German Supermarket Giant Eyes Off Gold Coast Site

Move over Aldi, a German supermarket is coming to town.

Kaufland is rumoured to be looking at buying the old Bunnings Warehouse site at Burleigh for $20 million.

The grocery store chain is part of the Schwarz Group, the world's fourth largest retailer operating more than 1,230 stores and employing 150,000 people across Europe.

A statement on Kaufland's Australian website doesn't give much away, simply stating it "has an ambitious Australian investment and development programme" and was "always looking to purchase suitable and appropriate sites".

Experts hoped a new player in the supermarket game on the Gold Coast and right across Australia could increase competition, and help drive down prices at the Coles, Woolworths, IGA and Aldi.