A high-profile inner-south Adelaide investment has sold for $7,175,000, with 80–94 Goodwood Road, Goodwood changing hands following a competitive campaign.
The property was sold off-market to a highly motivated buyer. The deal reflects a 5.17 per cent yield, with the purchaser attracted not only to the underlying landholding but also its strategic location on a major corner site approximately 1.5km from the Adelaide CBD.
The property was sold through CBRE, with Rhyce Scott saying the result reflects sustained buyer demand for scale in prime metropolitan locations.
“The level of enquiry highlights how tightly held large sites of this nature are, particularly in established inner-south precincts,” Mr Scott told COMMO. “Buyers are continuing to target well-located assets that offer flexibility, strong income and long-term upside.”
The 2,623sqm holding occupies a prominent position along the tightly held Goodwood Road corridor, directly opposite the Adelaide Showground and just minutes from the Adelaide CBD. Its location adjacent to one of South Australia’s most significant pieces of public infrastructure was a key drawcard for buyers, providing long-term certainty that the surrounding amenity and activation of the precinct will remain in place.
The property features a brand-new service station and convenience retail asset completed in 2023, offering the benefit of significant depreciation allowances. Formerly operated by X Convenience, the site is now leased to BP following the recent acquisition of the network, further strengthening the covenant and enhancing the appeal of the investment.
Positioned within the City of Unley, the site is zoned for non-residential uses and has previously been earmarked for large-format retail and convenience-based development, adding to its appeal among investors and developers.
Mr Scott said its broad frontage, high-exposure setting along a major arterial route and immediate proximity to the Adelaide Showground were key drivers of interest throughout the campaign.
The offering attracted a wide range of groups, with strong competition underpinned by the site’s scale, connectivity and proximity to major transport links, retail amenity, the Adelaide Showground and the Adelaide CBD.
Extracted in full from: https://www.commo.com.au/properties/2026/08/04/goodwood-service-station-investment-sold-7175-million-%E2%80%93-cbre/1785819721
