A significant commercial property transaction has occurred in Adelaide, with a $27.5 million sale of a 3.3-hectare site at 7 Laffer Drive, Bedford Park. This off-market deal involved a fully leased, campus-style call centre primarily occupied by Westpac Banking Corporation. The facility spans 6,639 square metres and includes 520 onsite car parks, highlighting the growing appeal of Adelaide’s commercial sector.
The property was sold by KM Property Funds through agents Ben Parkinson and Jack O’Leary from JLL, along with Jamie Guerra, Andrew Zammit, and Mitch Curnow from Leedwell. The sale price of $4,142 per square metre reflects the robustness of the commercial market in Adelaide, along with increasing investor confidence in the area.
Growth in Bedford Park
According to Mr. Guerra, this transaction underscores the ongoing transformation of the Bedford Park precinct, which is attracting substantial investment. He pointed out that the completion of the Flinders Link Project has enhanced connectivity by providing direct rail access to the Adelaide CBD. Furthermore, the $1.5 billion redevelopment of the Flinders University Bedford Park Campus is set to further stimulate growth, turning the area into South Australia’s largest integrated health and education precinct.
The site’s current zoning allows for future redevelopment of up to ten levels, pending council approval. This flexibility supports a mixed-use development strategy that could encompass health, education, residential, and commercial uses. Mr. Guerra described the property as an “outstanding investment opportunity” in one of the state’s most rapidly evolving areas.
Strong Demand for Commercial Assets
Mr. Parkinson emphasized that income-producing properties on large landholdings in areas with long-term development potential remain highly sought after. He stated, “This result speaks volumes about the strength of Adelaide’s southern corridor and the continued demand for well-located assets backed by national tenants.”
The site’s strategic position is notable, as it is situated between Flinders University, the Flinders Medical Centre, and the Tonsley Innovation District. According to experts, this makes it an exceptional long-term investment opportunity, particularly given the ongoing infrastructure developments in the region.
The sale of this Bedford Park property not only highlights the strength of the local commercial market but also signals a broader trend of increasing investment in South Australia’s southern districts, as businesses and investors seek to capitalize on the area’s growth potential.
