Figures

Figures Adelaide Industrial and Logistics 4Q24

January 16, 2025 10 Minute Read

Gross take-up of c.54,500 sqm was recorded during 4Q24, bringing the CY2024 total to c.97,000 sqm (below the 10-year annual average of c.150,000 sqm).
There was c.16,700 sqm of new industrial stock added during 4Q24, bringing the CY2024 total to c.61,600 (below the 10-year average of c.92,000 sqm).
The 2025F and 2026F development pipeline is forecast to total above the 10-year average, however the pre-commitment rate is strong at close to 50%.
The average vacancy rate for the market has increased slightly to 1.6% (as at 2H24).
Net face rents remained stable across all asset grades in Adelaide. Super prime net face rents have increased by 9.6% y-o-y to an average of AUD 149/sqm. Average super prime incentives have increased to 12% from 10% a year ago.
Constrained industrial land supply and owner occupier demand in Adelaide’s core industrial precincts has driven land values, with 0.25ha lots increasing by 31.5% y-o-y to an average of AUD 888/sqm and 1.6ha lots increasing by 17.6% y-o-y to an average of AUD 594/sqm.
Super prime midpoint yields remained stable q-o-q and sits at an average of 6.2%.