Martin Strode sells Fitzroy Aldi

SMA Projects was recently permitted to build a nine storey hotel at Windsor station.

Martin Strode is understood to be banking close to $14 million for a supermarket on the ground floor of a near-new Fitzroy apartment complex.

The 1402 square metre property with 49 car parks at 247 Johnston Street is tenanted to Aldi which was paying annual rent of $640,000 in 2019, at the start of its tenancy.

With options the supermarket can stay until 2049.

Teska Carson’s Adrian Boutsakis and Larry Takis closed an expressions of interest campaign last week last week.

The purchaser is a local private investor (story continues below).

“It just goes to show well leased, bullet-proof assets will always sell at a sharp yield,” the agents said.

The space forms part of an eight level, c155 unit residential based project which replaced the c1910 Lyric Theatre.

On Tuesday we reported Mr Strode, who directs SMA Projects, won permission to replace airspace over train tracks beside Windsor station with a nine storey hotel.

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Marc Pallisco

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