Near-new Adelaide shopping centre sells for $23.5m
A near-new neighbourhood shopping centre in Adelaide’s north-east has sold off-market.
Developed and sold by Lofty Property Group, Lightsview Village at 163-169 Fosters Road, collected $23.5 million – a 4.78 per cent net passing yield.
On 1.095 hectares it contains c5600 square metres configured with nine tenancies – occupied by food, service and discretionary retail businesses.
These shops range between 80-180 sqm.
Drakes is the anchor in a 3800 sqm supermarket (continues below).
CBRE’s Rhyce Scott, Ned Looker and Oliver Grivell were the agents.
The asset forms part of the broader Lightsview project, a joint venture between Renewal SA and Peet – the latter which we reported today was acquired by Ingenia.
The suburb is about nine kilometres from the CBD.
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