Colliers transacts a high-profile development site in Adelaide’s tightly held suburb of Parkside.
A high-profile development site in Adelaide’s tightly held suburb of Parkside has sold for $9.6 million, following a competitive campaign led by Colliers Jordan Schmidt, Rhys Newman and Alistair Mackie, on behalf of Michael Basedow of Pitcher Partners.
Located at 12-16 Glen Osmond Road, the 4,084 sqm landholding attracted strong interest from developers and institutional buyers, with over 75 enquiries, a dozen inspections, and nine formal offers submitted at the close of the campaign.
Jordan Schmidt, Colliers Head of Investment Services SA, said, “We were able to leverage significant buyer interest to deliver a clean and optimal outcome for our client at a market-leading price. The campaign highlighted the scarcity of quality redevelopment opportunities within the CBD fringe, and the depth of demand for well-located land with scale and flexibility.”
The property comprises a vacant two-level office building and a leased industrial-grade processing facility, offering dual access and an 84-metre frontage to Glen Osmond Road. Zoned Urban Corridor (Boulevard), the site allows for multi-level, high-density development (subject to council approval), making it one of the most versatile offerings in the area.
Rhys Newman, Associate Director at Colliers, added, “The purchaser recognised the strategic value of the asset with its proximity to the CBD, major road networks, and surrounding health infrastructure, making it a compelling acquisition.”
The sale adds to a wave of private sector investment in the precinct, including the Bridgestone SA Headquarters, Eastwood Private Hospital (currently under construction), and the $300 million Burnside Village redevelopment.
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