Adelaide, 21 March 2016 – A Dudley Park office and warehouse facility has recently hit the market, in a move which is expected to unlock strong investor and occupier interest.
CBRE’s Jon Nitschke has been appointed to sell 34 Pedder Crescent, which is centrally located nearby the expanding Churchill Road retail and high density residential precinct.
Located on a combined landholding of 7,466sqm, the property comprises recently constructed improvements of 2,466sqm with additional loading canopy of 594sqm.
Built in 2007 the property is very adaptable, offering a large rear yard for container drop off and unloading or additional parking. The property further benefits from commercial exposure to the Regency Road rail overpass, ready built showroom outlet for display and wholesale operations and approval for an additional 900sqm of warehouse, with an interlinking undercover dispatch and receivables area.
Mr Nitschke said the property is well located for supply to the NRAH and is central to the geographic layout of Adelaide for trade sales and distribution. Dudley Park is closer to the city than Regency Park and is bounded by Regency Road, Churchill Road, Torrens Road and Days Road.
“The sale offers an opportunity for owner occupiers to benefit from the presently low rate finance, with the added bonus of a lease tail to Award Brands until the end of October at $309,000pa net – allowing time for an occupier to move business operations or for an investor to secure a new tenant.”
“The properties also benefit from a strategic location in the heart of Dudley Park, surrounded by modern industrial premises and several newly developed properties - most notably the ongoing gentrification of Churchill Road,” Mr Nitschke said.
The property is being offered via Private Treaty, with an indicative price of mid to high $3 million.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.