Trophy Ascot supermarket asset catches investors’ eyes

By Nadia Salvetti

Nestled in the heart of Brisbane’s third most affluent suburb, 27 Alexandra Road, Ascot, has hit the market, leased by supermarket success IGA Marketplace.

The property is being marketed by Ray White Commercial QLD’s Michael Feltoe and Lachlan O’Keeffe.

Just 5km from the Brisbane CBD, the freestanding supermarket is surrounded by significant traffic generating amenities including four of Brisbane’s most in-demand schools.

The supermarket was previously operated for more than 55 years by the beloved Sirrani’s, before being taken over by experienced metropolitan supermarket operators HG Retail under their IGA Marketplace banner on a brand-new 20-year whole-of-land net lease.

“This is an ultra-rare opportunity to purchase a prestigious freestanding supermarket investment with a brand new 20-year lease,” Mr Feltoe said.

“The long-term guaranteed income growth, combined with the prized location and site’s long supermarket history, will give buyers great confidence in this trophy asset.”

HG Retail are renowned across some of Brisbane’s most upmarket suburbs including New Farm, St Lucia, and Hawthorne for their high-end, premium supermarket offering which combines the strength of the IGA brand with premium local and in-house produce.

IGA Marketplace Ascot is their newest store, which has already proven a resounding success with locals after undergoing a renovation and relaunch in 2022.

Mr O’Keeffe said: “HG Retail conducted extensive capital improvements through 2022 in excess of $4 million renovating and refitting the store, and have created a truly state-of-the-art offering that perfectly complements the local demographic.”

IGA Marketplace Ascot is being offered for sale via auction on Wednesday, 19 April, at 10:15am at Level 26, 111 Eagle Street, Brisbane City.

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