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.
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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.
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Strong rental fundamentals and tight supply have driven more than $155 million in Sydney apartment block and residential investment sales over the past year.
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Sydney’s residential investment market has recorded $155 million in apartment block and townhouse sales over 2025, underscoring continued investor confidence in rental-led assets despite broader economic uncertainty.
The transactions were completed by Knight Frank’s Investment Sales agents James Masselos and Adam Droubi, who negotiated 19 sales across Sydney during the year.
Residential investments accounted for 75 per cent of their total sales activity, supported by more than 4,200 active purchaser enquiries.
Co-living deal sets national benchmark
Among the standout transactions was the off-market sale of 142 Carillon Avenue in Newtown, a 37-studio co-living apartment block located close to the University of Sydney and Royal Prince Alfred Hospital.
The property sold for $21.5 million, setting a new benchmark for the living sectors market nationally.
The deal achieved approximately $581,000 per bedroom, believed to be one of the highest per-bedroom results recorded for a co-living asset in Australia.
Inner-city assets trade in one line
Other notable sales included a group of 12 townhouses at 108 Illawarra Road in Marrickville, sold in one line for $14 million, and a block of 20 studio apartments at 171 Rowntree Street in Birchgrove, which changed hands for $6.7 million.
Both transactions reflected strong buyer competition for well-located residential assets with established income streams.
Supply constraints underpin momentum
Mr Masselos said Sydney’s apartment block market continued to benefit from tight supply and strong rental conditions.
“Apartment blocks and broader residential investments remain a robust asset class, underpinned by strong rental growth, record low vacancy levels and scarcity of stock,” he said.
He added that more than $25 million worth of residential investment opportunities are expected to come to market in 2026, with buyer enquiry remaining elevated.
Mr Droubi said competitive sales campaigns had become a feature of the market as investors sought secure income and long-term value.
“Supply constraints and ongoing population growth underpin market strength,” he said. “New approvals and completions lag demand, keeping stock tight and boosting both rents and prices.”
Vacancy rates keep pressure on rents
According to Knight Frank, rental demand across Sydney remains intense, with vacancy rates well below typical “healthy” levels.
Many middle and outer-ring suburbs are recording vacancies of around 1.5 per cent or lower, maintaining upward pressure on rents and reinforcing the appeal of residential investment assets.
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