Supermarket giant Aldi is continuing its expansion into the Western Australian market, after securing the site for its newest store in Bunbury.
The 10,373sqm site at 9 Edward Street was sold with development approval for a mixed use development, and will accommodate Aldi’s first store in Bunbury.
The site features four street frontages in a high profile pocket of Bunbury’s commercial centre.
CBRE’s Ben Younger and Lloyd Jenkins negotiated the sale on via an Offers to Purchase campaign.
Mr Younger said the property’s central position in WA’s second largest metropolitan area was pivotal to the sale.
“This site represented an outstanding opportunity to secure a footprint in the bustling city of Bunbury – the commercial centre of WA’s south-west region,” Mr Younger explained.
“Aldi was attracted to the site’s high profile location and extensive street frontage, with it offering a premium opportunity to expand further into the WA market.”
The site, which was formerly the home of the St John of God Hospital, offered huge versatility and potential for future use, Mr Younger added.
“With development approval already in place, this site presented a wide range of permitted uses and flexible outcomes that attracted strong interest from both offshore and local buyers.”
“Furthermore, due to the property’s central location, all civic and commercial amenities are within walking distance or short drive.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.