Goldfields has progressed its $150-million mixed-use precinct at Kyneton, moving into its leasing phase following recent planning approval for the 62ha development.
The project is one of the largest commercial developments planned for the Macedon Ranges region in recent years.
The masterplanned retail and commercial precinct has secured a planning permit, with construction tentatively scheduled to commence in the third quarter of 2026, though a builder has yet to be named.
The Kyneton Central development at 83 Edgecombe Road would comprise large-format retail, commercial warehouses, entertainment venues, fuel stations and food outlets.
The development site is between Kyneton township and the Calder Freeway, in what the developer describes as “the new epicentre of the Macedon Ranges”.
Bunnings Group has secured the anchor tenancy with a $15-million warehouse spanning 5000sq m of net lettable area.
The hardware retailer has signed a 10-year lease and would create permanent jobs for 40 people.
The store would be the only Bunnings within a 50km radius.
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McDonald’s Australia has also secured a prominent site within the precinct.
Goldfields general manager, retail and mixed-use, Hugh Doyle, told The Urban Developer the group was weeks from announcing a raft of national and international retail brands once lease agreements were finalised.
“We’re excited to be delivering Stage 1 of this masterplanned retail and commercial precinct, with a number of LFR tenancies now available,” according to a Goldfields statement.
Doyle said the development was “in progress”, with a $60-million to $70-million first stage expected to be announced soon.
The development received Victorian Civil and Administrative Tribunal approval in 2022 after initially facing council rejection and resident concerns about the complex harming the town’s rural character and local businesses.
BCI lists warehouses, retirement village, apartments, swim school, shops, homemaker centre, carwash, petrol station, winery, brewery and fast-food restaurants as possible components of the precinct.
The masterplan includes significant residential components alongside the commercial elements.
A significant area has been allocated for a future retirement village, while multiple areas are planned for rural residential development.
Goldfields Group Holdings appointed ClarkeHopkinsClarke Architects for the project design, with Leedwell Property Victoria handling leasing.
Retail tenancies range from 352sq m to 2000sq m and would be supported by 431 carspaces, high-profile facades, large signage zones and generous shopfronts, developers said.
The precinct is within a designated growth corridor 1.9km from Kyneton Railway Station and 2.3km from the town centre.
The site has daily traffic flows exceeding 16,600 vehicles and has direct access to the Calder Freeway with Melbourne about 90km away.
Goldfields Group reports a development portfolio comprising $850 million in completed projects, $1.2 billion currently under construction and a total portfolio valued at $4 billion.
The company has projects under construction in Queensland and Victoria, including The Raleigh in Melbourne and 88 Robertson Street in Brisbane, alongside recently announced work on The Bryson, a 27-storey residential tower in Sydney’s Chatswood scheduled for completion in the fourth quarter of 2026.
