Aldi’s WA debut to cause ‘ripple effect’
The much anticipated opening of one of WA’s first Aldi supermarkets is expected to have a ripple effect, as specialty tenants jostle to secure adjoining retail space, according to CBRE.
The WA debut, poised to be at the Champion Lakes Shopping Centre in Camillo, mid-2016, is part of the retailer’s wider expansion plans to roll out 20 new stores throughout the state.
To capitalise on company’s arrival, the private owner of the Westfield Road centre has created additional retail opportunities, which are being offered for lease through commercial real-estate firm, CBRE’s Richard Cash, and Adrian Morabito.
“We’re fielding strong interest from opportunistic local retailers, seeking expansion opportunities, as well as from a range of general retail, service and health and beauty retailers,” Morabito said.
“The Aldi covenant is a significant draw card, which will drive considerable foot traffic through the centre from consumers looking to tighten their monthly budget through to those interested in smarter shopping.”
The 125 Westfield Road centre is currently being refurbished to accommodate the store, with the construction of a 1200sqm supermarket box, in addition to an upgrade and expansion of the carpark to include over 200 on grade bays.
The refurbishment will also involve a total facelift of the existing centre, both internally and externally.
“The works will create approximately 400sqm of flexible space within the existing centre, with room for one or two new specialty tenants to take advantage of the traffic Aldi will inevitably bring,” Morabito said.
Morabito said Camillo represented an attractive launch pad, with the south-east Perth suburb having enjoyed strong population growth and a house price rise of 7 per cent in the past 12 months.