Adelaide Retail Figures Q1 2025

Key Points: 

• Retail sales growth in SA accelerated in the three months ending February 2025 to an average of 3.8% y-o-y, up from the average 2.4% y-o-y growth in the prior three months. 
• There was no new completed retail supply recorded for Q1 2025 (for developments ≥ 3,000 sqm). The Burnside Village extension is expected to open during Q2 2025.  
• Prime large format retail rents in Adelaide saw the strongest growth in Q1, with net face rents up 3.9% q-o-q and y-o-y. Net face rents were stable q-o-q across all retail categories.
• Average incentive levels during Q1 2025 also remained stable q-o-q across all retail asset categories.  
• The sale of Drakes Supermarkets property at 4 Reid Street in Gawler (non metro) was the only recorded transaction during Q1 2025 ($10.15 million), for transactions ≥ $5 million.
• Average yields across Adelaide’s retail market remained stable during Q1 2025. Average yields in Adelaide are currently 6.13% for prime LFR, 4.75% for super prime CBD, 7.23% for regional centres, 6.54% for subregional centres and 6.07% for neighbourhood centres.