This article is from the Australian Property Journal archive
A PORTFOLIO comprising two industrial properties in tight markets of South Australia and Western Australia is up for grabs, as quality assets in the sector become increasingly rare.
The Cleveland Freightlines portfolio contains 9-15 Wirriga Street in Regency Park, SA and 91-103 Kurnall Road in Welshpool, WA, both of which have been held under the same ownership and occupancy for more than 25 years.
Martin James, Kym Hutchins, Chris Monterosso and Luke Schreier from JLL are managing the sale of the portfolio, via an expressions of interest campaign.
“Being able to offer two significant properties as a portfolio is an extremely rare “unicorn” opportunity, particularly given the highly land-constrained industrial markets in SA and WA,” said Martin James, head of logistics and industrial at JLL, SA.
“Demand from the Transport and Logistics industry has grown exponentially since the pandemic, resulting in a significant shortage of suitable industrial properties either for sale or lease.”
Both properties have been utilised as operational bases of transport company, Cleveland Freightlines. A new owner could make similar use of the properties or maximise development to enhance the sites.
9-15 Wirriga Street in Regency Park provides potential buyers with a site area of 37,150sqm in a strategic Inner North location, within close proximity of the Port, Airport and heavy vehicle transportation infrastructure.
The property boasts street to street access, via Wirringa and Kateena, four existing crossovers and five allotments, providing many development and occupancy opportunities.
“Wirriga Street is in Adelaide’s premier industrial suburb Regency Park. Established in the late 1970’s Regency Park was specifically designed to cater for and meet the needs of Industry well into the future. These design elements made it attractive to all forms of Industry and will continue to do so well into the future,” said James.
“The property is approximately a 15-20 minute drive to the Osborne Naval Shipyard, RAAF Edinburgh and the Adelaide CBD. Finding industrial property opportunities of this size, scale and flexibility, in this location are almost impossible find.”
Meanwhile, 91-103 Kurnall Road has a site area of 18,251sqm in the tightly held inner eastern industrial suburb of Welshpool.
The site boasts 146 metres of frontage, with transport related improvements and direct access to Perth Airport, the Kewdale Freight Terminal and the wider metropolitan area of Perth.
The expressions of interest campaign for 9-15 Wirriga Street and 91-103 Kurnall Road is set to close on 19 May 2023.
