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Investor snaps up SA suburban centre

A Woolworths-anchored shopping complex in South Australia has sold for $21.81 million, highlighting the pent-up demand for retail investment opportunities in suburban precincts. The convenience-based shopping centre at 297 Peachey Road, Munno Para, in Adelaide’s north, has sold to a local private investor following a hotly contested expressions-of-interest campaign. Savills Australia’s Rino Carpinelli and Steven Lerche brokered the deal on a yield of 7.3 per cent, saying they had anticipated