Drakes Semaphore, 16-24 Semaphore Road, Semaphore, SA 5019

JLL is pleased to exclusively present to market Semaphore Centre, 16-26 Semaphore Road, Semaphore SA — a rare, fully leased neighbourhood shopping centre anchored by Drakes Supermarkets offering a compelling dual value proposition: secure income from a strong national tenant covenant combined with exceptional land banking and future development potential in Adelaide's growing coastal precinct. 

Anchored by Drakes Supermarkets, Australia's largest independent supermarket chain, with a lease to August 2030 and no further option periods, plus four specialty tenants including family favourite Yo-Chi Frozen Yogurt. The property generates an attractive net income of $768,327* per annum with a WALE of 3.97* years by income. 

Situated on Semaphore Road, one of Adelaide's premier coastal high streets, just one street back from the Esplanade and Semaphore Beach. 

The significant 3,970* sqm site benefits from dual street frontages to Semaphore Road (63m) and Newman Street (58m), with 45 at-grade car parks. The site holds Suburban Activity Centre (SAC) zoning, with substantial mixed-use redevelopment potential. 

A strategically located centre in an underserviced catchment, the assets value is underpinned long term by significant recent residential property growth driven by lifestyle appeal and connectivity to the $134.4 billion AUKUS Defence program at nearby Osborne and the Adelaide CBD.