Melbourne’s metropolitan retail property investment market is set for an early test in 2023 with an ALDI supermarket offered for sale.
Fitzroys’ Chris Kombi, Ervin Niyaz and Ben Liu are marketing the ALDI Supermarket property at 8-34 Gladstone Park Drive, Gladstone Park via Expressions of Interest closing Thursday 23rd March.
Price expectations are of $5 million-plus.
Located within the high-performing Gladstone Park Shopping Centre, the expansive 1,604sqm property is being offered with a secure 10-year lease plus options to global supermarket giant ALDI.
“We’re expecting strong investor interest in this rare opportunity given its price point, strong return and rental growth prospects, and secure lease to one of the world’s largest and most profitable supermarket chains,” Kombi said.
“The lease terms offer excellent potential for future rental growth.”
He added, “The high-inflation environment should be short-lived and assets purchased now on strong returns will prove to be very prudent investments”.
The property is strategically positioned opposite Woolworths supermarket and BWS and is surrounded by over 100 national and local traders, and there is outstanding parking availability with 1,100 on-site centre car parks
Niyaz said the ALDI supermarket has traded well given its location in a densely-populated residential and commercial catchment with further growth prospects. Gladstone Park Shopping Centre is centrally positioned within the established middle-ring suburb of Gladstone Park, located about 15 kilometres north west of Melbourne’s CBD, and is well supported by a sprawling local catchment with high patronage numbers.
“The City of Hume is one of the fastest-growing municipalities in Australia, with almost 250,000 residents and with projections of further significant population growth over the next 15 years,” Niyaz said. Research firm forecast.id expects the City of Hume’s population to grow to almost 395,000 by 2041.
The property offers convenient access to major arterials including Mickleham Road, Metropolitan Ring Road/Western Ring Road and Tullamarine Freeway and City Link. It is only three kilometres Melbourne Airport.