On behalf of our valued client, LJ Hooker Commercial is pleased to present to the market for sale, Lots 1,4 & 5 Corner Grenfell Street and Frome Street, Adelaide by way of private treaty.
Located in the prominent and desired east end of the Adelaide CBD, up for sale are three Community Strata Titled units located within a mixed use residential and commercial building. Ideally located and well positioned is a change to own a fantastic leased investment.
Presently, the property is approximately 73% leased to three individual tenants which include oOh! Media, Bodycentric and Metro Homes offering a solid income stream. In additional is the opportunity to either occupy the high profile front tenancy along Grenfell Street or further increase the income.
Convenient City Location – The building is prominently located on the south eastern corner of Frome and Grenfell Streets. The location provides excellent amenity, convenience and accessibility for the building's occupants and their clients. A short walk from cosmopolitan Rundle Street East, the property has an outstanding array of restaurants, cafes, wine bars, hotels and retail shops at its doorstep. The property's local offers the accessibility and convenience of a fringe position, whilst still being part of the city's commercial core.
Furthermore, the property is positioned to take advantage of the $672 million Lot Fourteen Urban Renewal Project. With construction well on the way the development showcases one of the most exciting Urban Renewal Projects in Australia. The development is poised to showcase a diverse mix of industries such as space, defence, hi-tech and creative industries.
The property features the following key characteristics:
- 723m2 lettable Area* across three units
- Prominent frontages to both Grenfell Street and Frome Street
- Exposure to 22,400* vehicles, daily
- Zoned Capital City
- Well regarded East End position
- Strong Holding Income
- 9 on-site car parks
- Separately zoned reverse cycle air-conditioning
- Estimated fully leased in excess of $212,449.69 net
- Zero Stamp Duty in South Australia
FOR SALE BY PRIVATE TREATY
Option to purchase in one line or individually.
Leasing enquiries welcome for Lot 1. Which comprises a 184m2 on the corner of Frome Street offering absolute prime exposure, on a major bus route.
Contact Charles Parletta 0412 825 186 or Mark Tettis 0433 139 892 for more information.
*Approximate
** All information provided has been obtained from sources we believe to be accurate, however, we cannot guarantee the information is accurate and we accept no liability for any errors or omissions (including but not limited to a property's land size, floor plans and size, building age and condition). Interested parties should make their own enquiries and obtain their own legal advice.
RLA 231 015