Merlino locks up another Adelaide industrial site
Merlino Development Group has snapped up a major north Adelaide industrial investment to repurpose as a small warehouse project.
The 6.3 hectare holding, 102-110 Glenroy Street, Pennington, three kilometres south east of Port Adelaide, cost $25.5 million following an off-market deal.
With 21,000 square metres, part leased to DHL, Pickles Auctions and Macro Meats, it will be extended about 10 per cent, with eight units to be offered for lease with occupancy at the end of the year.
Spreading between 2100-3100 sqm, each will contain about 230 sqm of offices, a 250 sqm gated loading dock and 3-phase power.
The warehouse is full-drive around.
The property also includes a shared car park (story continues below).
Leedwell’s Anthony De Palma and Jamie Forwood are marketing the project branded Merlino Pennington Estate.
In Eastern Parade, Port Adelaide, Merlino is completing 16 small warehouses, from 507-1202 sqm, also with high quality offices.
Elsewhere in Adelaide’s north recently, Singapore’s Straits Real Estate sold a Visy-backed Kilkenny warehouse for $52.7m – an 18pc discount to the ($64.3m) December, 2023, book value.
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