This article is from the Australian Property Journal archive
A PRIVATE investor has paid $4.6 million for a vacant property in Whyalla, Adelaide.
Lot 5 Ekbolm Street, the property comprises a level 3.745 hectare with a 378.45 meter frontage to Ekbolm St and is zoned as District Centre making it suitable for Bulky Goods, Commercial Office and Hotel Accommodation.
Colliers International’s associate director of industrial Andrew Gerlach said due to the recent and planned investment activity in Whyalla, off the back of the mining boom, investors are beginning to cast their eyes for opportunities in South Australia.
Colliers International’s associate director Paul Tierney said the sale of another vacant site points to further evidence of significant growth for industrial land / development sites in SA.
According to Tierney, intense interest in industrial property has been a continuing market trend as demand for stock is greater than the supply of land.
“It is important to point out is that this is a relatively small site in an area not known for industrial property, the sale price is indicative of the strength of the current market,” Tierney concluded.
Australian Property Journal
