5 Toogood Avenue, Beverley
Investors, occupiers and developers have the rare chance to secure a standalone industrial facility on a large inner Adelaide site with significant upside.
McGees Property’s Simon Lambert and Marco Onorato are marketing 5 Toogood Avenue, Beverley on behalf of a private owner, via Expressions of Interest closing Thursday, 8 October at 3pm.
Expectations are of a price in the high $7 millions.
The property comprises an office-warehouse facility totalling 3,641sqm with multiple roller doors, air lines, ample power outlets and three-phase power, on a significant 7,870sqm site with heavy drive around access with rear yard, and an expansive 60m frontage.
It is being offered with a short-term lease to Hoshizaki Australia until March 2027.
“This land-rich inner city site with great improvements and short-term income offers opportunities for all buyer types,” Onorato said.
“The short-term lease profile provides investors, owner-occupiers and developers with a remarkable chance to unlock value through rent reversion, future occupation, repositioning or development, leveraging the property’s scale, functional and versatile improvements, and flexible Strategic Employment zoning.”
Strategic Employment zoning encourages a broad range of industrial, logistics, manufacturing, research and training facilities uses.
Lambert said the property is strategically located just seven kilometres from the Adelaide CBD.
“Properties of this size and potential in this tightly-held inner Adelaide location very rarely come to the market,” he said.
“Within proximity are established brands including CEVA Logistics, Spicers Australia, MAINair, Electrolux and Ball & Doggett, demonstrating the confidence high performing businesses have in this location.
“Crucially, the site is close to Port Road, providing easy access to the CBD and to Port Adelaide, while nearby Marion Road and South Road, linking it to the southern and northern suburbs of Adelaide,” he added.
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