A fully leased industrial investment in Adelaide’s tightly held inner north industrial precinct has sold off-market for $10.85 million.
The property at 47 & 47A Naweena Road in Regency Park comprises 5,370sq m of gross lettable area across two industrial facilities on a 9,720sq m site, approximately 11 kilometres north of the Adelaide CBD.
It was purchased by local private family office in an off-market transaction negotiated by Knight Frank’s Ryan Mills and Max Frohlich on behalf of a private vendor.
Located within a core logistics and industrial hub of Adelaide, the asset benefits from direct access to South Road and the North-South Motorway, connectivity to the Port River Expressway, Grand Junction Road and Port Wakefield Road, and proximity to the Regency Park intermodal rail freight terminal.
The fully leased property is occupied by LawrieCo Pty Ltd and Enoplastic Aus Pty Ltd and offers a weighted average lease expiry of 2.4 years, providing investors with exposure to a well-located industrial asset in a land-constrained market.
Mr Mills said strong investor demand continued to underpin values for quality industrial assets across Adelaide’s inner north.
“Regency Park remains one of South Australia’s most highly sought-after industrial locations due to its proximity to key transport infrastructure, the Adelaide CBD and major freight networks,” he said.
“The precinct continues to experience strong occupier demand, while limited land supply and tightly held ownership have supported ongoing rental growth and investor interest.
“This transaction demonstrates the depth of demand from well-capitalised private investors and family offices seeking strategic industrial investments in core metropolitan locations.”
Mr Frohlich said off-market opportunities of this calibre were increasingly difficult to secure.
“Assets in Regency Park are rarely offered to the market, particularly those with strong underlying land value and leasing upside,” he said.
“The purchaser recognised the strength of the location and the long-term fundamentals of Adelaide’s industrial sector, which continue to attract both local and interstate capital.
“The transaction is another example of investors looking beyond the eastern seaboard and identifying Adelaide as a market offering compelling value and strong growth prospects.”
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