developer Lofty Property Group<\/a>, the fully leased neighbourhood centre is anchored by a Drakes supermarket, and features an additional eight tenancies including a coffee shop, barber, real estate office and a range of eateries.<\/p>\nThe 3745sq m centre occupies a 1.1ha site on the corner of Folland Ave and Fosters Rd within the Lightsview housing project.<\/p>\n
Property records reveal the property was acquired by AML Corporation Pty Ltd, a company controlled by sole director and shareholder Thi Kim Loan Trinh.<\/p>\n
The off market deal, struck at a yield of 4.78 per cent, was brokered by CBRE\u2019s Rhyce Scott and Ned Looker.<\/p>\n
Mr Scott said the sale reflected a high level of demand for supermarket-anchored neighbourhood shopping centres.<\/p>\n
\u201cInvestors remain highly attracted to assets that offer secure income streams and direct exposure to growing residential catchments,\u201d he said. <\/p>\n
\u201cThe depth of capital pursuing these opportunities continues to place downward pressure on yields, particularly for premium assets in established growth corridors. We expect strong buyer demand to persist and are currently working on a number of similar opportunities that we believe will attract significant market interest.<\/p>\n
\u201cBuyers are increasingly focused on assets that deliver secure income, strong tenant covenants and long-term growth potential.\u201d<\/p>\n
Lightsview Village was the final commercial piece in the 100ha Lightsview housing development \u2013 a partnership between the state government\u2019s property and development agency Renewal SA and WA developer Peet, which began in 2006 and has grown to include 2000 homes and more than 5000 residents.<\/p>\n
The shopping centre is located opposite the Northgate shopping centre, which includes a Woolworths supermarket, but is not within the footprint of the Lightsview estate.<\/p>\n
Drakes occupies more than 70 per cent of the lettable area at Lightsview Village under a long-term lease that commenced in 2023. The centre generates annual net passing income of $1.12m. <\/p>\n","protected":false},"excerpt":{"rendered":"A local investor has paid $23.5m to acquire the Lightsview Village shopping centre in Adelaide\u2019s north-east. Completed in…\n","protected":false},"author":2,"featured_media":84068,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[129289,136938,136908,136906,136923,136907,83843,44635,38039,136922,136903,136928,54825,136927,136901,136926,48469,136909,37330,88871,39612,136943,136919,395,136912,136913,136900,45160,136931,19443,62653,82108,36917,19446,136921,136924,36854,136937,136910,136899,136918,5957,49656,70736,136920,136940,136917,136904,136930,136916,92576,136914,70482,136932,136896,136933,2637,136898,136902,136915,119855,136925,136935,136942,51490,36649,39924,59409,136941,136939,136929,136934,136905,136911,136897,136936,37445,37118,50986,40686,136945,136944],"class_list":["post-84067","post","type-post","status-publish","format-standard","has-post-thumbnail","category-adelaide","tag-s-north-east","tag-s-property-and-development-agency-renewal-sa-and-wa-developer-peet","tag-s-rhyce-scott","tag-1-12m","tag-23-5m","tag-23-5m-deal","tag-2000-homes","tag-44635","tag-38039","tag-4-78","tag-a-1-1ha-site","tag-a-coffee-shop","tag-a-company","tag-a-drakes-supermarket","tag-a-high-level","tag-a-local-investor","tag-a-long-term-lease","tag-a-neighbourhood-shopping-centre","tag-a-number","tag-a-partnership","tag-a-range","tag-a-woolworths-supermarket","tag-a-yield","tag-adelaide","tag-aml-corporation-pty-ltd","tag-an-additional-eight-tenancies","tag-annual-net-passing-income","tag-assets","tag-barber","tag-buyers","tag-capital","tag-cbre","tag-cent","tag-demand","tag-developer-lofty-property-group","tag-direct-exposure","tag-downward-pressure","tag-eateries-the-3745sq-m-centre","tag-established-growth-corridors","tag-folland-ave-and-fosters-rd","tag-growing-residential-catchments","tag-investors","tag-its-doors","tag-less-than-three-years","tag-lightsview-village","tag-lightsview-village-shopping-centre","tag-little-known-local-investor","tag-long-term-growth-potential","tag-market-deal","tag-more-than-5000-residents-the-shopping-centre","tag-more-than-70","tag-ned-looker-mr-scott","tag-premium-assets","tag-real-estate-office","tag-secure-income","tag-secure-income-streams","tag-shopping-centre","tag-significant-market-interest","tag-similar-opportunities","tag-sole-director-and-shareholder-thi-kim-loan-trinh-the","tag-strong-buyer-demand","tag-strong-tenant-covenants","tag-supermarket-anchored-neighbourhood-shopping-centres","tag-the-100ha-lightsview-housing-development","tag-the-cash","tag-the-centre","tag-the-corner","tag-the-depth","tag-the-final-commercial-piece","tag-the-footprint","tag-the-fully-leased-neighbourhood-centre","tag-the-lettable-area","tag-the-lightsview-estate-drakes","tag-the-lightsview-housing-project-property-records","tag-the-lightsview-village-shopping-centre","tag-the-northgate-shopping-centre","tag-the-property","tag-the-public","tag-the-sale","tag-the-state-government","tag-these-opportunities","tag-yields"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/84067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/comments?post=84067"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/posts\/84067\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media\/84068"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/media?parent=84067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/categories?post=84067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/australia\/wp-json\/wp\/v2\/tags?post=84067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}