Stonebridge Property Group has been appointed to sell a newly renovated ALDI supermarket in Mordialloc, a prime supermarket investment secured by a brand new 10-year lease. The property will be sold via an expressions of interest campaign closing Wednesday 1 December 2021.

ALDI Mordialloc is the first supermarket in Victoria to be offered up for sale by ALDI themselves and investor demand is expected to be extremely strong as Melbourne begins to come out of lockdown into the final rush before Christmas 2021. The major supply/demand imbalance, combined with the positive shift in supermarket fundamentals and the low cost of debt are expected to drive record pricing.

Located at the ground floor of the St Lucia Apartment complex, the 1,500 square metre ALDI supermarket (total 3,450sqm site area) was constructed in 2011 and includes 65 basement car spaces on title. The supermarket also benefits from a brand new 10-year lease to ALDI, with additional options. The asset has potential to deliver rental growth with annual increases locked in per annum

According to Stonebridge Justin Dowers, who is marketing the property with Kevin Tong and Rorey James, ALDI has picked the perfect time to offer this trophy asset to the market.

“Metropolitan supermarkets are extremely rare at present and fundamentals have never been better. ALDI Mordialloc ticks all the boxes; a blue-chip supermarket, a modern building with depreciation benefits, a long 10-year lease and a prime position opposite Mordialloc train station and beach.” Mr. Dowers said.

Director Rorey James added “ALDI in Mordialloc benefits from a natural customer base from the apartments above and given the very recent refurbishment, this further highlights ALDI’s confidence in the performance in the supermarket.”

The only other stratum ALDI supermarket to sell in Victoria this year was the ALDI in Fitzroy which sold a few months earlier for close to $14 million on a yield of circa 4.5%.

“Stonebridge also marketed a stratum Woolworths Metro in Ascot Vale earlier this year and the market response was unbelievable. The property eventual sold for $19,150,000 million to an international Chinese investor on a yield 4.65%. Many of our clients are used to seeing 10-15 supermarket opportunities a year, compared to the low supply in 2021. The investor appetite for supermarkets is growing consistently and we think ALDI Mordialloc will be an extremely attractive opportunity for savvy investors seeking highly secure income with growth potential” added Mr. Tong. 

To request a copy of the Information Memorandum please contact one of the Stonebridge Property Agents Justin Dowers, Kevin Tong or Rorey James via the contact details below.