Wellington Street Coles for sale, plans to become 'best supermarket in Launceston'

The 5590 square metre freehold property was listed for sale on Thursday by Victorian-based brokers JLL Retail Investments and Stonebridge.

According to the listing, the supermarket has "exceptional development upside" and is in line to be upgraded to a full-line Coles store.

The store is accessible from Bathurst and Wellington streets, which are Launceston's busiest inbound and outbound roads.

"[There are] plans in place to develop a new full-line 3600sqm supermarket providing the ability to create the best freestanding supermarket in Launceston," the listing reads.

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The existing floorplan covers 2164 square metres, while the carpark has 110 spaces.

Price expectations for the asset, which is for sale by tender, have not been disclosed.

Expected redevelopments to the store are understood to have held up a neighbouring development site on the corner of Wellington and Canning streets.

That site, which is owned by Launceston's McDonald's franchisee Steven Nicholas, has been pencilled in as a potential location for the city's first Nando's store.

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In July, Coles would not reveal whether its Wellington Street store was in line for an upgrade.

"Coles is constantly evaluating our store network to ensure we are delivering the best shopping experience for customers," a Coles spokesperson said.

"We'll be sure to keep the Tasmanian community informed of any future plans for a local supermarket or upgrades to our network."

Tasmania's first G.J. Coles store was opened in Brisbane Street, Launceston, in 1933.

The Launceston region's first Coles supermarket opened in Mowbray in 1976, and was followed by stores in Launceston and Kings Meadows.

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