Top Shelf Opportunity in SA: Dan Murphy’s Building Hits The Market | JLL

A premium Dan Murphy’s investment in one of South Australia’s most dynamic growth areas has hit the market, offering a rare opportunity to secure a standout retail investment with high growth prospects.

JLL’s Ben Parkinson, Jack O’Leary, and Tom Noonan have been exclusively appointed to sell the property at 18-20 Murray Street, a near-new Dan Murphy’s store that occupies a tastefully adapted character building in the historic and thriving heart of Gawler.

Anchored by Endeavour Group Ltd (ASX: EDV) – Australia’s largest liquor retailer – the property comprises a modern, approximately 1300sqm retail footprint on a substantial 4025sqm site. With dual street frontages to Murray Street and Julian Terrace and 41 on-site car parks, the property offers both convenience and strong retail fundamentals.

“This is a standout retail investment, underpinned by a national ASX-listed covenant and located in one of South Australia’s fastest growing areas,” Mr Parkinson said.

“The lease has six years remaining on the current term, with three further 10-year options, providing a compelling long-term income stream with a net annual income of more than $415,000.

Constructed in 2016, the building offers the potential for significant depreciation benefits, while stamp duty exemptions on commercial property in South Australia further enhance its investment appeal.

“Gawler has seen considerable development and investment, driven by a surge in population and strong growth in median house prices,” Mr O’Leary said.

“The town’s population is growing 30.7 per cent faster than the state average, and the area is expected to accommodate more than 10,000 new dwellings by 2050. As part of Greater Adelaide’s northeast growth corridor, Gawler is strategically positioned to benefit from ongoing infrastructure, commercial and residential development.”

The campaign follows JLL’s January 2025 sale of a freestanding Dan Murphy’s in Cheltenham, Victoria, which transacted on a 4.4 percent yield. Industry sources also indicate that a Dan Murphy’s on Unley Road, in Malvern South Australia, has recently exchanged at a price reflecting a yield of approximately 4 percent, underscoring continued investor demand for assets of this calibre.

Established in 1839, Gawler is South Australia’s first town and is now the commercial and retail heart of the rapidly expanding outer northern suburbs of Adelaide. The property’s main street zoning and position ensures high visibility and site access, while the tenant’s lease structure – including coverage of all increases in statutory outgoings – provides superior income protection for investors.

“This offering combines historical charm with modern retail functionality,” Mr Noonan said.

“It ticks all the boxes – from long lease tenure to a trusted tenant to favourable stamp duty concessions and depreciation benefits, all situated in a high-growth location.”

A 100% freehold interest in 18-20 Murray Street, Gawler is being offered for sale via an Expressions of Interest campaign, closing Thursday May 29, 2025, at 3pm (ACST).