23 Oct Aldi Stores
Back in 2003 we took over a portfolio that included about 6000 sqm of land at the corners of Aerodrome Rd, Second Ave and Parker St, in Maroochydore. At the time there were some fairly rundown buildings on the site. We had our ups and downs, but for the most part these remained fully let.
We started planning for the redevelopment of the land and at one time had some serious interest from the Queensland Government for Transport and Main Roads. The owners realised they really had no appetite for redevelopment.
Around 2009 we were engaged by Aldi Stores to help find a site in Maroochydore, which to that point had eluded them.
Whilst there were some other opportunities that came to light, Aldi eventually settled on the Aerodrome Rd site we were managing.
I understand the supermarket they built is one of their best.
For about a year we managed some specialty shop tenants Aldi had in a number of their centres across the north side of Brisbane. We were never really comfortable in this role for Aldi and were not concerned to give it up.