The offering represents a rare opportunity to secure a freestanding 2 level holding set on a valuable Torrens-titled Allotment of approx. 509sqm, with impressive frontages to both Grote Street & California Street, located right in the heart of Adelaide's renowned Central Market & Chinatown Precinct, metres away from Victoria Square & King William Street.
The property is currently leased to 5 well established Tenants, with a passing rental income of $483,570.00 PA + GST + recovery of certain outgoings. A portion of Level 1 is vacant and the imputed passing rental is say $527,000.00 PA + GST + recovery of certain outgoings.
A summary of the existing leases can be provided to genuine parties on request by contacting the Sole Selling & Managing Agents.
The property will appeal to long term Local or Interstate Investors seeking to acquire a strategic property in a guaranteed growth location with stable income stream and future developmental options as well. No Stamp Duty is payable on the sale of Commercial property in SA.
The property is adjacent to the Central Market which is earmarked for redevelopment. The land is zoned Capital City Zone 14 - Main Policy Area within the City of Adelaide.
A truly rare opportunity in this tightly held/desirable location.
For further details please contact the Sole Exclusive Selling Agents, George Zogopoulos 8410 6444 or 0412 824 278.