Mr Scott said the property offered potential buyers an attractive landbank opportunity in an industrial district which had recently experienced rapid transformation, courtesy of substantial public and private sector investments.
“Currently, growth and development are key talking points at the Port Adelaide Council – so we expect to see something exciting come from this transaction,” Mr Scott said.
Mr Looker said the rise of the defence sector had contributed to the economic uplift in the region and CBRE had already been approached by groups looking to acquire sizeable landholdings.
“Port Adelaide securing the contract to build nine of Australia’s next-generation frigates has been a very positive signal and this is underpinning interest in investment opportunities,” Mr Looker said.
Mr Scott added that the abolishment of stamp duty had seen a significant increase in interstate enquiry, with confidence in the South Australian market at an all-time high.
Expressions of Interest close September 20.
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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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.