Pellicano Sells Major Land Parcels in Kaiela Business Park to Coles and Aldi

Pellicano, in joint venture with Judd & Sons, has sold two significant land parcels in Kaiela Business Park, located on Murray Valley Highway in Yarrawonga, to major supermarket chains Coles and Aldi.

The larger lot, sold to Coles, measures 2.076ha in size; whilst Aldi snatched up the front 8,780sqm site.

The original 12-hectare site, purchased in 2010 by the partnership was subdivided into a masterplanned estate, which has now seen the sale of all individual lots.

The strategic decision to invest in what was an underdeveloped parcel surrounded by a growing residential catchment has paid off, as highlighted by Nando Pellicano, Pellicano’s Managing Director. “We welcomed the chance to purchase the site and are pleased with how Kaiela Business Park has grown into a hub for local and national businesses.”

Positioned at the main gateway into Yarrawonga, Kaiela Business Park offers excellent exposure and easy access with multiple estate entrances from Murray Valley Highway.

The substantial business park has attracted a variety of purchasers and occupants, including a mix of large-format retail and industrial warehousing, along with a childcare centre. Notable buyers include Bunnings Warehouse, Toyota, Tradelink, Repco, and Ford, as well as a local buyer who has acquired the final two smaller lots.

These most recent and notable sales to Coles and Aldi underscore the business park’s appeal.

Kaiela Business Park has not only provided additional commercial infrastructure to the region but has also set a precedent for future developments in growing regional areas.