Satterley secures Home HQ Busselton in major WA Large Format Retail transaction
Australia’s second largest residential property developer Satterley has acquired Home HQ Busselton from Arise Developments in what is believed to be Western Australia’s largest ever Large Format Retail transaction.
With a forecast completion value of $125 million, the acquisition marks another significant step in Satterley’s diversification into long-term commercial property ownership.
Home HQ Busselton is a 24-hectare site in Busselton’s high growth southern corridor, approximately two kilometres from the town centre. Once complete, it will deliver a 34,000 sqm Large Format Retail centre, supported by an adjacent Bunnings site that is being sold separately.
Combined, the approved development exceeds 48,500 sqm of gross lettable area and is more than 90 per cent pre-committed to national retailers.
The acquisition supports Satterley’s strategy of growing its portfolio of income-producing commercial assets alongside its nationally recognised residential communities.
Satterley founder and Chief Executive Nigel Satterley said, “Commercial property is an increasingly important pillar of Satterley’s long-term strategy. Home HQ Busselton gives us a high-quality institutional asset in one of Western Australia’s fastest growing regional markets, with exceptional tenant demand and strong long-term investment fundamentals.”
“This acquisition reflects our confidence in regional WA, with Busselton showing strong forecast population growth and continued strong retail fundamentals.”
Satterley’s recently appointed Head of Commercial, Bruce McCully, who is overseeing the project, said Home HQ Busselton represented another important milestone in the company’s expanding commercial property portfolio.
“Large Format Retail is a sector we are actively looking to grow, and Home HQ Busselton is an exceptional asset with a high-quality tenancy mix, a strategic regional location and strong long-term investment fundamentals,” Mr McCully said.
“The project demonstrates the strength of demand for well-located, institutional grade Large Format Retail assets.
“The acquisition builds on our existing Large Format Retail centre in Ellenbrook and our future Large Format Retail developments at Alkimos and South Central, reflecting Satterley’s continued investment in high-quality commercial assets that support growing communities across Western Australia.”
The asset has been purchased from Subiaco-based Arise Developments, which has worked extensively with the Large Format Retail Association, retailers and local and state authorities for several years to establish Home HQ Busselton and progress the project to the commencement of built-form construction.
Arise Developments will remain closely involved as Development Manager through to completion, providing continuity and ensuring the project benefits from the team’s detailed knowledge of the asset.
Retailers are expected to begin opening from late 2027, with major national retailers including Harvey Norman, The Good Guys, JB Hi-Fi, Rebel, BCF, Harris Scarfe, RSEA, Kitchen Warehouse, Adairs, Pet Stock and Snooze already secured. The remaining leasing opportunities are being marketed by Vend Property.
As part of the development, Home HQ Busselton will also incorporate a specialist microgrid, providing a resilient and future-ready energy solution to support the centre’s long-term operational performance while enabling greater energy efficiency and sustainability.
“Our commercial portfolio is continuing to evolve alongside our residential business,” Mr Satterley said. “We see enormous potential in Busselton’s future. This investment allows us to participate in that growth while creating a high-quality commercial asset that will serve the region for decades to come.”
