Landmark transaction highlights investor confidence in Adelaide’s booming southern corridor.
A fully leased campus style office call centre anchored by Westpac Banking Corporation has sold for $27.5 million, reflecting a passing initial yield of 7.60 per cent and a rate of approximately $4,142 per square metre.
The asset, located at 7 Laffer Drive, Bedford Park, was sold off market by KM Property Funds to a private investor which was marketed in a confidential off-market campaign via JLL’s Ben Parkinson and Jack O’Leary, and Leedwell’s Jamie Guerra, Andrew Zammit and Mitch Curnow.
Set on a substantial site of approximately 3.31 hectares within the Bedford Park Science Park, the property comprises a 6,639sqm purpose-built, campus-style office facility with 520 on-site car parks.
Mr Guerra said the sale highlights confidence in the region’s ongoing transformation.
“Major infrastructure investment continues to drive the precinct’s growth, with the completed Flinders Link Project now providing direct rail access to the Adelaide CBD. The $1.5 billion Flinders University Bedford Park Campus redevelopment will add further momentum, establishing South Australia’s largest integrated health and education precinct,” he said.
“The underlying land value and Strategic Innovation zoning provide scope for future redevelopment of up to ten levels, subject to council approval, supporting mixed-use outcomes across health, education, residential and commercial uses.”
“It’s a standout example of a secure investment with outstanding potential in one of South Australia’s fastest-evolving precincts.”
Mr Parkinson said the sale demonstrates ongoing investor appetite for secure, income-producing assets with large land holdings and long-term development potential.
“This result speaks volumes about the strength of Adelaide’s southern corridor and continued demand for well-located assets backed by national tenants,” he said.
“The site’s significant landholding, zoning flexibility and strategic position between Flinders University, Flinders Medical Centre and the Tonsley Innovation District make it an exceptional long-term investment.”
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