Adelaide, 17 February 2014 – The Minelab Electronics facility in the Adelaide suburb of Torrensville has been listed for sale.
Located at 118 Hayward Avenue, the property comprises approximately 6,200sqm over two holdings and includes two buildings with a total improved area of 3,565sqm.
Constructed in 1998 for the current occupier, the buildings feature administration, warehousing, research, development and light assembly facilities, as well as partitioned and separate light-filled offices. The property also boasts more than 85 on-site car parks.
CBRE’s Jon Nitschke and David Reid have been appointed to sell the property by vendor Codan via Offers to Purchase, with price expectations in excess of $5 million. The sale comes as Codan’s 1.8ha Newton facility undergoes redevelopment.
Mr Nitschke said the site’s location would be a key selling factor.
“This property offers strong underlying fundamentals including a prime inner-city position, which is poised to benefit from a number of major new developments including the new Royal Adelaide Hospital and the Woolworths/Big W anchored shopping centre on the former Brickworks Markets site,” Mr Nitschke said.
“Located adjacent to the River Torrens Linear Park, this property is in a unique and aesthetically pleasing environment offering a level of amenity and corporate presentation difficult to replicate.”
Due to a land management agreement with West Torrens Council, the properties presently have joint car parking arrangements and are therefore, to be sold as one holding.
Mr Nitschke said the sales opportunity would attract owner occupiers and astute investors.
“118 Hayward Avenue presents as an ideal corporate headquarters for larger companies, with flexible settlement terms available due to the transition of Minelab to their developed home in Newton,” Mr Nitschke remarked.
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