Aldi on the cards for Cleveland shopping centre following Stockland sale

ALDI: A third major supermarket could be coming to Cleveland.
ALDI: A third major supermarket could be coming to Cleveland.

AN Aldi supermarket is on the cards for a Cleveland shopping centre formerly owned by property developer Stockland.

Sydney-based Haben Property Fund, which acquired the centre earlier this year, has its sights set on a $4.8 million expansion which would include the addition of an Aldi and a number of specialty stores.

The split centre has a Woolworths on one side of Middle Street and Coles on the other, which collectively bring in more than 20 per cent of the centre's income.

It has an annual turnover of $147 million.

A Core Property report stated Haben was already in discussions with Aldi, which had made previous offers to trade in the centre.

Stockland Cleveland was acquired for $103 million by Haben, which is controlled by father-and-son duo Harold and Ben Finger.

It was renamed Cleveland Central on Friday.

The centre was bought by Stockland in October 2002 for $63.3 million. In March 2018, Stockland bought the adjoining 206-lot car park from Redland City Council.

The centre's sale price showed a discount of nearly 13 per cent on its most recent independent valuation of $118 million in December 2017.