MHD INDUSTRIAL PROPERTY
A NEW WAVE OF DEVELOPMENT OPPORTUNITIES A new flexible warehouse facility is set to become available in Port Adelaide’s premier distribution centre. MHD talks with Quintessential Equity and Leedwell about how intelligent warehouse development can help solve the lack of available space on the market.
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eedwell has been a major player in the South Australian Industrial and Logistics market for over ten years. Under the guidance of Partner Steve Smith, the same four-agent industrial team has been closing deals together for eight years – a testament to their synergy as a team, according to Henry Treloar, Leedwell Director – Industrial. “We cover all sectors of the market in terms of industrial size range,” Henry says. “We’re an established team. Instead of being competitive with each other we are out on the ground, focusing on deals. It’s something that we pride ourselves on, and we have a strong market share in Adelaide.” Recently, supply has struggled to keep up with demand for warehouse space in the South Australian market, especially within 10 kilometres of the Adelaide CBD. A myriad of recent studies indicates the e-commerce shift continues to gather steam, suggesting the demand for automated fit-outs won’t dry up any time soon – if ever. Henry notes property developers like Quintessential Equity are beginning to read this trend in the market, making their own room for warehouse operations. “It’s something we haven’t seen in our market for close to seven years now,” he says. “The groups who are speculating buildings is exciting because we do have a shortage of quality facilities in our market.”
PORT ADELAIDE DISTRIBUTION CENTRE Since acquiring the logistics estate in 2019, Quintessential Equity has
An outdoor café outside Warehouse M will be the first in the estate.
With 12 separate buildings, PADC occupies 319,300 sqm of land.
retained and brought on a number of major logistics players. Julian McVilly, General Manager - Asset Management of Quintessential Equity, says through working with Leedwell and CBRE as leasing agents, the available properties on site are now 100 per cent occupied. “We initially had an expectation we were going to have large vacancy,” he says. “But Leedwell’s relationships and experience have been fundamental with shoring up any vacancy.”
The estate includes a series of office warehouse buildings, providing a variety of applications to suit the needs of medium to large tenancy requirements. With areas ranging from 2516 sqm to 20,770 sqm, some of the estate’s features include: • Multiple at-grade loading access points • Generous internal road networks and multiple road crossovers MHD FEBRUARY 2022 | 33
