Victorian large format retail centre, Cranbourne Home, has announced the opening of a $40 million expansion project, anchored by hardware retailer, Masters Home Improvement.

Owned and managed by Aventus Property, the expansion will take Cranbourne Home to over 54,000sqm, comprising of 38 showrooms, and 1668 car spaces.

Masters Home Improvement will join national retailers Bunnings, JB Hi-Fi Home, Officeworks, Spotlight and The Good Guys in the retail precinct, where expansion will then continue with another 7000sqm of large format retail showrooms, and a freestanding pad site to be developed and opened next year, taking the centre to over 61,000sqm.

Aventus Property CEO, Darren Holland, said the building of additional large format retail space on this site is the culmination of five years of planning, and demonstrates their belief in and commitment to the region of Cranbourne.

“Cranbourne Home’s expanded retail offer will provide even more reason for the region’s proud locals to shop close to home. Ultimately the customer is going to be the winner.

“Masters and Bunnings provide highly competitive prices and the presence of both will make renovating even more affordable for the local community,” said Holland.

Chris Raywood, senior development manager, Masters, said, “We are proud to be working with Aventus Property and Casey Council and are excited about opening a new Masters Home Improvement store at Cranbourne Home.

The new Masters Home Improvement store’s grand opening  will be held on Saturday 10, and Sunday 11 October.