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215 Grote Street, ADELAIDE, SA 5000

2. Property Highlights

  • 7-year lease expiring 31st October 2026
  • Capital City Zoning allowing development
  • 2,787sqm* site area

CBRE Capital Markets is thrilled to be favored with instructions for the sale of 215 Grote Street, Adelaide currently under a long-term lease to Early Settler. 215 Grote Street is exceptionally well-situated to the West of the Adelaide CBD, in an established commercial precinct in very close proximity to Chinatown, Adelaide Central Markets, West Terrace & just 900m* from the Adelaide BioMedical Precinct.

Underpinning the exceptional location is the underlying land value with a total site area of 2,787sqm* within a flexible zoning. The building consists of multiple levels with varied improvements including showroom, offices, warehousing & café.

We further highlight the below key features of the property that is the perfect definition of an ‘invest now, develop later’ property:

• Net rental of $580,117pa*

• Leased to ESR Group Holdings Pty Ltd trading as Early Settler with over 50 stores across Australia & New Zealand

• 215 Grote Street is Early Settler's flagship South Australian store, where they have been in occupation for 32 years

• 7-year lease term expiring 31st October 2026 with further 5-year option

• Site area of 2,787sqm* and GLA of 3,182sqm*

• Flexible Capital City zoning in the west end of Adelaide CBD allowing development up to 53m*

• Two Certificates of Title with three street frontages

• CPI rental increases annually

• Redevelopment Clause within the lease with 18-month notice period

• Tenant pays all outgoings including Land Tax on a single-holding basis

For Sale via Expression of Interest closing Thursday 24th November 2022 at 4:00pm

Please contact the sole marketing agents with any other questions:

Harry Einarson: +61 421 747 442

Mitch Curnow: +61 415 494 056

Ned Looker: +61 448 689 573


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3. Property Location

215 Grote Street, ADELAIDE, SA 5000

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4. Due Diligence

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215 Grote Street, ADELAIDE, SA 5000 Adelaide Cbd