An industrial development site in Adelaide’s south in close proximity to a large planned new housing community is expected to generate strong buyer interest during the sale campaign.

The 3,330sq m property on a freehold title at 42 Chapman Road in Hackham is being taken to the market via an Expressions of Interest campaign run by David Ludlow and Marco Onorato of Knight Frank.

Price expectations are in excess of $800,000.

The development site is serviced and ready to occupy and would suit a range of users, ranging from light Industrial or commercial developments.

Mr Ludlow said the development site was situated near Main South Road, providing ease of access for industrial users, as well as being close to a new masterplanned development.

“A 1000-home community is planned for a 68-hectare parcel of land bordering Main South Road in Hackham, forming part of a wider 235-hectare land release that will see a further 1000 homes constructed on neighbouring private holdings across Hackham and Old Noarlunga,” he said.

“Not only will this provide proximity to employment for future industrial users at 42 Chapman Road, but it means the site is part of a rapidly expanding precinct, which underpins its value.”

Mr Onorato said interest from a range of buyers, including owner occupiers, investors and developers, was being fielded for the Hackham development site.

“We are seeing strong demand in 2024 for development sites from owner occupiers and developers, particularly for sites in close proximity to main roads, population centres and in sizes of sub 10,000 square metres. This offering ticks all three of these boxes.

“We have seen high levels of industrial development over the past four years in Australia in response to demand from occupiers, and we believe the demand for new facilities will continue to be strong this year as occupiers look for high-quality facilities and population growth continues.

“We also expect industrial rents to keep rising in response to demand.”

Knight Frank’s recently released Australian Horizon 2024 report found industrial property rents in Australia were expected to continue growing this year despite several years of sustained and substantial growth.

Adelaide is predicted to see industrial rental growth of 3% in 2024 after recording a 10% rise in 2023.

The Expressions of Interest campaign for the Hackham property will close at 3pm on Thursday, February 29.

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