Fort Knox Self Storage of Melbourne, Australia, intends to build a $12 million mixed-use development that will include a three-story storage facility and an Aldi supermarket on adjacent lots in Coburg North, a suburb of Melbourne. The 13,420-square-meter storage facility and 1,734-square-meter grocery store will be on Sydney Road. Aldi will lease the store from Fort Knox, according to the source.

“Self-storage has really come into its own, especially over the last decade with the increase in higher density living, renting as opposed to owning, and generational lifestyle changes, among the key drivers. This new facility is about responding to rapidly increasing demand and the very positive feedback we have had from our client base,” Fort Knox Director Guy Wilson told the source.

The supermarket will include two sublet tenancies once the store is built. Its portion of the project includes 123 parking spaces.

Family-owned Fort Knox opened its first self-storage facility in 1996. This latest project will be its 10th location in the Melbourne market.

Source:
Food & Beverage, Vaughan Constructions Delivers More Than $12million in Facilities for Fort Knox and Aldi