STRATEGIC GROTE STREET CORNER SITE WITH HOLDING INCOME
For Sale by Expression of Interest, Closing 4pm Tuesday 19th March 2019.
JLL is favoured with instructions from the registered proprietors to offer for sale one of the highest profile and most spectacular development sites in the Chinatown district of the Adelaide CBD.
145 Grote Street is a key high profile site situated on the corner of Grote Street and Morphett Street just a stone’s throw from the Adelaide Central Market, Chinatown and the developing precincts in the west end of the CBD.
This is an iconic location enjoying the benefits of wide street frontages to both Morphett and Grote Streets, and boasting a total site area of approximately 1,200 square metres.
Astute purchasers will recognise the benefits of holding income from the longstanding tenant, Kennards Hire, but ultimately understand the medium term development options for the site which, subject to normal statutory consents, may include:
- Residential high rise apartments
- Short term visitor accommodation including hotel and serviced accommodation
- Student accommodation
- Commercial offices
It is easy to recognise the trophy nature of 145 Grote Street and we highlight the key property features below:
- Frontage to Grote Street of over 35 metres
- High profile corner location with key Grote Street address
- Total site area of circa 1,200 square metres
- Holding income from Kennards Hire of some $220,000 (approx)
- Flexible Capital City Zoning with prescribed height limits of 53 metres
JLL is exclusively appointed to offer 145 Grote Street, Adelaide for sale by Expression of Interest, closing 4pm Tuesday 19th March 2019.
For more information or to arrange an inspection please contact the agents.
JLL RLA 1842
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