Coles eyes off prime site of vacant Sam's Warehouse block
SUPERMARKET giant Coles is eyeing off a prime site in South Rockhampton as it looks to take market share off rival Woolworths.
Coles, which is already making a play for a new northside shopping centre at the old WIN TV location in Dean St, confirmed yesterday it was in the market for a second centre in South Rockhampton.
Coles would not reveal its preferred site but industry sources told The Morning Bulletin that Coles was looking at the vacant Sam's Warehouse building on Gladstone Rd.
The Bruce Hwy location has potential to take shoppers away from the Woolworths supermarkets in Allenstown and Gracemere.
Coles currently has supermarkets in City Centre Plaza (Sth R'ton) and Northside Plaza (Nth R'ton).
A Coles spokeswoman said the company was actively looking at opportunities at Allenstown but had made no decisions yet.
"If Coles finds a suitable location in Allenstown, we will work closely with the local council and community," she said.
The supermarket giant makes $64 million in sales in the Rockhampton region with Woolworths raking in $187m (excluding Gracemere).
A report into the Dean St project says annual average sales per square metre for Coles in Rockhampton is $12,997 while for Woolworths it's $20,123.
It claimed Woolworth's sales were "over trading" at the top of an acceptable range of turnover while a good average per square metre was between $10,000 and $12,000.