Major $27.5 million Bedford Park commercial site changes hands – realestate.com.au

A huge $27.5 million sale has quietly taken place in Adelaide’s south, with a 3.3 hectare site changing hands in a confidential off-market deal.

The fully-leased campus-style call center, anchored by Westpac Banking Corporation, is located in the Bedford Park Science Park at 7 Laffer Dr, Bedford Park and features a 6,639 sq m purpose-built facility with 520 on-site parking spaces.

It cost a whopping $4,142 per square meter, reflecting the strength of Adelaide’s commercial market and a vote of confidence in Adelaide’s southern commercial district.

The property was sold confidentially off-market by KM Property Funds through Ben Parkinson and Jack O’Leary of JLL, and Jamie Guerra, Andrew Zammit and Mitch Curnow of Leedwell to a private investor.

Mr Guerra said the sale shows that the region’s ongoing transformation is attracting investment.

“Major infrastructure investment continues to drive the precinct’s growth, with the completed Flinders Link Project now providing direct rail access to Adelaide’s CBD,” he said.

“The $1.5 billion redevelopment of the Flinders University Bedford Park Campus will provide further impetus and establish South Australia’s largest integrated health and education precinct.

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“The underlying land value and strategic innovation zoning provides scope for future redevelopment of up to ten levels, subject to council approval, and supports mixed-use outcomes across healthcare, education, residential and commercial uses.

“It is an excellent example of a safe investment with excellent potential in one of South Australia’s fastest developing areas.”

7 Laffer Dr, Bedford Park. Delivered

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Mr Parkinson said the sale proved that there is always demand for income-generating assets on large landholdings in areas with long-term development potential.

“This result speaks volumes about the strength of Adelaide’s southern corridor and the continued demand for well-located assets, supported by national tenants,” he said.

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“The significant land holdings, zoning flexibility and strategic location between Flinders University, Flinders Medical Center and the Tonsley Innovation District make it an exceptional long-term investment.”