- The 17,000 sqm site is located on Richmond Road
- Comes as the industrial sector remains strong
- Represents the six Netley acquisition facilitated by the CBRE team
Property developer and construction company Buildtec has unveiled its plan to develop a new industrial estate, following the purchase of a Netley site near the Adelaide Airport.
The 17,000 sqm site, located on Richmond Road and six kilometres from the Adelaide CBD, was acquired for $10.25 million.
Currently, the site has existing improvements with a gross lettable area of circa 8,000 sqm, returning an annual income of $410,000.
Buildtec presently has plans to redevelop the land into an industrial site, with the buildings varying from 1,000 sqm to 8,000 sqm.
Anthony Da Palma and Jordan Kies of CBRE brokered the off-market sale, with CBRE also tasked with steering the leasing campaign.
“We saw a strong level of buyer interest in this site,” Mr De Palma said.
“The high-profile surrounding tenants such as Ikea, TNT, Australia Post and the State Opera of South Australia proves that the inner west is a sought-after location for industrial and logistic facilities and we expect significant demand for the planned estate, which will provide turnkey solutions with quick build times.”
This sale is the fourth Netley industrial site that has been transacted by CBRE since early last year.
Anthony Carrocci, Buidltec Managing Director, said the new estate could accommodate single or multiple tenants and is expected to appeal to various users, such as e-commerce, logistics, transport and airport-related occupiers. This is ideal, given the industrial sector is booming.
“With the imminent commencement of the remaining North-South Corridor works and associated road infrastructure upgrades along Richmond Road, this site will attract groups seeking a central location with superior connectivity,” Mr Carrocci said.
