The Aldi supermarket at 512–544 Spencer St, West Melbourne, is for sale.
An Aldi supermarket on Melbourne CBD’s fringe has been listed with $15m-plus expectations of a good and different sale.
Commercial real estate agency Colliers is marketing the West Melbourne site.
It forms part of The Market, a recently-completed mixed‑use development comprising 195 apartments on Spencer St.
Colliers’ Tim McIntosh said supermarkets were proving to be hot property in Victoria as analysis showed the state was expected to have the lowest supermarket development pipeline on Australia’s eastern seaboard, through to 2030.
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“Supermarkets have firmly re‑established themselves as one of the most defensive and reliable retail investment classes,” Mr McIntosh said.
He added that supermarkets were usually secure long-term investments offering both good returns and capital growth, meaning owners tended to hold onto them for long time.
The West Melbourne ground‑floor strata premises has a 14-year lease with Aldi including options to extend until 2051.
Measuring 1595sq m, the supermarket includes 62 on‑title basement car parks and is just 800 metres from Melbourne’s CBD.
Mr McIntosh said the $16.35m sale of a Woolworths in Doncaster East in late 2025 showed strong demand for supermarkets, among investors.
The Aldi is part of The Market, a mixed‑use development including almost 200 apartments.
The supermarket is less than 1km from Melbourne’s CBD.
He’s also overseeing the marketing campaign for the Botanic Ridge Village shopping centre in Melbourne’s south east, which is for sale with a price guide of about $70m.
Mr McIntosh said there had been strong interest in the centre, featuring a Coles and Dan Murphy’s, from interstate, offshore and institutional buyers.
In 2023, Camberwell-based MPG Funds Management bought the West Melbourne Aldi.
The funds manager was established by the McMullin Group and the Gorman family more than two decades ago.
The Botanic Ridge Village shopping centre in Melbourne’s south east is also for sale.
The McMullin Group was founded by the late Spotless founder Ian McMullin whose company, now owned by Downer Group, offers cleaning, security, asset management and hospitality services.
Aldi West Melbourne is set to be listed for sale this week.
Expressions of interest close at 3pm on May 13.
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