_Industrial development for lease in Adelaide’s north to generate significant occupier interest

• Space in an industrial development at 32-42 Mirage Road in Direk within the Vicinity Industrial Estate is up for lease
• The development offers five corporate office warehouse units of around 1,800sq m each, but they can be combined to create larger spaces of up to 8,500sq m
• Development approval for the units has been granted, with construction underway and practical completion expected for next month
• The space, which is expected to satisfy some of the strong demand for industrial space in the undersupplied Adelaide market, is being marketed for lease by Knight Frank

Adelaide, Australia – SPACE in a new industrial development in Adelaide’s outer north is up for lease, with strong demand expected as the sector continues to experience a shortage of supply.

The project at 32-42 Mirage Road in Direk, within the masterplanned Vicinity Industrial Estate, is offering five corporate office warehouse units of around 1,800sq m each, but they can be combined to create larger spaces of up to 8,500sq m.

Development approval for the units has been granted, with construction underway and practical completion expected for next month.

The space is up for lease via an Expressions of Interest campaign being run by Knight Frank agents David Ludlow and Marco Onorato.

Leasing rates for the space range $105 to $135sq m, depending on the final layout.

Mr Ludlow said the development offered industrial users an opportunity to occupy a brand new, first-class logistics facility in a great location.

“We are expecting significant interest from a range of industrial users for this space that is available now given the imbalance between demand and supply in Adelaide’s industrial market, with a shortage of stock,” he said.

“Vacancy is at an all-time low and there isn’t enough stock being released to the market, with rising interest rates and the cost of construction holding up some speculative developments.

“This development will offer industrial space constructed to a high standard, and at this stage there is still time for tenants to implement some slight amendments, customisation or additions to the built form to suit.”

Mr Onorato said Direk was just 25 minutes north of the Adelaide CBD and was situated in the Vicinity Industrial Estate, which was sold out.

“The development is strategically located, benefitting from unparalleled access to the national highway network including the recently completed Northern Connector, the Northern Expressway and Port Wakefield Road,” he said.

“Vicinity is also the only industrial estate in the outer north with Level 3 B-Triple Road Train access, which is a huge plus for industrial occupiers.”

Other occupiers in the Vicinity Industrial Estate include Toll, SCF, Rand, Caltex and Apex.

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For further information, please contact:

Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 16,000 people operating from 384 offices across 51 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors and corporate tenants. For further information about the firm, please visit knightfrank.com.