This article is from the Australian Property Journal archive
NEARLY three years after flagging the divestment, Coca-Cola Amatil has sold its former Adelaide bottling plant, together with two smaller assets, for more than $37 million.
Located in the inner suburb of Thebarton, the historic manufacturing site of 3.5 hectares on Port Rd sold to Adelaide-based Australasian Property Developments and will be redeveloped for commercial residential use in the long term.
Industrial supplier Jetwave Pty Ltd has bought an adjoining property, while Anglicare South Australia picked up the third site of 9,500 sqm last year to develop into affordable housing.
The properties have netted the drinks giant a total of $37.3 million.
Production at Thebarton ended late last year. Coca-Cola Amatil announced early in 2017 it would close the sell off the plant as part of a $90 million, three year plan to remodel its supply chain and increase production in Queensland and Western Australia.
At the end of 2018, Charter Hall’s Prime Industrial Fund and Charter Hall Core Logistics Partnership bought the company’s main WA production facility for in Kewdale for $45.25 million on a 15 year leaseback arrangement, 18 months after the Prime Industrial Fund snapped up the Richlands manufacturing plant in Brisbane for $156 million with a 20-year leaseback.
