Aldi Supermarkets to sell Auburn store site to developers with $15m price expectations
Buyers have the chance to own their very own Aldi, with the supermarket giant putting its Auburn site up for sale ahead of a move to a new store.
Sydney buyers have been handed the exciting opportunity to purchase their very own supermarket.
Aldi is selling a 3889sqm shopping centre in the heart of Auburn ahead of the grocery store’s move to a neighbouring site.
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The Harrow Road shop is being offered via an expressions of interest campaign with expectations that it will sell for upwards of $15m.
CoreLogic reveals the site was purchased in 2007 for $6.475m by Aldi Foods Pty Ltd.
The complex features rooftop parking for 72 cars, rear loading dock access and tenants in four other shop fronts. It has B4 Mixed-Use zoning, a floor to space ratio of 5:1 and the potential to increase the building height from 38m to 55m.
Aldi plans to cease trading from the site on November 25 to move to the neighbouring Auburn Central.
Ray White Commercial Western Sydney managing director Peter Vines, who is selling the landholding with Victor Sheu and Joseph Assaf, expects interest from a range of buyers.
“We anticipate extremely strong demand for the property given its location and the lack of stock available for developers,” Mr Vines said.
Mr Assaf said the property is located on a prime corner site and will allow the new owner to construct a mixed-use residential development.
“The site will give someone an opportunity to deliver an incredible mixed-use development supported by prime retail underneath,” Mr Assaf said.
Expressions of interest closes on Thursday November 26.
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Originally published as Aldi Supermarkets to sell Auburn store site to developers with $15m price expectations