Supermarket

A supermarket in suburban Melbourne has changed hands for an eye-watering 2.57% yield as retail assets continue to draw buyers, defying worries over the sector.

Wesfarmers has announced it intends to demerge its Coles grocery division to create a new top 30 company on the ASX.

German supermarket giant Kauf­land will leverage its considerable global muscle to introduce a market-leading fresh food and grocery offer in Australia that could threaten the dominance of supermarket leaders Woolworths and Coles, as well as newer players like Aldi and Costco.

US retail giant Costco has thrown down the gauntlet to its competitors in bulk purchasing by setting up a new distribution facility in Sydney’s western suburbs that could handle online orders in future.

Property buyers in Tasmania have clamoured for homes in prestigious Sandy Bay for years, and now those same investors can buy the suburb’s supermarket.

US discount giant Costco has vowed to open at least one new store in Australia every year as it eyes a bigger slice of the retail market.

More Asian and institutional cash is expected to flow to the Geelong region as major property investors seek to reap the rewards of strong population growth and higher retail spending. 

Grocery giant Coles got the opposite of their ‘down, down’ campaign as Torquay Village Shopping Centre sells for $35 million.

Up to 280 apartments are proposed for the Dee Why Woolworths site meaning there are now almost 1000 units approved or being built in the heart of the suburb.