Occupiers unite for double fronted Adelaide warehouse

One of the two buildings at 125-131 Rundle Street.

Operators of two businesses teamed to buy a double fronted warehouse in Adelaide’s inner east, to occupy.

On Adelaide’s eastern fringe, the Kent Town site (outlined) has development upside.

The Kent Town property, 125-131 Rundle Street, cost $7.25 million.

Across two titles, it was offered was a whole.

The result prices land at $3700 per square metre, JLL’s Ben Parkinson, the marketing agent with Jack O’Leary and Claudia Brace, said.

“The property provided 1938 sqm of prime site area in the sought after and continually evolving CBD fringe…just over a kilometre…of the amenity of the Adelaide CBD and a short walk to The Parade, Norwood,” he added.

Also fronting Little Rundle St, it is zoned Urban Corridor, potentially able to yield a five storey building, according to the executives (story continues below).

Existing improvements – an office and workshop – contain 1300 sqm.

Ms Brace said the area is seeing a wave of major residential developments.

“Kent Town continues to evolve and is home to a mix of uses including medium density residential, medical, boutique commercial, retail, restaurants and cafes providing unparalleled access to amenity,” she added.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.