# Real estate investment trust Growthpoint Properties and fund manager Irongate Group are offloading Adelaide's Rundle Place with $220 million price hopes.

*business · news · 2026-04-28 · Australian Financial Review*

## Key points

- Growthpoint Properties and Irongate Group aim to sell Adelaide's Rundle Place for $220 million.
- The pipeline of new major retail assets in Adelaide is drying up, increasing demand from retailers.
- Growthpoint seeks to return capital to investors by selling an asset held in a closed-end fund.
- Growthpoint acquired Fortius in 2022, which partnered with Irongate to buy Rundle Place in 2021.

**Companies:** Growthpoint Properties, Irongate Group, Fortius
**Countries:** Australia

[Read the full story on Australian Financial Review](https://www.afr.com/property/commercial/adelaide-s-rundle-place-lists-for-sale-with-220-million-guide-20260428-p5zrn6)

---

Canonical: https://newsio.io/n/e8a5fd3e-de23-4a7c-83ef-7963640afc01/real-estate-investment-trust-growthpoint-properties-and-fund-manager-irongate-gr
Summarized by Newsio from Australian Financial Review. https://newsio.io/how-it-works