Industrial properties headline new commercial listings across Adelaide
A number of industrial properties across Adelaide headline this week’s new commercial property listings, while a farming aggregation near Bordertown has been sold after attracting 60 enquiries.
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FAST FACTS
SALISBURY NORTH
Address: 16 Playford Crescent
Type: Office/Warehouse
Agent: Commercial SA, Matt King 0419 654 195 & Andrew Turner 0419 859 130
On a substantial 2590sq m block in Salisbury North, this imposing 879sq m office warehouse has a lot to offer says selling agent Matt King.
“The property was built in 2006 and you can really tell that it has been looked after. The three large roller doors allow for easy access points to multiple areas within the warehouse so it was built with clever forward thinking,” he said.
”Over the past decade we have sold a variety of properties within this commercial precinct and honestly believe there is still genuine upside in the area,” co-agent Andrew Turner said.
“The offices comprise of 3 larger areas with a separate kitchen and even a shower facility and are in near new condition as the current owner has predominantly used the warehouse for their own purpose and had no real need to use the office portion. The property also has the added bonus of a concreted hardstand/parking area with a further yard area at the rear of the block which could potentially be used for further storage which is currently under-utilised.”
For sale by public auction Thursday June 6 at 1pm on site.
FAST FACTS
MUNDULLA
Address: Up to 25 kilometres west of Bordertown.
Type: Farming aggregation
Agent: CBRE. Phil Schell 0881 103 360, Angus Bills 0881 103 371
CBRE has sold a privately listed farming aggregation in South Australia’s Mundulla, with the best cropping land achieving close to $4000 per acre.
Four out of the five properties in the 911ha aggregation were purchased by local farming families and producers, the average price for the total aggregation was $8700 a hectare.
The five of the individual Mundulla farmland properties have been divested, including Kil-Lel (176ha), Richmond (225ha), Speculation (112ha), Sweataroo (313ha) and The Cottage (85ha).
In 2018, about 851ha was being cropped to beans, wheat and barley, canola and oaten hay. Last season, crop yield and quality on the aggregation performed extremely well with wheat at four tonne per hectare, barley at 3.4 tonne and canola around 2.5 tonne while many areas in South Australia suffered production losses under dry seasonal conditions.
CBRE’s Phil Schell and Angus Bills have now finalised contracts with four buyers after completing an extremely competitive expression of interest campaign, which attracted 60 inquiries, 26 property inspections were conducted and many offers received for each property.
One buyer purchased two of the properties for sale.
“The sales campaign created competitive buyer tension and resulted in a great result for our vendor,”Mr Schell said.
“The local buyers were attracted to the ideal add-on properties that the Mundulla aggregation presented their existing farming operations.”
“The sale has broken new records for bare cropping land in the region, with minimal improvements on each of the properties.”
“The South-East region continues to be a highly sought-after area to secure feed reserves and seek reliability among the current seasonal conditions,” Mr Bills said.
FAST FACTS
DUDLEY PARK
Address: 1 Islington Court
Type: Industrial
Agent: JLL - Hamish Crouch 0433 278 821, Kym Hutchins 0438 836 817
A high quality, government-leased office warehouse of 882sq m situated within a corporate business park just 4.5km from the Adelaide CBD, is for sale.
“The property is leased to the Minister for Transport and Infrastructure, providing an annual net income of $80,500 plus GST and outgoings,” JLL’s Hamish Crouch said.
“The tenant has been in occupation of the property since its construction in 2014.” Situated on 1471sq m of land, the property sits among a number of corporate and national occupiers including Gilbarco Veeder-Root, Courier Luggage, Zap Energy Solutions and Total Rubber.
The precinct has benefited from key north-south infrastructure upgrades, of which provide great linkages to the CBD, airport, Port and Adelaide’s core northern industrial areas. “Dudley Business Park continues to attract strong interest from both purchasers and tenants looking for high quality properties with immediate proximity to the Adelaide CBD,” Mr Crouch said.
JLL’s most recent success was the sale of 2 Islington Court, Dudley Park earlier this month (the adjoining property) and which sold for $1.35 million, reflecting a strong rate of $1675 a sq m over the building area.” Mr. Crouch said.
For sale by expression of interest closing Thursday May 30, 2019.
FAST FACTS
NORWOOD
Address: 100 Fullarton Rd
Type: Office warehouse
Agent: Savills Australia, Zandra McGee 0401 238 574 and Adam Hartley 0419 174 764
Expanding local architectural hardware company, Tradco, has signed a two-year lease for an office premises in Norwood, to accommodate increasing staff numbers.
Zandra McGee and Adam Hartley negotiated the terms at $360sq m, saying it was the third lease they had assigned along the Fullarton Rd strip in April.
“This is evidence that the strong demand for eastern city-fringe stock is continuing,” Ms McGee said.
Tradco was impressed with the building from the first inspection she said.
“Tradco was drawn to 100 Fullarton Rd because of the large encased balcony, which gives staff the chance to enjoy a breath of fresh air during the day,” she said.
The property also has several secure car parks included in the rent, which Ms McGee said was “a big drawcard for fringe tenants”. “There is a decent amount of natural light in the building, too, which continues to be a highly sought-after feature,” she said.
Mr Hartley said he and Ms McGee were always on the lookout for new city-fringe office stock, as they consistently received inquiries from clients for this asset class.
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