COMPETITION between local and interstate developers is brewing for the former CBD property of failed family retailer Trims. The historic Trim's Corner site on King William St was home to the retailer's flagship store for more than 75 years before the retail company was placed in administration in May. Owned by a separate but related entity in receivership, A.E. Trim Nominees, the corner site comprises 1490sqm and has already sparked the interest of some of the city's prominent developers. In August, Melbourne-based developer Asian Pacific Group made its second play in Adelaide - paying $5 million for the former Hills site located just 300 metres south of the Trims site. Chief executive Will Deague said he was looking to expand the developer's footprint in the CBD and the Trims site was of interest. "Yeah definitely - we've been eyeing that site for a while," he said. We'd probably look at doing something similar to King William St (former Hills site), or maybe a hotel play, we're looking at doing an Art Series in the CBD. Asian Pacific is planning a residential tower for the former Hills site which comprises 1653sqm of vacant land. The Trims site is expected to fetch a comparable price given its proximity to the city's core. Jones Lang LaSalle director Roger Klem, who is marketing the site, is confident it will attract broad interest given its proximity to the State Government's proposed courts precinct. "The site provides an incredible opportunity for astute purchasers to potentially acquire and redevelop the site for a myriad of uses," he said. Located just south of Carrington St, the property attracts a 53 metre height limit but Mr Klem said there was a case for relaxation given the property's size, location and layout. "The planning instrument relaxes height restrictions for those sites in the current policy area greater than 1500sqm with two or more street frontages," he said. Given the Trims site has three street frontages and is almost 1500sqm we envisage that the planning authority may be favourable to development beyond the current 53 metre height limit. Developer of the Rowlands Apartments, Mandala Developments has been circling several Adelaide sites in recent months, including Tangcheng's Waymouth St site west of Light Square. Chief executive Loris Rigon expects the Trims site to attract significant interest from Adelaide-based developers. "We're keen to go and have a look at it and put in a bid - the site has mixed development potential," he said. We are on the lookout for sites - location, size of the site - for me they're good deals. Ferrier Hodgson's Martin Lewis has been appointed receiver of A.E. Trim Nominees and confirmed that the entity's only other asset - a strata office in the Aurora on Pirie building - was under contract. The company paid more than $588,000 for that property in 2009. Shop fittings, plant and equipment inside the existing Trims building will be auctioned tomorrow as part of the liquidation of the retail entity. Expressions of interest in the Trims site closes at 4pm on Friday, November 15.