A huge $27.5m sale has quietly taken place in Adelaide’s south, with a 3.3ha site changing hands in a confidential off-market arrangement.
The fully-leased campus-style call centre anchored by Westpac Banking Corporation sits within the Bedford Park Science Park at 7 Laffer Dr, Bedford Park and features a 6639sqm purpose-built facility with 520 onsite car parks.
It commanded a whopping $4,142 per sqm, reflecting the strength of Adelaide’s commercial market and was a vote of confidence in Adelaide’s southern commercial precinct.
The property was sold off market confidentially by KM Property Funds through JLL’s Ben Parkinson and Jack O’Leary, and Leedwell’s Jamie Guerra, Andrew Zammit and Mitch Curnow to a private investor.
7 Laffer Dr, Bedford Park. Supplied
Mr Guerra said the sale showed the region’s ongoing transformation was attracting investment.
“Major infrastructure investment continues to drive the precinct’s growth, with the completed Flinders Link Project now providing direct rail access to the Adelaide CBD,” he said.
“The $1.5 billion Flinders University Bedford Park Campus redevelopment will add further momentum, establishing South Australia’s largest integrated health and education precinct.
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“The underlying land value and Strategic Innovation zoning provide scope for future redevelopment of up to ten levels, subject to council approval, supporting mixed-use outcomes across health, education, residential and commercial uses.
“It’s a standout example of a secure investment with outstanding potential in one of South Australia’s fastest-evolving precincts.”
7 Laffer Dr, Bedford Park. Supplied
Mr Parkinson said the sale proved income-producing assets on large landholdings in areas with long-term development potential were always in demand.
“This result speaks volumes about the strength of Adelaide’s southern corridor and continued demand for well-located assets backed by national tenants,” he said.
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“The site’s significant landholding, zoning flexibility and strategic position between Flinders University, Flinders Medical Centre and the Tonsley Innovation District make it an exceptional long-term investment.”
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