Aldi sells ex-supermarket to hardware chain
Sydney Tools has snapped up a prominent ex-Aldi store in Brisbane’s south east Capalaba.
The hardware retailer is paying the local arm of the German supermarket chain $6.5 million ex-GST, to occupy.
On 4266 square metres zoned PC Principal at 35-37 Mount Cotton Road, on the north west corner of Moreton Bay, near Capalaba Central, it contains 71 car parks.
The internal area measures 1266 sqm.
Aldi quit last year for a replacement store in the suburb, at the corner of Redland Bay and Mount Cotton roads.
New chapter for supermarket
Ten offers came in for 35-37 Mount Cotton Rd – a mix of developers, investors and owner occupiers from the healthcare, retail, office and hospitality sectors.
Sydney Tools is Australia’s second biggest trade tools retailer, on an expansion plan since 2020 (story continues below).
Colliers’ Harry Dever and Hunter Higgins represented Aldi Australia.
Development hotspot
Shayher Group paid Dexus $148.5m for Capalaba Central a decade ago.
In 2022, that landlord with Redland Investment Corporation won Redland City Council approval to revamp the bulk of the two hectare holding with a commercial precinct, library, community hall and additional commercial space.
The end value following development there is expected to circle $250m.
Capalaba is about 20 kilometres from the CBD.
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