Fund manager swoops on Melbourne Aldi

Also today, we are reporting Coles in Fishermans Bend sold for $17.5 million.

MPG Funds Management has snapped up its second investment in a week – a near new Aldi, on the ground floor of Crema Corporation and Lechte Corporation’s The Marker, in West Melbourne.

The West Melbourne Aldi with 62 car parks fetched $14.415 million.

The 1595 square metre ground floor space with 62 basement car parks reaped $14.415 million – a 5.43 per cent net passing yield.

The supermarket is on a lease expiring in 14 years – or in 2051 with options.

MPG will also be able to claim depreciation benefits with the building, 512 Spencer Street, on the corner of Stanley, only recently completed.

Stonebridge’s Rorey James, Justin Dowers and Kevin Tong with Colliers’ Tim McIntosh were the agents (story continues below).

Earlier this week we reported the Camberwell based fund manager, born out of an investment house established by late Spotless founder, Ian McMullin, acquired a government-backed, strata titled office in Sunshine.

Like West Melbourne, that property is near new.

Following settlement, MPG controls assets worth nearly c$1.1 billion.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of