The final stage of a $190-million industrial estate in Adelaide’s north-west has been completed.
Property fund manager ISPT said it had achieved practical completion of the final stage Charles Sturt Industrial Estate at 853-867 Port Road, Woodville.
ISPT holds about $2.9 billion in industrial assets and a 500ha land bank within its portfolio.
Charles Sturt Industrial Estate comprises 20 industrial tenancies spanning a total of 91,000sq m, equal to about five Adelaide Ovals.
The final development phase, which began in 2020, encompasses seven warehouses totalling 37,000sq m complemented by about 40,000sq m of hard stand, pavements and carparking, which were built by Sagle Constructions.
The estate is 8km north-west of Adelaide’s CBD and close to major transport hubs such as the Adelaide Airport and Port Adelaide.
The 23ha site was formerly owned by GMH and was acquired in 2001 by ISPT, which then embarked on a phased masterplan rollout.
The estate services defence and construction supply chains, large format retail, wholesale, logistics and freight, including top-tier customers such as Rohlig, Aerobond, Wilson Bradley, MacTaggart Scott, JB Hi-Fi, Ironman 4x4, Hare and Forbes.
ISPT said the project completion comes at a critical time for Adelaide’s industrial market, where the vacancy rate has tightened to 1.3 per cent in the first three months of the year, according to Cushman & Wakefield’s Marketbeat Adelaide Logistics and Industrial Q1 2024 report.
