Shepparton region, serviced by Shepparton Marketplace, has a population of 68,873 in 2025, with steady growth driven by agriculture, manufacturing, and services.
The primary trade area includes over 160,000 residents within a 30-minute drive, featuring a median age of 38, household income around $1,200 weekly, and a diverse demographic with significant multicultural influences, including humanitarian settlers contributing to 20-40% of local businesses. This supports strong demand for affordable retail, though seasonal agricultural employment can affect spending patterns. Footfall benefits from local loyalty, estimated at 2-3 million annual visitors, but broader catchment expansion is limited by competition from nearby regional hubs like Bendigo.
Tenant Mix and Occupancy
Shepparton Marketplace features a convenience-oriented tenant mix with anchors Big W and Woolworths occupying about 60% of GLA, alongside 41 specialties in categories like apparel (Cotton On, Supre), health (Chemist Discount Centre), food (Bakers Delight, Boost Juice), and services (Commonwealth Bank). Occupancy stands at approximately 95%, bolstered by long-term leases and low turnover, with average rents of $350-450 psm net. Strengths include stable anchor performance and diverse everyday offerings, but weaknesses arise in weaker fashion categories due to online shifts, potentially pressuring smaller tenants. Operational quality is high with modern facilities, though aging elements from 1990s build may require upkeep.
Competition and Market Risks
Primary competition includes the larger Forum Shepparton (GLA ~30,000 sqm) in the CBD, anchored by Myer and Target, drawing higher-end shoppers with mixed-use vibrancy, and smaller centres like Kmart Shepparton. This sub-regional centre differentiates via discount focus but risks market share erosion from Forum's 18% food and broader non-food capture. Regional factors such as agricultural dependency expose risks to footfall during downturns, with GRP growth at 4.5% in 2024 tempered by retail saturation in apparel. Accessibility via major roads is a plus, but limited public transit and proximity to highways may hinder broader appeal. Lessees face moderate rent escalation risks amid stable but non-explosive occupancy.
Building Details
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Shepparton, VIC
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City Snapshot
Shepparton, VIC
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