Port Adelaide: a homegrown investment opportunity
Port Adelaide is becoming one of Adelaide’s key industrial locations and right in the middle of this evolving precinct is the Port Adelaide Distribution Centre, a cornerstone of the area’s industrial strength and a standout investment opportunity.
If you’ve driven through Port Adelaide lately, you’ve probably noticed it’s not just the cranes and container ships that are moving – it’s the whole area. What was once a quiet industrial pocket in Adelaide’s north west is now buzzing with activity, and at the centre of it all is the Port Adelaide Distribution Centre (PADC), a landmark industrial estate that savvy investors can secure a stake in for a limited time.
Adelaide doesn’t always get the spotlight when it comes it property but the strength of its industrial market truly sets it apart. While the east coast markets have been riding a rollercoaster, the Adelaide industrial sector has been quietly outperforming, showing steady growth, low vacancy rates and a healthy appetite from both tenants and investors.
Adelaide boasts the second lowest industrial vacancy rate among Australia’s capital cities, sitting at just 1.6% – well below the national average of 2.8%[1]. And, in the north west precinct, where PADC is located, it’s even tighter at only 1.5%. This scarcity of available space has fuelled remarkable rental growth, with industrial rents in Adelaide rising by 47% between 2021 and 2024[2]. Yet, despite this surge, rents here remain among the most affordable of any major Australian city – making Adelaide an attractive proposition for both occupiers and investors looking for upside and stability.
Nestled within this precinct is the Port Adelaide Distribution Centre. With more than 174,000 square metres of gross floor area across 32 hectares, it’s got significant scale together with functional warehousing and plenty of space to move. More importantly, it’s ideally situated. Being close to the Port, rail networks, the Northern Connector and the Port River Expressway means goods can move quickly and efficiently, whether they’re heading into the city, out to the regions or across the country.
And that’s exactly what businesses are looking for right now. With ecommerce booming and supply chains under pressure, companies want industrial locations that make logistics easier, not harder. PADC ticks that box.
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It’s already home to a strong mix of quality tenants who value access, reliability and room to grow, including well-known, national companies such as Visy Logistics, Toll Transport and Spendless Shoes. These tenants represent a range of sectors like recycling, agriculture and manufacturing, allowing PADC to generate diversified and stable rental income.
These numbers only tell part of the story. What’s happening around the Port is just as important.
The state’s push towards manufacturing, renewable energy and defence projects means more jobs, more movement of goods and more demand for industrial space. And with land availability tightening across the metro area, places like Port Adelaide are becoming even more valuable.
The Port Adelaide Renewal Project is another factor bolstering the appeal of Adelaide’s North West precinct. Led by Renewal SA, this project is reshaping the precinct into a vibrant, mixed-use destination. More than $25 million has already been invested in public infrastructure, heritage restoration and community spaces. Projects like Dock One and Fletcher’s Slip are bringing new homes, green spaces and waterfront activity to the area, while preserving the Port’s unique maritime character.
The transformation underway in Port Adelaide is attracting new residents, businesses and visitors, creating a more dynamic local economy and increasing the desirability of the area for commercial and industrial tenants alike. For investors, this means stronger tenant retention, rising land values and long-term growth potential.
And with the AUKUS defence program and South Australia’s $20.8 billion infrastructure pipeline driving further investment into the north-west corridor, the timing couldn’t be better. Add to that South Australia’s favourable investment climate – no stamp duty on commercial property transactions and steady population growth – you’ve got a recipe for long-term growth.
Secure a stake in the Port Adelaide Distribution Centre
Investors looking to tap into the strength of Adelaide’s industrial market have a rare chance to secure a stake in PADC through the Centuria Port Adelaide Industrial Fund (“Fund”).
With a forecast distribution yield of 7.50% p.a. in FY26 (annualised), growing to 8.50% p.a. in FY27[3], the Fund aims to provide attractive, tax-deferred income over its initial 5-year term. The closed-end fund is backed by strong market fundamentals and is positioned for growth thanks to PADC’s scale, tenant mix and location in a precinct that is high in demand and in close proximity to significant infrastructure.
The Fund is managed by Centuria, one of Australia’s leading ASX-listed property fund managers with more than $20 billion in assets under management as at June 30, 2025. The company has extensive expertise in the industrial sector, with a large national portfolio and a deep tenant network in South Australia.
The Fund will only remain open for a limited time and has a minimum investment of $50,000. For local investors ready to move, this is a chance to be part of something big – right here in Adelaide’s own backyard.
Visit centuria.com.au/cpaif to learn more and request a copy of the Product Disclosure Statement.
[1] CBRE Research 1Q25
[2] JLL Research, 1Q25
[3] Forecast distributions are pre-tax, is predictive in nature and is subject to assumptions, risks and circumstances (both known and unknown) outside of the control of the Fund. The actual returns may differ from the forecast return. Distributions will be paid if declared by the responsible entity and will be subject to the terms, assumptions and risks set out in the PDS.
Disclaimer: Centuria Property Funds Limited (ABN 11 086 553 639 AFSL 340 304) (CPFL) is the responsible entity for the Centuria Port Adelaide Industrial Fund (ARSN 689 742 505) (CPAIF, Fund). CPFL is a wholly owned subsidiary of the Centuria Capital Group (Centuria) (ASX:CNI). The Fund is open to retail, wholesale and institutional investors.
It is intended that a Product Disclosure Statement (PDS) and Information Memorandum (IM) for the Fund will be issued on or around September 1, 2025. You should obtain and read a copy of the PDS/IM relating to the Fund before making a decision to invest. The PDS/IM for the Fund will be made available from Centuria’s website (centuria.com.au). The information in this communication is general information only and does not take into account the objectives, financial situation or particular needs of any person. You should consider whether this information is appropriate for you and consult your financial or other professional advisor before investing. A Target Market Determination will be issued for this product and will be published on Centuria’s website at centuria.com.au/DDO/
