Remediated development site available in Adelaide market

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)