As the Cityscope team produce the latest edition of their Adelaide Cityscope, we report this week on the sale of the historic Regent Arcade. In a sale arranged by Remo Russo of Commercial Adelaide Real Estate Group, private company Malabe Pty Ltd has accepted $48.5 million for the arcade.  

The iconic arcade sits in a great location on Rundle Mall and is comprised of several buildings of 2, 3 and 4 storeys; there are around 38 small shops in the arcade. It was the home of the Regent Theatre which occupied the building from June 1928 until closure in early 2004.  

The arcade was purchased by Wingpower Holdings Pty Ltd which is owned in equal shares by Fai Hui and Kong Hui, both of Hong Kong. 

It previously traded at $26.3 million in 2006. At $48.5 million the sale represented an initial yield of 3.5% on passing income of $1,697,500 per annum.