McGees Property Sells Premier Regency Park Asset Off-Market to Global Subsidiary

19-21 Opala Street, Regency Park

An industrial property in Adelaide’s prized inner north has sold off-market for $5.9 million, in another example of the strong existing demand from owner-occupiers for functional facilities.

McGees Property’s Marco Onorato and Andrew Wilson negotiated the sale of 19-21 Opala Street, Regency Park on behalf of a local private investor.

Industry-leading plant hire company Porter Plant is the purchaser.

The property is on a 7,928sqm site and comprises an office, warehouse and wash bay for a total of 1,070sqm of improvements, and a low 13% site coverage ratio.

“The purchaser saw significant value in the property,” Onorato said.

“The property offers large hardstand allowing for storage and display of heavy equipment, functional office and warehouse improvements with wash bay, heavy vehicle access, exposure to busy Grand Junction Road, and a tightly held Regency Park address,” he said.

“We continue to see strong demand from owner-occupiers seeking land-rich, functional industrial property within Adelaide’s premier inner north.”

Wilson said, “This deal is yet more evidence of McGees Property’s ability to leverage its networks and database to source an ideal purchaser and achieve a great result for our client, reflecting a deep market knowledge, understanding of the purchaser’s key requirements and ability to connect the right buyers and sellers.”

Onorato and McGees colleague Ross Christodoulou have also just sold an industrial facility in Newton in another off-market deal which saw long-standing family-owned and operated South Australian businesses trade the food processing and distribution facility for $4.85 million.

Functionality was also a key attraction for the purchaser, Enzo’s At Home.

The deals mean McGees Property has facilitated the sale of $10.75 million worth of industrial property off-market in recent weeks.