Colliers says it has appointed Tom Barrett, Associate Director and Chris Clemente, Executive to sell 54 Francis Road, Wingfield by Expression of Interest closing Wednesday August 31, 2022, 3pm (ACST).
The investment and management company notes the agents are selling it on behalf of the vendor with the fully leased industrial property in the heart of Wingfield, which offers investors a secure tenant in a popular industrial precinct.
“54 Francis Road, Wingfield offers a regular shaped allotment of approximately 4027 sqm, which accommodates approximately 2393 sqm office warehouse,” Tom says.
“Protective coating business Defence Coating Systems are a long-time occupier and pay an annual rent of approximately $163,000 per annum on a five-year lease commencing 1 November 2021,” he adds.
Colliers says Tom and Chris expect the property to attract some strong interest from local and interstate investors, particularly with the tenants’ long-term links to the defence industry.
“This is an outstanding property which offers a high-calibre, longstanding tenant in Defence Coating Systems, quality improvements, secure financial income and sought-after proximity to major northern arterial routes,” Tom says.
“The Adelaide industrial property market is considered as the most highly sought-after asset class, with very limited investment opportunities, we expect significant interest in this asset.”
Defence Coating Systems is a well-established South Australian business specialising in providing protective coating solutions to their clients.
For more information on Colliers, click here.