Sascha Detmold Cox, Detmold Group’s Executive General Manager, Sales said; “We are extremely proud of our 70-year history as a private family-owned business. This exciting move will position us for future growth and create new opportunities for South Australians.”
The site, which has a net passing income of $1,650,000 per annum, is offered for sale with a two-year lease back (with one-year option) to Detmold Group to accommodate the construction of and relocation to a new purpose-built facility in nearby Regency Park.
Alfonzo Ianniello, Chief Executive Officer, Detmold Packaging added; “This is a significant project for the Detmold Group and demonstrates a commitment to maintaining a manufacturing presence in South Australia. The move to Regency Park will consolidate our head office, manufacturing facility and distribution centre to one location,” Mr Ianniello said.
Comprising multiple office and warehouse buildings totaling a GLA of 24,026sqm on a landholding of 37,634sqm, the site’s ‘Urban Core’ zoning allows for future uses including medium to high density residential, licensed premises, office and healthcare.
CBRE’s Mr Einarson noted the short-term leaseback offers a valuable holding income during any planning and approval stages, providing a major draw for buyers.
“With functional existing improvements, the property presents the opportunity to develop a high-quality residential offering with effective staging to maintain cash flow throughout the development,” Mr Einarson said.
“This is the ultimate repositioning and mixed-use staged development opportunity, ready for the astute developer/investor.”
The property’s location offers excellent transport amenity to the Adelaide CBD including the free tram service and upgrades to Bowden Train Station.
CBRE’s Mr Kies commented; “There is a shortage of large industrial facilities on the City fringe; and as many industrial occupiers require quick connectivity to the masses, this property will certainly appeal to the industrial owner-occupier and or tenant market, including last-mile logistics usages.”
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.