This article is from the Australian Property Journal archive
THE South Australian government’s property agency, Renewal SA has brought more than 5.2 hectares of industrial land next to Port Adelaide to the market.
Lot 1 Grand Trunkway, Gillman is the latest in a series of industrial lots brought to the market by the agency over the past several years. Renewal SA is one of the largest industrial landowners within the state and facilitates land supply required for growing industry in South Australia every year.
The site is in a strategic employment zone that supports a range of industrial, logistical, warehousing, storage, research and training land uses together with compatible business activities.
Situated 17 kilometres north west of the CBD, the land is readily accessed from Grand Trunkway via Eastern Parade with easy links to the Port River and Northern Expressways, the Outer Harbor Shipping and Container Terminal, Osborne Defence Precinct as well as the Gillman Rail intermodal.
JLL has been appointed to sell the property.
JLL director – logistics and industrial, SA, Kym Hutchins said that although the land is low-lying and will require works, it offers the “astute buyer a tremendous opportunity to secure a significant land holding in a market without similar alternatives.”
“The Adelaide industrial market remains undersupplied across all sectors. Prospects remain strong and supply into the market is limited . The majority of new construction underway is already spoken for.”
Expressions of interest close 1st December.
The newly elected Labor government this year replaced four board members at Renewal SA and appointed five new members with the aim of addressing the state’s housing shortage. Flinders University deputy chancellor Stephen Hains took over as chair from property figure Con Tragakis, who was appointed in 2019 by the previous government.
In June, developer Peet secured two inner city parcels – including the former Le Cornu site in Forestville that was for a time set to be a Kaufland warehouse until the German retailer pulled the plug on its Australian plans – after entering into development management agreements with Renewal SA.
The Forestville site will make way for 217 townhouses and apartments, and a St Clair site will be developed into 172 dwellings.
Peet will develop the $250 million Forestville project as part of a consortium that includes South Australian retail group Commercial Retail Group and local developer Buildtec.
