David Ente of Commercial Adelaide says the city’s commercial property market is stable though there are preliminary indicators that some of the heat may be coming out of the market. As David explains, “Interest rates finally seem to be biting”. The team at Commercial Adelaide have experienced solid results particularly in the industrial market though here too enquiry numbers are starting to soften making now a good time for both tenants and buyers to secure their ideal property. The recent sale of 3 Kiwi Court, Lonsdale is indicative of the resilience of the Adelaide market. The property features an industrial warehouse of 1,250 square metres on a land area of 2,465 square metres. The property, which was sold for $1.65 million prior to auction, boasts a long-term lease to a longestablished tenant. The current lease is for $100,000 plus GST per annum. Rent is reviewed annually to 4% with a market review at the commencement of lease terms. The current lease is due to expire in late 2028 with two five-year options to renew. David Ente david.ente@rhc.com.au Adelaide Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook For more information, contact: Office Industrial Retail Rents p/m² $200-$400 $95-$160 $200-$600 Vacancy 16-24% <5% 5-10% Yields 6-7% 5-6% 5-6% Rates p/m² $3,500-$5,500 $1,500-$2,000 $3,500-$5,500 Current market conditions $1,650,000 3 Kiwi Court, Lonsdale Recent Notable Transactions SOLD $4,975,000 724 Port Road, Beverley SOLD South Australia | 35
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