The property, offered to market for the first time in over 25 years, was fiercely contested at auction this morning, attracting eight active bidding groups and more than 60 individual bids, with the final winning bid landing on just $1,000 above the previous.
The transaction represents a 4.69 per cent yield based on a net annual income of $483,348, setting a new benchmark for metropolitan retail investments over $5 million.
The campaign was jointly led by Oliver Totani and Jack Dyson of RWC Adelaide, in collaboration with Matthew Lane of Dulwich Lane, with the auction conducted by Sam Grover from Ray White SA/NT corporate.
“RWC had the absolute privilege to market and auction this prize asset on behalf of the dual high-net-worth family ownership,” said Oliver Totani.
“The owners needed to believe in our recommendation to take this property to auction, especially with others pushing for a more conservative EOI process. The result speaks volumes.”
“Other agents were scared off by the likely end value of the asset, but we remained confident that the rare nature of this opportunity and the depth of capital in the market would generate intense competition. We were proved right.”
The fully leased, 2,136sqm building sits on 5,908sqm of prime land, directly opposite Campbelltown Shopping Centre in the heart of Adelaide’s ‘Little Italy’. The property houses seven long-standing tenants deeply embedded in the local community: Vella Foods, Olympia Gym, Bombastic Coffees, Pup Boutique, Ultra Tune, Crowies Paints, and Petland, offering a secure and diversified income stream.
With over $75 million in unsatisfied capital bidding at auction, the RWC team is confident in their outlook for similar results in the second half of 2025.
“Campbelltown’s continued growth, strategic infrastructure, and limited commercial land supply make it one of Adelaide’s most compelling retail investment locations,” said Jack Dyson.
The asset's sale confirms both the strength of Adelaide’s metro commercial market and the appetite from investors for quality, income-producing properties with long-term upside.
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