German supermarket giant Kaufland speculated to be buying former Queensland Bunnings warehouse for $19.7 million

Global supermarket giant Kaufland appears to be continuing to snare prominent Australian sites – this time in Burleigh Heads on Queensland’s Gold Coast.

Kaufland is speculated to be paying BWP Trust $19.7 million for the ex-Bunnings outlet, on 3.3 hectares of land.

Last year, Kaufland paid BWP $16.4 million for another former hardware outlet in Melbourne’s Dandenong South.

It is reported the business, based in Germany, has options to acquire two more former Bunnings stores in Melbourne: in Oakleigh South and Epping. Elsewhere in this city, Kaufland is mooted to be buying a 3.5 hectare block in Chirnside Park from another vendor, having contracted to buy another site, in Altona.

The Courier Mail is reporting Kaufland’s Burleigh Heads acquisition.

The supermarket acquired its first Australian site in Adelaide 10 months ago – the ex-Le Cornu furniture outlet on the Anzac Highway in Forestville.

Kaufland is reportedly seeking sites between 2 and 2.5 hectares to accommodate warehouses up to 20,000 square metres.

Promoted as a “hypermarket”, Kaufland, and another global supermarket player Lidl, are owned by Schwarz Group, which claims on its website to be the world’s fourth largest retailer.

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au

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