21 Baker Street, Port Adelaide
A versatile Port Adelaide office, showroom and warehouse facility has sold under the hammer for $2 million after a huge auction campaign.
McGees Property’s Marco Onorato and Ross Christodoulou sold 21 Baker Street, Port Adelaide on behalf of a retiring couple who had owned the property for 25 years.
The property comprises a 584sqm building on 1,039sqm of land and was offered with vacant possession.
The auction campaign generated significant enquiry from owner-occupiers, with more than 100 enquiries culminating in fierce competition between eight bidders on auction day.
Onorato said the purchaser is an interstate owner-occupier who is looking for warehouse distribution for their national stone and home improvement business.
“They have an existing showroom in Kent Town and required a storage and distribution warehouse,” he said.
“They were attracted to the property’s strategic location close to the Port, Airport and major roads. We continue to see strong demand for north-western industrial assets.”
Christodoulou said owner-occupiers are still driving this part of the industrial market.
“The industrial market remains incredibly tight and businesses are looking to take the leap to purchase their own facilities,” he said.
He added, “There’s a lack of supply of Torrens-titled warehousing and that was reflected in the huge demand our campaign generated.”
Related Articles
