A premium investment opportunity with value-add potential in a tightly held Adelaide industrial precinct is expected to generate a hot contest among savvy buyers.
Colliers International’s Tom Barrett and Paul Tierney have been appointed to sell a 2,644 sqm site at 14 and 16 Bailey Street in St Marys by Expressions of Interest closing Thursday April 30 at 12pm.
“This is a significant property and represents an outstanding opportunity for an astute investor to acquire a well sought after inner southern industrial site,” Mr Barrett said. The property is leased to Fluid Products Pty Ltd on a new three-plus-three year lease for an annual rent of $150,000 per annum plus GST and outgoings.
“It is situated in a highly sought after inner south location, offering close proximity to the CBD and Adelaide Airport and provides convenient access to nearby major arterial roads including South Road and Daws Road,” Mr Barrett said.
The property is home to a 1,175sqm, two-level modern office building, a high clearance warehouse and extensive canopy. A vacant adjoining lot of approximately 837sqm is also included in the sale. Agents expect the property to attract strong interest from local investors and developers.
“This is a unique industrial listing in the on offer is an investment asset alongside a block of land,” Mr Barrett said. “There is very limited developable land available in the inner south market, as well as a lack of quality investment stock. Add to this the highly sought after near-CBD location, and we expect this property to be snapped up after a hot contest.”