HMC Capital grows Tuggerah Big Box asset

ASL listed asset manager, HMC Capital is expanding a big box retail project at Tuggerah opposite the HomeCo centre.

The proposed specialised retail premises is being developed by HMC Capital after the ASX-listed investor acquired the site from Aventus in 2021. 

Under the new DA, HMC wants to add a final $32-million large format retail (LFR) section to the 5.5ha site.

The new development on the 11 Bryant Drive site would deliver two tenancies with associated back-of-house area that, given its size, constituted a warehouse under planning policies, it said.

Specific operational details are not yet known but the tenancies will be in a productivity support-zoned area.

 HMC Capital managing director for real estate Sid Sharma manages the HomeCo Daily Needs REIT under which the project sits.

“HomeCo. Tuggerah is a leisure and lifestyle centre undergoing an expansion, adding 11,200sq m of new space on existing excess land,” he told The Urban Developer.

“This expansion will enhance the existing retail offering and provide essential last-mile and in-store retail solutions to leading national retailers looking to expand or enter into the catchment.”