MHD INDUSTRIAL PROPERTY
ADELAIDE’S NORTH HOLDING SOUGHT-AFTER INDUSTRIAL ASSETS
Steve Smith, partner at real estate agency Leedwell speaks to MHD about Adelaide’s Vicinity Industrial Base where a large industrial building is up for grabs; the Northern Connector, a piece of infrastructure that’s closed the gap between the inner and outer northern markets; and the high demand for land in the city’s north where stock is low.
L
eedwell is managing the leasing of an existing building within Vicinity Industrial Base (VIB) in Adelaide’s north. Steve Smith is a partner at the company who has been front and centre of a significant increase in sales and leases across the South Australian capital city’s industrial market during the past two years.
ADELAIDE’S NEW INDUSTRIAL ESTATE Steve says the 2-8 Mirage Road facility in Adelaide’s Direk is the only property available in the city’s existing highquality industrial estate. It’s unique because it’s one of the only buildings of such quality and size that’s available in the whole Adelaide market.
He notes it presents as a modern office warehouse that is just under 7000 sqm and is situated on a 20,000 sqm site. Its current occupier is Toll who is due to relocate in September. He adds the reasons why companies will gravitate towards the site are because they will be looking for a highquality facility with larger than normal hardstand provisions and other features including a weighbridge, recessed loading docks, high internal clearance, and a large awning over the loading and unloading areas. “It has all the relevant operational items that allow logistics operators to just come in, turn the lights on, fill the warehouse up and start operating,” Steve says.
Steve adds that Direk is considered the emerging premier logistics location in Adelaide. The property will become available for lease from October onwards. Steve says it will attract occupiers in the logistics, e-commerce, and warehousing spaces. Leedwell has been involved with over 50,000 sqm of leasing in Direk and Edinburgh over the past 18 months. It believes the connectivity of the region and more competitive rental rates are undeniably the key reasons tenants are attracted to relocating there.
THE NORTHERN CONNECTOR The Northern Connector was completed in 2020. Steve attributes it to being the catalyst for
Direk is considered the emerging premier logistics location in Adelaide. MHD JUNE 2022 | 17
