$29.5M Expected for One of Adelaide’s Last Remaining Large-Scale Infill Development Opportunities

535 Grand Junction Road, Gepps Cross

A generational large-scale infill site in Adelaide’s northern suburb of Gepps Cross is for sale, presenting the market with a legacy development opportunity.

McGees Property’s Andrew Wilson and Simon Lambert are marketing 535 Grand Junction Road, Gepps Cross on behalf of private owners, via Deadline Private Treaty closing Thursday, 8 May at 4pm.

The campaign marks the first time in decades the property has been offered for sale. Expectations are circa $29.5 million.

Set across two certificates of title on 45,220sqm of land, the property comprises a mix of older and near-new high clearance and sawtooth warehouses, updated offices, and amenities, totalling 18,788sqm, and is currently utilised as a precast concrete manufacturing facility. The site includes on-site car parking, sheds, and partial perimeter fencing.

The property is occupied by Bianco Walling Pty Ltd on a lease expiring 30 June 2026, with additional right of renewal periods of five years each. Current passing net rent is $1,484,519 per annum plus GST. A development clause within the lease allows developers to terminate the lease.

“This is one of Adelaide’s last remaining large-scale development opportunities. We’re expecting local and national interest from developers, investors, and manufacturing owner-occupiers,” Wilson said.

“It’s a generational chance to secure an irreplaceable, substantial footprint in the heart of Adelaide’s tightly-held northern industrial and commercial precinct, at a time in which Adelaide is experiencing the most significant industrial land shortage in Australia.”

He said buyers have the chance to invest in the property and capture a strong income stream, occupy the facility for their own business, or develop the site depending on needs.

“The property is favourably zoned Strategic Employment in the City of Port Adelaide Enfield, which together with its substantial facilities and low site coverage makes it suited to a range of business operations, and also offers large scope for expansion of facilities, or development, from a value-add play to a new logistics estate.”

“Its flexible zoning, unparalleled connectivity, and exposure to tens of thousands of vehicles daily make it a legacy development opportunity.”

Lambert said, “The trophy asset offers unparalleled connectivity being strategically positioned minutes from the North-South Motorway centrally located between the Port and the CBD, making it ideal for industrial, manufacturing and logistics operations.

“The property is also close to Princes Highway, Main North Road, Churchill Road, and Salisbury Highway.”

The prime industrial precinct is home to some of the nation’s largest occupants, including Mainfreight, Linfox, Aldi’s distribution centre, Costco, Coopers, and Gepps X Home HQ, which is occupied by JB Hi-Fi, The Good Guys, Harvey Norman, Hungry Jack’s Ampol, Bianco Construction, Wattyl Paint and Coles.