Kaufland, part of the vast Black group from Germany, one of the world’s largest retailer, has paid $25 million, the sprawling Le Cornu site on Anzac Highway, Forestville.
Schwartz, the operation is also the owner of discount chain Lidl, has been trying to gain a foothold in Australia’s $ 90 billion-plus supermarket industry for the past year, and the Adelaide, within 3 kilometers away from the city, is its first and flagship store.
Buyers can expect to go in for a whole new and great experience with the purchase of the country huge, warehouse-style stores up to 20,000 sq. ft. in comparison to conventional Coles and Woolworths stores, which are typically less than a fifth of the size.
Artist’s impression of the supermarket “Kaufland” from Anzac Hwy, Forestville.
The Le Cornu site is approximately 36,000 square meters (8.9 acres) and was for sale for about two years, its sheer size that a deal to-date, said a Adelaide commercial property agent.
Buying land promises a whole new experience in the retail industry in Adelaide with a range of over 60,000 products, including many well-known brands.
“It is more likely to have a Costco approach with a wide range of products, including food and white-goods”, an Adelaide retail expert said.
“This will be a destination shopping experience.”
Purchase of land, the just opened its first hypermarket in Germany in the year 1984, has more than 1230 branches in Germany, the Czech Republic, Poland and other non-English speaking, the Central-European speaking countries and has more than 150,000 employees.
German # – dealer purchase of land adds #food #dish, open #mall #Romanian branches https://t.co/rEljRRwBTH— Consult Cormack (@consult Cormack) 4. August 2017
Sales agent, CBRE’s Ben heritage, who mediated the Anzac Highway deal, welcomed the agreement.
“After two years of marketing and we achieve a fantastic result for the Le Cornu family. It is a prominent landmark of the site and is good news for Adelaide and South Australia,” he said.
The country of purchase, with headquarters in the small town of Neckarsulm in southwestern Germany, did not respond to the Advertiser to comment on requests, but its Australian website confirms its intention.
“Buying the country has an ambitious Australian investment and development program. Therefore, we’re always looking to appropriate and suitable locations”, it says, and highlights site needs 15,000 to 20,000 square meters.
The new Kaufland store is at the former Le Cornu site, off Anzac Highway.
The sale was a joint venture between Adelaide commercial real estate heavyweights CBRE and JLL.
The Le Cornu family, your retail business on Anzac Highway, since 1973, has been gradually selling its assets, including the nearby 7500 sqm site on the Shahin family for US $ 6 million two years ago — since Patriarch, Lance le Cornu died in the year 2013.
The Forestville act, which is a self-service furniture warehouse and air conditioned showroom in the last few years, is on the site of the former Chrysler car plant.
The North Adelaide Le Cornu store has been closed since then, in 1988, and its site, owned by the Makris group, will be empty.
Originally set to be published as a New player, Aldi