The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
IndustrialClare BurnettSun 17 Nov 24

Trilogy Reaps Windfall with $20m SA Warehouse Sale

Trilogy Adelaide EDM

Trilogy Funds has reaped a windfall in Adelaide, selling an industrial site it paid $14 million for in 2018 for $20 million.

The two warehouses at 113-117 Bedford Street in the north-western suburb of Gillman are 11.5km from the CBD on a 1.49ha site.

Adelaide property syndicate Harmony Property Investments acquired the site in an off-market deal, negotiated by Max Frohlich and Ryan Mills of Knight Frank.

National packaging distributor Plasdene Glass Pak and national tyre wholesaler Tyremax leases one of the warehouses, which offer 6400sq m of net lettable area (NLA), while the other has 2450sq m of NLA and is leased to Plasdene Glass Pak. 

Collectively they provide a WALE of 4.64 years.

Trilogy Funds Manager Property Funds Laurence Parisi said the sale price represented a 13 per cent premium to the latest external valuation of June 30, 2023.

null
▲ Despite a rise in vacancy, industrial rents in Adelaide rose in the second quarter with prime net face rents increasing 3.7 per cent.


“The sale of the Gillman property is demonstrative of strong market conditions in the industrial property sector, and a testament to our selection criteria” Parisi said.

“It is a high-quality asset, in a recognised location with great connectivity—and we identify these characteristics as big drivers of demand for properties.”

Trilogy Funds recently acquired a 3.8ha multi-warehouse property leased to surf brand Quiksilver. 

As at September 30, Trilogy’s Property Trust included 15 assets with a total value of $279.5 million.

According to Knight Frank’s Australian Industrial Review for the second quarter of this year, Adelaide’s industrial market is picking up steam and there was significant improvement over first quarter sales—in the period just nine transactions were recorded for a value of $93.3 million. 

Vacancies, however, continued an upward trend despite increased takeup. 

IndustrialAdelaideDeal
AUTHOR
Clare Burnett
More articles by this author
ADVERTISEMENT
TOP STORIES
PGIM Real Estate Reimagines 444 queen street to 450 queen street brisbane
Exclusive

Coming, Ready or Not: Relic Stripped to Bone for Green Glow-Up

Renee McKeown
5 Min
Darwin has sat dormant for a decade but the resource rich territory is “on the threshold” of a boom for resources and new cities. Weddel and Palmerston
Exclusive

NT Eyes Looming Boom as Planning Commissioner Bows Out

Renee McKeown
5 Min
Exclusive

Gold Coast’s Greatest Moments Yet to Come: Evan Raptis

Phil Bartsch
7 Min
MODEL founder Rory Hunter HERO
Exclusive

‘It’s Massive’: On Mission to Prove BtR Green Equals Gold

Leon Della Bosca
8 Min
Potts Point Coliving EDM
Exclusive

Co-Living Shrugs Off Stigma as Overseas Money Moves In

Clare Burnett
6 Min
View All >
Placemaking

Restaurant Revival Slated for Derelict Wynnum Ice Works

Taryn Paris
Cavill Lane HERO
Retail

Surfers Paradise Retail Asset Changes Hands for $31m

Leon Della Bosca
Main Beach Odus Ari Tower Site Deal hero
Residential

Odus Doubles Down in $55m Main Beach Tower Site Deal

Phil Bartsch
The plan is to progress the existing greenlit plans for the $290 million scheme comprising 31 luxury half and full-floor…
LATEST
Placemaking

Restaurant Revival Slated for Derelict Wynnum Ice Works

Taryn Paris
2 Min
Cavill Lane HERO
Retail

Surfers Paradise Retail Asset Changes Hands for $31m

Leon Della Bosca
3 Min
Main Beach Odus Ari Tower Site Deal hero
Residential

Odus Doubles Down in $55m Main Beach Tower Site Deal

Phil Bartsch
3 Min
Office

A-Grade Perth Office Tower Comes to Market

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/adelaide-trilogy-funds-warehouse-sale-gillman