This article is from the Australian Property Journal archive
METAL fabrication company J&H Williams, which went into voluntary administration in June, is selling the Port Adelaide facility it has operated from since World War II.
The 1,399 sqm corner site at 25-27 Church Place is being offered with a favourable Regional Centre (Main Street) zoning and vacant possession, amid a period of tight supply in the Adelaide industrial market.
CBRE’s Rhyce Scott, Ned Looker and Cass Applebee are marketing the property via expressions of interest closing September 20.
It has a 1,224 sqm building and combined frontage of 35 metres to Church Place and Quebec Street, and is spread across five certificates of title.
Scott said the property offered potential buyers an attractive landbank opportunity in an industrial district which had recently experienced rapid transformation, courtesy of substantial public and private sector investments.
“Currently, growth and development are key talking points at the Port Adelaide Council – so we expect to see something exciting come from this transaction,” he said.
Looker said the rise of the defence sector had contributed to the economic uplift in the region and CBRE had already been approached by groups looking to acquire sizeable landholdings.
“Port Adelaide securing the contract to build nine of Australia’s next-generation frigates has been a very positive signal and this is underpinning interest in investment opportunities,” he said.
Savills data shows that in the 12 months to June 2018, around 59,349 sqm of industrial space was leased across Adelaide, well below the five-year average.
Industrial supply has also slipped due to a decline in pre-commitment, with completions just a fraction of the 2013 peak of 100,000 sqm. Last year, completions totalled around 30,000 sqm, and this year less than 10,000 sqm has been completed or is under construction.
Australian Property Journal
