Nine Kaufland properties hit the market

28 February 2020, Written by Business News Australia

Nine Kaufland properties hit the market

A portfolio of properties owned by Kaufland have come onto the market just over a month after the German hypermarket chain announced its shock exit from Australia.

Colliers International has been appointed to sell the nine retail, industrial, and mixed-use sites across Victoria, Queensland and South Australia as part of the company's withdrawal from the Australian market.

The sites have already attracted significant attention from potential buyers, both Australian and offshore, from institutions and developers to owner-occupiers and syndicates.

"This is an unprecedented opportunity to secure a national pipeline of prime development sites, all of which are strategically located in growth areas that offer substantial upside," says Colliers International managing director of capital markets John Marasco.

"Rarely do we see such a significant value-add opportunity come to market in Australia."

The portfolio of Kaufland's existing Australian investments comprises four sites in Victoria, three in Queensland and two in South Australia:

  • 177-207 Reedy Creek Rd, Burleigh Heads, QLD: A large mixed-use development site of 32,850sqm, a scale that is rarely offered in such a prime location.
  • 177-189 Morayfield Rd, Morayfield, QLD: Morayfield Village boasts some of the most high-profile retailers in the retail heart of Brisbane's northern growth corridor. It offers a large site area of 17,020sqm, with a total GLA of 6,939sqm and 260 car parks.
  • 159-177 Progress Rd, Richlands, QLD: A 3.1ha (31,190sqm) District Centre zoned development site in Brisbane's surging western corridor.
  • 10 Anzac Hwy, Forestville, SA: A landmark 36,000sqm site on the doorstep of the Adelaide CBD within the City of Unley, already cleared of improvements.
  • 250B Churchill Rd, Prospect, SA: A substantial 23,699sqm site, already cleared and remediated, that offers development opportunity with potential for an integrated mixed-use development.
  • 266 Maroondah Hwy, Chirnside Park, VIC: One of the last remaining infill sites of scale in Melbourne's east. Located within the centre of Chirnside Park, the 39,146sqm site has flexible Commercial 1 zoning allowing for the development of a mixed-use commercial centre and complementary residential uses.
  • 1-5 Gladstone Road, Dandenong, VIC: A large 30,607sqm site, one of the last
  • remaining infill sites of scale in Melbourne's South East.
  • 592-694 High Street, Epping, VIC: A high profile, 31,470sqm site on a busy main street, within the retail core of a very high order activity centre an estimated 30,000-plus vehicles pass the site daily.
  • 1126 Centre Road, Oakleigh South, VIC: A large, high profile corner site measuring 44,013sqm, a rare scale offering in a core infill industrial precinct in Melbourne's east.

Kaufland announced its exit from the Australian market in January 2020, saying it intends to focus on its European operations.

The group was previously planning to shake up Australia's retail market with 11 stores in Victoria to be supported by a 110,000sqm purpose-built distribution centre, along with openings in Adelaide, Sydney and Brisbane. 

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Business News Australia

Author: Business News Australia





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