This article is from the Australian Property Journal archive
MORE than $15 million is expected for a soon-to-vacated Aldi supermarket in Sydney’s west, which could potentially make way for a tower rising as high as 55 metres.
Aldi is about to finish fitting-out their new home just down the road at booming Auburn Central, owned by Elanor Funds Management, where it will begin trading on 26th November.
That is the same day the expressions of interest campaign for 6-10 Harrow Rd closes. Ray White Commercial’s Peter Vines, Victor Sheu and Joseph Assaf are handling enquiries.
The property is set on 3,889 sqm of land, which has B4 mixed use zoning and a floor space ratio of 5:1. Height is also proposed to increase from 38 to 55 metres.
Not far away are both Auburn Central as well as the train station.
Vines said extremely strong demand is anticipated given its location and the lack of stock available for developers.
Aldi finishes up at the site on 25th November.
At its new home, Elanor’s repositioning of the Woolworths-anchored Auburn Central following the departure of Big W is nearly complete. Leases have also been secured with Asian supermarket Tong Li and a mini major.
Elanor acquired Auburn Central in 2015 for $68 million. The centre was constructed in 2004 and forms part of a town centre that has 450 apartments.
