Colliers International leases more than 7,000sqm in Regency Park in 2015
Regency Park remains Adelaide’s industrial location of choice for local and national occupiers, with the area experiencing a flurry of activity in recent months.
Colliers International’s Paul Tierney and Tom Barrett have negotiated a series of leasing transactions totalling 7,070sqm of improvements on over 32,300sqm of land in Regency Park so far this year.
“Regency Park is clearly still considered one of Adelaide’s most sought after industrial locations,” Mr Tierney said. “It has always been a strong precinct with consistently low vacancy, driven by demand from occupiers who seek access to strong infrastructure and transport links.
“The new Superway has had a marked impact on demand, and upgrades to South Road are making the precinct even more accessible for heavy vehicles.
“Regency Park is well located just a 7km from the Adelaide CBD and is one of only a few precincts with road train acess, adding to the appeal for industrial and logistics users. Aldi”s distribution centre on Gallipili Drive is nearing completion, further demonstrating the strength of the location and infrastructure supporting it.
“We have experienced strong enquiry from existing users within the inner north industrial precinct, particularly transport and logistics users who are traditionally the most active occupier group in the area."
Colliers International has leased more than 7,000sqm of industrial space in Regency Park so far this year. Mr Barrett said all the leasing transactions were to strong covenants on long term leases.
“Interestingly, each of these transactions was a result of business expansion and a need for better accommodation – most importantly, with yard space,” Mr Barrett said.
• 27 Birralee Road: leased to Boom Logistics for an 804sqm facility on a 7,400sqm site
• 501 South Road: leased to RGM Maintenance for an 1,800sqm office-warehouse on a 7,000sqm site
• 24-26 Tikalara Street: leased to a government tenant for an 1,860sqm office/warehouse on a 6,500sqm site ,
• 260 Regency Park: leased to Detmold Packaging for a 2,605sqm facility on a 11,400sqm site
Mr Barrett said each of these properties had substantial yard areas, which was a key factor for the tenants in their property choices.
Above: 260 Regency Road
Above: 24-26 Tikalara Street
Above: 27 Birralee Road