Adelaide’s landmark Le Cornu furniture site in Forestville has been listed for sale for the first time in more than 40 years.
CBRE and JLL have been jointly appointed to sell the 3.6 hectare Anzac Highway landholding, which represents one of the largest inner metropolitan redevelopment sites in Adelaide.
While the site has an existing lease agreement in place providing substantial holding income, proposed town planning amendments would allow for a future medium/high density residential development and mixed use options.
This is expected to underpin significant developer interest in the site, which is on the market through CBRE’s Phil Rundle and Ben Heritage together with JLL’s Jamie Guerra and Roger Klem.
The 10 Anzac Highway site is offered for sale on behalf of the estate of the late Lance Le Cornu, who sold the furniture business to Fantastic Holdings in 2008. The Forestville land was retained and leased to Fantastic, with the company having since traded from the site under the Le Cornu name.
“For many decades Le Cornu has been one of the most recognised names in Adelaide as a result of both the company’s dominant position in the furniture industry and the iconic sites they have owned and operated over the years,” Mr Rundle said.
“In the case of Forestville, the site’s profile and future development potential positions this as the most exciting opportunity available in inner metropolitan Adelaide.”