Nine Kaufland properties hit the market
28 February 2020, Written by Business News Australia
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:
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.
Business News Australia
Author: Business News Australia