Newspaper article Coffs Coast Advocate (Coffs Harbour, Australia)

ALDI GETS THE BUZZ {Aldi Buys Up the Busy Bee Centre }

Newspaper article Coffs Coast Advocate (Coffs Harbour, Australia)

ALDI GETS THE BUZZ {Aldi Buys Up the Busy Bee Centre }

Article excerpt

Byline: LUKE KEIOSKIE

TOORMINA could soon become the retail mecca of the Coffs Coast, now that ALDI has paid more than $4 million for a slice of the southern suburb. Busy Bee Shopping Centre, on Minorie Drive at Toormina, has been purchased by grocery retailer ALDI for $4.08 million from local investment trust Verdia.

Colliers International Coffs Harbour brokered the multi-million dollar deal and will be managing the property for the international buyer.

Colliers principal, Steve Little, said the current tenants of the Busy Bee have commercial leases in place that are not affected by the sale.

"The tenants have a right to stay until 2013, and I'd like to think the tenants will be there for years," Mr Little said.

"The property has been bought as an investment and the new owners have given Colliers the task of managing the property for a number of years."

That news should come as some relief to the tenants, with rumours abounding following the sale of Busy Bee. …

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