Land Rich Inner North Industrial Site Fetches $3.1 Million in Hotly Contested Sale

Colliers secures sale of versatile office warehouse in Ottoway to national owner occupier.

Colliers’ Tom Barrett and Luke Brown have successfully settled the sale of a versatile office warehouse with yard at 3 Duncan Court, Ottoway for $3.1 million, acquired by a national owner-occupier.

Offered with vacant possession, the site features a versatile office warehouse facility of 564 square metres on a generous 2,859 square metre plot. With a low building-to-site ratio, it presents an ideal opportunity for occupiers or developers to acquire the site with potential for development (STCA).

Luke Brown, Colliers’ Executive Industrial & Logistics, said, “The asset was surplus to the previous owner’s business requirements and the sale assisted with their site consolidation strategy.”

“The sale was highly contested, with the Expressions of Interest campaign generating over 80 enquiries. This level of interest highlights the strong demand for industrial properties in Adelaide. Low site coverage properties, like the one at 3 Duncan Court, Ottoway, are particularly attractive to a wide range of occupiers due to their flexibility and potential for future development,” added Mr Brown.

Tom Barrett, Colliers’ Director Industrial & Logistics, commented, “Land options in Adelaide are incredibly scarce, which contributes to the competitive nature of the market. We are witnessing continued growth in land rates across all Adelaide sub-markets. In fact, Adelaide’s industrial market continues to experience strong land growth across all sub-markets and a land rate of $1,084sqm is incredibly strong for the inner north.

This property is situated within Adelaide’s inner north industrial precinct, providing direct access to major arterial road networks including Grand Junction Road and Hanson Road. Additionally, the site is strategically positioned close to Port Adelaide and the Osborne Ship Building precinct.”