Gross Asset Value


(50% stake)

Target Income Yield


(average forecast FY22-FY26)

Target Internal Rate of Return


(excluding development return)

ICAM acquired 50% of this shopping centre in February 2018 and it has performed very well for our investors.

Churchill Centre North is a modern sub-regional shopping centre featuring Adelaide’s only Costco store,  one of South Australia’s best performing Coles supermarkets as well as Kmart and Aldi as major tenants together with a wide mix of non-discretionary retailers and 7,000 sqm surplus land offering further development potential.

Investment highlights

  • WALE of 7.3 years by area (as at 30 June 2021)
  • 99% occupancy
  • Anchored by a quality global and national tenant mix including Adelaide’s first and only Costco store in addition to Coles, Kmart & Aldi
  • 12,000 sqm of surplus land available for future development
  • Strong population growth in catchment area
  • Prime location only 7km from the Adelaide CBD