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A high-profile inner-south Adelaide investment has sold for $7,175,000, changing hands after a competitive campaign.
The site, at 80–94 Goodwood Road, Goodwood, sold off-market to a highly motivated buyer, reflecting a 5.17 per cent yield. The purchaser was drawn to the underlying landholding as well as its position on a major corner site roughly 1.5km from the Adelaide CBD.
The property features a brand-new service station and convenience retail asset completed in 2023, offering significant depreciation allowances. Formerly operated by X Convenience, the site is now leased to BP following the brand’s recent acquisition of the network, strengthening the covenant and adding to the investment’s appeal.
Rhyce Scott from CBRE, who managed the sale, said the result reflects sustained buyer demand for scale in prime metropolitan locations.
“The level of enquiry highlights how tightly held large sites of this nature are, particularly in established inner-south precincts.
“Buyers are continuing to target well-located assets that offer flexibility, strong income and long-term upside.”
The 2,623sqm holding sits along the tightly held Goodwood Road corridor, directly opposite the Adelaide Showground and minutes from the CBD. Its proximity to one of South Australia’s most significant pieces of public infrastructure was a key drawcard, giving buyers long-term certainty that the surrounding amenity and activation of the precinct will remain in place.
Positioned within the City of Unley, the site is zoned for non-residential use and has previously been earmarked for large-format retail and convenience-based development, adding further to its appeal among investors and developers.
Scott said the site’s broad frontage, high-exposure setting on a major arterial route and proximity to the Adelaide Showground were key drivers of interest throughout the campaign.
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