Kurralta Village Sells for $75.2 Million in Major Adelaide Deal
South Australia’s retail market stays hot as Taplin Group acquires the fully-leased centre, with expansion plans in place.
< 1 min
Kurralta Village, a dominant sub-regional shopping centre in inner Adelaide, has changed hands in a $75.2 million off-market deal.
South Australian-based Taplin Group purchased the property, and Knight Frank negotiated the sale.
Located at 153 Anzac Highway in Kurralta Park—just over 4 kilometres from Adelaide’s CBD—the centre offers 10,669 square metres of gross lettable area across a 32,570 square metre site and includes 542 car parks.
Fully leased and anchored by Coles and Kmart alongside 12 speciality stores, the centre generates around $3.5 million in annual net income and has a weighted average lease expiry (WALE) of six years.
Knight Frank’s Ryan Mills noted that Coles Group had acquired the centre in 2023 for $74.25 million, with the property now selling at a premium due to the security of the major retailer’s lease.
“Following the sale, Taplin Group will expand the Kurralta Village Shopping Centre, with Coles to grow its footprint to have a full-line supermarket,” he said.
Mr Mills added that the site also holds potential for residential development, with zoning allowing projects of up to eight storeys.
“In addition to anticipated significant development upside, the asset is underpinned by a secure, highly-defensive income stream with more than 80% generated from strongly-performing national tenants Coles and Kmart,” he said.
Knight Frank’s Max Frohlich said the sale highlights strong investor confidence in South Australia’s retail sector.
“Shopping centres are undoubtedly the most sought-after asset class in the Adelaide market, often transacting at yields firmer than the eastern states and below debt costs,” he said.
A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.
A 30-metre masterpiece unveiled in Monaco brings Lamborghini’s supercar drama to the high seas, powered by 7,600 horsepower and unmistakable Italian design.
Buyer demand, seller confidence and the First Home Guarantee Scheme are setting up a frantic spring, with activity likely to run through Christmas.
2 min
The spring property market is shaping up as the most active in recent memory, according to property experts Two Red Shoes.
Mortgage brokers Rebecca Jarrett-Dalton and Brett Sutton point to a potent mix of pent-up buyer demand, robust seller confidence and the First Home Guarantee Scheme as catalysts for a sustained run.
“We’re seeing an unprecedented level of activity, with high auction numbers already a clear indicator of the market’s trajectory,” said Sutton. “Last week, Sydney saw its second-highest number of auctions for the year. This kind of volume, even before the new First Home Guarantee Scheme (FHGS) changes take effect, signals a powerful market run.”
Rebecca Jarrett-Dalton added a note of caution. “While inquiries are at an all-time high, the big question is whether we will have enough stock to meet this demand. The market is incredibly hot, and this could lead to a highly competitive environment for buyers, with many homes selling for hundreds of thousands above their reserve.”
“With listings not keeping pace with buyer demand, buyers are needing to compromise faster and bid harder.”
Two Red Shoes identifies several spring trends. The First Home Guarantee Scheme is expected to unlock a wave of first-time buyers by enabling eligible purchasers to enter with deposits as low as 5 per cent. The firm notes this supports entry and reduces rent leakage, but it is a demand-side fix that risks pushing prices higher around the relevant caps.
Buyer behaviour is shifting toward flexibility. With competition intense, purchasers are prioritising what they can afford over ideal suburb or land size. Two Red Shoes expects the common first-home target price to rise to between $1 and $1.2 million over the next six months.
Affordable corridors are drawing attention. The team highlights Hawkesbury, Claremont Meadows and growth areas such as Austral, with Glenbrook in the Lower Blue Mountains posting standout results. Preliminary Sydney auction clearance rates are holding above 70 per cent despite increased listings, underscoring the depth of demand.
The heat is not without friction. Reports of gazumping have risen, including instances where contract statements were withheld while agents continued to receive offers, reflecting the pressure on buyers in fast-moving campaigns.
Rates are steady, yet some banks are quietly trimming variable and fixed products. Many borrowers are maintaining higher repayments to accelerate principal reduction. “We’re also seeing a strong trend in rent-vesting, where owner-occupiers are investing in a property with the eventual goal of moving into it,” said Jarrett-Dalton.
“This is a smart strategy for safeguarding one’s future in this competitive market, where all signs point to an exceptionally busy and action-packed season.”
Two Red Shoes expects momentum to carry through the holiday period and into the new year, with competition remaining elevated while stock lags demand.
By improving sluggish performance or replacing a broken screen, you can make your old iPhone feel new agai
A divide has opened in the tech job market between those with artificial-intelligence skills and everyone else.
