Adelaide office, childcare centre trades for $22m
A 60 place childcare centre and sprawling vacant office in Adelaide’s south Bedford Park has sold.
The 2.85 hectare irregular shaped asset, 1 Hugh Cairns Drive, (pictured, top), fetched $22 million from local syndicate, Flinders Junction.
Westpac quit the office in October.
It was paying $1.95m per annum net for the two level, 5874 square metre complex.
It declined a five year option.
The childcare centre spans 350 sqm, leased to Goodstart.
Part of the Bedford Park Science Park and Flinders University and Medical Centre precinct, the holding also contains 409 car parks.
Another Bedford Park sale
Mirvac is reported as selling the Hugh Cairns Dve office to the vendor, a Melbourne investor, in 2012 for $16.5m (continues below).
It was listed for sale in 2017 and again in early 2024 – most recently asking $25m.
Zoned Industrial, the property was marketed for its development upside – up to 10 levels.
JLL’s Ben Parkinson and Jack O’Leary with Leedwell’s Jamie Guerra and Andrew Zammit were the agents.
The deal comes four months since we reported KordaMentha sold the neighbouring 7 Laffer Dve to a local investor for $27.5m.
It paid Growthpoint $20.2m for that 6639 sqm office on 3.3ha with 520 car parks.
Bedford Park is 12 kilometres from the CBD.
Subscribe to our newsletter at the bottom of this page.
