Toowoomba shopping centre with new Aldi hits market

A TOOWOOMBA shopping centre featuring a newly-opened Aldi store has hit the market through an expressions of interest sale.

The opening of Aldi at the Bridge St Plaza in Torrington.

A TOOWOOMBA shopping centre featuring a recently-opened Aldi supermarket has hit the market through an expressions of interest sale.

The Bridge Street Plaza in Torrington has been listed for sale through Ray White Commercial.

The centre’s fully-leased net income has been estimated at $660,000 a year, although there are several tenancies that need to be filled.

Aldi opened in the centre in January, a major coup for the property which had struggled to the find a proper anchor tenant since IGA left several years prior.

Ray White retail sales agent Stephen Kidd said the plaza was earning significant interest from interstate investors, especially in light of the coronavirus outbreak.

“I think investors are looking for security of income, and something that trades strongly, so in this instance, I think Aldi is doing their job,” he said.

“It’s a national tenant, so it’s the quality of the income stream, and at the moment with the virus, supermarkets outperforming a lot of tenants whose demand has diminished.

“So far, we’ve have multiple inspections from Asian investors, syndicators out of Melbourne and Perth. The interest has been good.

“The owners here have provided a very solid rental package for Aldi, which makes it a good purchase proposition for the owner.”

Mr Kidd said it was rare to see an Aldi based inside a shopping centre.

“It’s a new-generation Aldi, so it’s a larger supermarket,” he said.

“Aldi tend to want to own their own properties, so it’s unique in that sense.”

The expressions of interest period closes on May 8.

For more information, call Stephen Kidd on 0413 550 474 or Elliot Kidd on 0407 696 738.

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