Aldi amasses $2 billion property portfolio as it introduces stores across Australia
German discount supermarket Aldi has amassed a property portfolio worth close to $2 billion in Australia, providing it with security of tenure and significant capital gains.
Aldi is one of the country’s biggest retailers, with $10 billion in annual sales from its 469 stores.
Since opening its first store in Australia in 2001, land titles searches show it has amassed 365 titles, and the company is using mixed-use development to secure sites in the inner suburbs of Melbourne and Sydney.
Aldi’s strategy is similar to that of major competitors Coles and Woolworths, which both have sophisticated property development arms. Sydney Monring Herald – Read more…