Family-run Dahlen's sells Ballarat hardware store for $7.25 million

Family-run Ballarat hardware store Dahlsen’s has sold to another independent hardware store, amid interest from a range of developers and retailers for the large 15,400 square-metre site.

Located at 55 to 63 Albert Street in the Ballarat suburb of Sebastopol, the site sold for $7.25 million, a reflection of $470 per square metre.

The site was sold through Colliers International’s Charles Kennedy, Andrew Lewis and Tom Noonan.

“The successful purchaser, G. Gay Hardware, beat stiff competition from a mix of developers, retailers and other hardware chains, and will continue to operate it as a hardware store,” says Kennedy.

“Along with the local Safeway store, this evolving retail strip is also home to big-name brands including Aldi, McDonalds, KFC, Ford, UFS and Plus Petrol.

“Given the location opposite a strong trading Safeway Supermarket, we always expected keen interest from major national retailers,” says Kennedy.

Dahlsen’s occupied the site for the past seven years, with the site previously home to the oldest hardware chain in Ballarat, Coltmans Mitre Ten, which dates back to the gold rush.

Lewis says retail offerings of this scale were uncommon in regional markets such as Ballarat.

Dahlsen’s will relocate to an 8,000-square-metre site in Delacombe.

The sale follows a series of sales by Dahlsen’s this year, selling their businesses in Horsham, Sale and Warragul to hardware giant Bunnings.