Aldi buys Umina site

Two adjoining vacant sites in Trafalgar Ave, Umina Beach, have been purchased for $4 million by major supermarket chain Aldi.

Ettalong real estate agency Laing and Simmons was responsible for the sale of the adjoining sites.

The two sites cover approximately 4000 sq metres in total and the sale price reflects a rate of $1000 per sq metre.

Laing and Simmons Central Coast director Mr Ray Dearlove said the sale represented one of the largest sales in the area in the last few years.

"There are limited opportunities to purchase vacant land in the Umina Beach area, or even across the Peninsula, particularly of this size," Mr Dearlove said.

"As a result we were able to achieve a price per square metre that compares very favourably with the rest of the greater Sydney market.

"The Umina Beach and Ettalong Beach markets are quite buoyant at the moment, both from a commercial and residential perspective."

Peninsula Chamber of Commerce president Mr Matthew Wales has welcomed the news.

"This is further evidence that major players see a bright future for the Umina Beach retail centre," Mr Wales said.

"We understand that Aldi's have purchased the vacant land and adjoining shops in Trafalgar Ave opposite Sassy's Cafe.

"The site has had a long and colourful history with numerous mixed-use developments being approved in recent years.

"However, Aldi's decision is welcome in that it will bring vigorous competition on the back of Woolworths commitment build a new store on the G&B Mitre 10 site and the Coles planned upgrading of the BiLo store in Oscar St."

Mr Wales said that while the new supermarket developments will put pressure on the overall retail market, they will also open up new opportunities including increased employment and more foot traffic in the town centre.

"The new supermarket developments will obviously increase pressure on the available dollars being spent in town but in the longer term, it will boost activity in Umina Beach and lead to more retail opportunities," Mr Wales said.

"The challenge for the Peninsula business community is to capitalise on the postive impacts and adapt to the new retail regime which will inevitably come."

Press release, 23 Sep 2008 Matthew Wales, Peninsula Chamber of Commerce Press release, 22 Sep 2008 Laing and Simmons Central Coast