This article is from the Australian Property Journal archive
Receivers, Pitcher Partners, have put a mixed-use site in Adelaide’s Parkside on the market.
Located at 12-16 Glen Osmond Road, the site is a former Cappo seafood factory. The 4,084 sq m property comprises a two-storey office building and an industrial-grade processing facility.
The 384 sq m office is currently vacant while the 2,208 sq m industrial property is leased until June 2025.
In 2021, plans were lodged with the City of Unley for two buildings on the site, according to the council’s website. Proposals called for a $37 million mixed-use project comprising of residential and commercial spaces.
According to Colliers, the landholding is spread across three certificates of title, allowing for a multi-level, high density development up to five levels to be built on the site.
Recent investments in the area include the new Bridgestone SA headquarters, Cancer Council Lodge. Eastwood Private Hospital, a $300 redevelopment of Burnside Village Shopping Centre, and a nine-storey BTR project at 217-218 Greenhill Road is also in the works.
Colliers’ Jordan Schmidt, Alistair Mackie and Rhys Newman are handling the listing on behalf of receiver Pitcher Partners.
Jordan Schmidt, head of investment services for South Australia, said: “The property benefits from dual access, with a high-profile 84-metre frontage on Glen Osmond Road and rear access from Chinner Avenue.
“Positioned in the affluent and tightly held CBD fringe suburb of Parkside, offering a rare opportunity for redevelopment in one of Adelaide’s most sought after locations.”
Rhys Newman, associate director for South Australia and investment services, added: “We are expecting the properties to be of particular interest to developers and occupiers being attracted by the unique value-add potential and zero stamp duty.”
