A high-traffic site in Capalaba has sold for $6.5 million, marking a record-breaking deal for a vacant supermarket in Queensland, as national retailer Sydney Tools secures the former ALDI building for its growing showroom network.
Local Spotlight on Capalaba
Located at 35–37 Mount Cotton Road, about 20 kilometres southeast of Brisbane, the former ALDI site sits in Capalaba’s busy commercial precinct. The single-level building spans 1,266 square metres on a 4,266-square-metre block, with 71 car spaces and flexible zoning for various commercial uses.
The sale highlights growing demand for established commercial sites in high-traffic areas, where redevelopment is costly. Its corner position on Moreton Bay and Mount Cotton roads offers strong visibility and access for tradespeople, DIYers, and local businesses in Redland City.
Record-Setting Sale Reflects Shifting Market
Sydney Tools secured the Capalaba site through a competitive Colliers Queensland campaign, setting a Queensland record for a vacant supermarket at $5,134 per square metre of lettable space and $1,523 per square metre of land.
Colliers agents Harry Dever and Hunter Higgins managed the sale for ALDI Australia, attracting over 140 enquiries and 17 bids from sectors like retail, childcare and healthcare. Sydney Tools secured the site as an owner-occupier, expanding its network of community-focused stores.
Demand Driven by Development Challenges
Strong competition for the Capalaba site reflects a trend toward built properties, as rising construction costs and limited development-ready stock drive demand for move-in-ready commercial spaces.
With flexible PC Principal zoning, the Capalaba site offered multiple uses, but Sydney Tools’ plan for a showroom suited local demand. Industry sources say national brands are targeting suburban centres like Capalaba for cost-effective sites needing minimal upgrades.
A Win for Local Business Activity
Sydney Tools is expected to boost trade and add to Capalaba’s role as a key retail hub in Redland City. With over $83 million in unmet buyer interest, agents say the demand reflects strong long-term confidence in the area’s potential.
While the ALDI brand has moved on from the site, its reuse by another major retailer ensures the building will remain a commercial asset to the community, contributing to jobs, foot traffic, and convenient services.
Published 5-February-2025
Photo Credit: Google Maps
