2-20 Magill Road, Norwood, SA 5067

It is with great excitement that the CBRE Team present 2-20 Magill Road, Norwood to the open market for sale. This is a site that has been in the spotlight of the market for many years and will now be sold for the first time in almost 40-years.

The site sits so proudly at the intersection of North Terrace, Payneham Road, Magill Road, and Fullarton Road, making it the gateway to the inner eastern suburbs. With the exciting Urban Corridor (Boulevard) zoning allowing a 10-storey development, there will be endless possibilities across the site as developers look to better activate the 1.38Ha site.

The opportunity isn’t solely limited to developers, with a strong ~$1.2m estimated net passing income, the site will be perfectly suited for land-banking investors who want to see the value uplift that our vendors have seen in the last ~40 years.

The property is comprised of four titles and will be offered to the market in one line or individually, allowing great flexibility to all interested buyers.

This is a site that you do not want to miss out on, highlighted by the below key points:

- 1.38HA* Site being offered in one line or separately

- 10 tenants offering a diverse income stream

- Redevelopment clauses across the site

- $1,204,052pa* estimated net passing income

- Urban Corridor (Boulevard) zoning allowing 10-storey development (STCC)

- Almost 370m combined frontage to Magill Rd, Fullarton Rd, and Chapel St

- Once in a lifetime purchase opportunity

The property is being sold via Expressions of Interest closing at 4:00pm on the 13th of June 2024.

To further discuss this historic site, please get in touch with the sole marketing agents at CBRE:

Ned Looker | 0448 689 573

Rhyce Scott | 0422 960 585

Oliver Grivell | 0478 069 579

Remember to mention you found this property on DevelopmentReady