14 April 2023

Aldi's Gungahlin Square site expected to fetch more than $7 million

| Ian Bushnell
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supermarket site

Aldi’s Gungahlin Square store is one of the largest retail sites in the area. Photo: Ray White Commercial.

Aldi has put its Gungahlin Square supermarket site on the market as it prepares for a move later in the year to the nearby Gungahlin Marketplace in the town centre.

It comes with a $7 million-plus price tag, according to marketing agent Steven Shang from Ray White Commercial.

“That’s the expectation,” he said.

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Mr Shang said the 1326-square-metre site at Unit 120, 43 Hibberson Street near the light rail terminus was one of the largest retail sites in Gungahlin.

“I don’t think anything similar currently exists in the Gungahlin area,” he said.

It comes with 1461 square metres of underground car parking, or about 98 spaces.

Mr Shang said the site had to be sold as one unit and would suit another large format retailer.

It is being sold through an expression of interest process until 27 April but Mr Shang said he was already fielding a few, mostly local inquiries.

Aldi is expected to reopen in the expanded Gungahlin Marketplace in August.

A spokesperson confirmed that the current Aldi Gungahlin store would be relocated to Gungahlin Marketplace later this year.

“Gungahlin locals will be able to continue enjoying our high-quality and unbeatable value undisrupted in the brand-new store, which will feature a number of innovations, offering an enhanced shopping experience for customers,” the spokesperson said.

“All our employees at the current Gungahlin store will be offered positions at the new Gungahlin Marketplace store.

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The $60 million Gungahlin Marketplace expansion to meet the area’s growing population will also include a 1000-square-metre Asian supermarket and the largest Chemist Warehouse in Canberra.

The centre’s Stage Four development will include an overhead bridge and a new level built above Kmart and Woolworths.

The expansion is set to be completed in July 2023.

Original Article published by Ian Bushnell on Riotact.

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