PRIME DEVELOPMENT ALLOTMENT IN ADELAIDE'S SOUTH END : CORNER SITE OF 760 M2* IMPRESSIVE HOLDING INCOME - UP TO 53M HEIGHT DEVELOPMENT (STCC)
Raine & Horne Commercial SA are proud to offer for sale this exceptional potential development site in Adelaide's CBD location.
Located meters from the GPO, law Courts, Central Market and a short walk or tram ride to Adelaide's premier shopping precinct, Rundle Mall and Adelaide Oval.
The property comprises prominent corner allotment of approximately 760 m2 with a frontage to Gilbert Street of 24.69 m and a frontage to Tapley Street 0f 30.78 m.
Currently leased to Prohibition Liquor Co Pty Ltd for s term of 5 + 5 + 5 years commencing 1st August 2019. The lease has a development clause which can be exercised after July 2026 providing ample opportunity for planning approvals etc whilst collecting good holding income (circa $100,000 pa net).
Zoning: Capital City Zone allowing up to 53m height development (subject to usual consents)
*All areas/dimensions approximate