Prime Pennington development site 10km north-west of CBD
News release
13 August 2024
Remediated development site available in Adelaide market
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JLL SA has been appointed to market a prime Pennington development site 10km north-west of the CBD.
JLL Director—Sales and Investments Jack O’Leary said the 2348 sqm corner site at 63-69 Addison Road is a regular-shaped allotment with the potential for a residential or commercial development (STA).
With a 61m frontage to Addison Road and a 40m frontage to Hodgeman Road, the land is Zoned Local Activity Centre in the City of Charles Sturt allowing a height limit of 2 levels (STA) and has been remediated to a commercial standard.
“With the scarcity of quality development stock across metropolitan Adelaide 63-69 Addison Road presents an exciting opportunity for owner occupiers and developers to acquire this prime corner site,” Mr O’Leary said.
Mr O’Leary said Addison Road serves as a main thoroughfare between Grand Junction and Torrens Road with 17,200 vehicles passing daily. There are multiple Adelaide Metro stops on Addison Road and accessible by train via Woodville Park railway station about 3km from the site.
He said there is continuing strong demand for sites with high exposure, particularly on the western side of town. The site benefits from being within close proximity to local amenities such as Coles St Clair, Arndale Shopping Centre, Bunnings, Harvey Norman and a Guardian Pharmacy.
“The Torrens to Darlington project has played a significant role in this spike in demand, with more than 500 properties having been acquired and needing to relocate,” Mr O’Leary said.
He said an added benefit of the site is that there is no stamp duty on commercial properties in SA.
63-69 Pennington Road is for sale by Expression of Interest, closing Tuesday, 20 August 2024, at 4 pm (ACST)
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.