The Stables Shopping Centre in Golden Grove, Adelaide, has been sold by KM Property Funds to a private investor.
Built in 2015, the shopping centre features a Woolworths and BWS, with 10 specialty tenants and two kiosks. It takes up 20,610sqm of space, and has parking capacity for 260 vehicles.
The deal represents just one of only two neighbourhood shopping centres to have sold for more than $20 million in South Australia since 2022.
“The sale of The Stables Shopping Centre reflects the depth of demand for high-quality neighbourhood centres in South Australia,” Matt Holland, state MD of South Australia, at Savills Australia and New Zealand, said.
“This asset is exactly what investors are looking for, anchored by a leading national supermarket, supported by a strong mix of everyday essentials, and located in one of Adelaide’s most established and affluent catchments.”
Located 22km north-east of Adelaide’s CBD, Golden Grove and the surrounding suburbs continue to experience strong retail expenditure growth. Forecasts have the population to increase from 28,557 in 2025 to 31,847 by 2046, alongside retail expenditure growth from $565.8 million to $1.022 billion over the same period.
Savills Australia was joined by New Zealand’s Matt Holland and Steven Lerche, together with Stonebridge Property Group’s Justin Dowers and Philip Gartland, in what was described as a ‘competitive’ expressions-of-interest campaign.
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