One of Adelaide’s Largest and Most Established CBD Car Parks Hits the Market | JLL

Landmark 1,206-bay facility offers unmatched accessibility, prime positioning, and strong income profile in core city location

One of South Australia’s largest and most strategically located car parking assets, Adelaide Central Car Park at 215–225 North Terrace, is for sale.

Positioned in the heart of Adelaide’s CBD, the asset is being marketed exclusively by JLL via an International Expressions of Interest campaign.

Constructed in 1963 and spanning eight levels, Adelaide Central Car Park comprises 1,206 car parking bays and boasts a commanding presence on North Terrace, Adelaide’s cultural boulevard. It is the only car park in the city featuring dedicated traffic lights with six lanes of ingress and egress, providing unmatched vehicle access and a seamless entry and exit experience for users.

The asset also enjoys the benefits of dual street frontages with 63 metres to North Terrace and 89 metres to Charles Street, enhancing its visibility and operational efficiency.

Occupying a prime position in the core CBD, the property is fully leased to long term occupiers Wilson Parking Australia, delivering a passing net income of approximately $4.92 million with a recently renewed 3-year lease term. The asset is 100 per cent occupied and also receives minor income from on-site signage.

JLL Managing Director and Head of Capital Markets SA, Ben Parkinson, said the offering presents an exceptional opportunity to secure a landmark investment underpinned by long-term income from a blue-chip operator.

“This is a generational asset in a premier location. Its scale, prominence, and strategic importance within the city’s transport and commercial infrastructure make it a standout in the national investment landscape,”
Mr Parkinson said.

“Adelaide Central Carpark’s proximity to major retail, tourism, education, and medical precincts — including Rundle Mall, Adelaide University, the Art Gallery of South Australia, and the Royal Adelaide Hospital — ensures consistent demand and strong ongoing relevance as the city continues to grow and evolve.”

Luke Billiau, Head of Capital Markets for JLL Asia Pacific, noted the asset’s appeal to both domestic and offshore investors.

“With a stable income profile, prime CBD positioning, and growing urban density, this asset aligns with global investor demand for resilient, long-term real estate assets,” Mr Billiau said.

A 100% freehold interest in Adelaide Central Carpark is being offered for sale by JLL as the exclusive selling agent. The International Expressions of Interest campaign will close on Thursday 8 May 2025 at 4:00pm (ACDT).