Major Aldi-anchored convenience centre hits the market

BRIDGE Street Plaza, one of Queensland’s superior convenience retail offerings of 2020, has hit the market at 546 Bridge Street in Toowoomba.

The asset, comprising a new generation Aldi supermarket plus convenience food/services offerings, is being offered for sale via expressions of interest closing on Friday 24 April 2020.

The property is being marketed and sold by Ray White Commercial Queensland Retail Sales father and son duo Stephen and Elliot Kidd (pictured below).

Mr Stephen Kidd said the shopping centre, which  was recently expanded and refurbished, opened for trading in January 2020, and was arguably a not-to-be repeated Aldi-anchored convenience centre as Aldi are generally owner-occupiers, not tenants.

“Aldi’s superior trading performance as a food discounter will be backed by a solid non-discretionary offering of eight food and services-orientated specialty stores,” he said.

“Bridge Street Plaza’s Aldi is trading above expectations and Aldi is very excited to be an integral part in Bridge Street Plaza’s rejuvenation and re-positioning.

“The property is in the booming western growth corridor of Toowoomba and the Plaza is exposed to 20,000* vehicles every day travelling along the Warrego Highway, leading to and from western Queensland towns, the oil/gas fields and further onto Brisbane.

“Also significantly, the property is positioned on the corner of Bridge Street (Warrego Hwy) and Boundary Street, which is one of three access roads to and from Toowoomba to the wonderful new Toowoomba Second Range Crossing toll road.

“This provides quick and easy access for nearby residents to the highway to Brisbane and Dalby and vice versa. Great time savings can be achieved by travellers using the new highway.”

Mr Elliot Kidd said Toowoomba continued to experience a substantial employment and population boost, with some $13 billion of infrastructure recently completed or scheduled for construction.

“The Queensland Government has forecast the Toowoomba West population to more than double to over 30,000 residents in 2043,” he said.

“Some 30,000 residents are already housed within a 10-minute drive from Bridge Street Plaza and 1,500 new residential lots have also been approved in close proximity.

“Current tenants include Aldi as the discount anchor supported by a bakery, coffee shop, pharmacy, hair dresser and tobacco store.

“With a fully-leased income of $661,306* per annum, this highly coveted investment property is not one to be missed.”

*Approximately.