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215 Grote Street, ADELAIDE, SA 5000

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215 Grote Street, ADELAIDE, SA 5000

215 Grote Street, ADELAIDE, SA 5000

Properties / Sold / South Australia / Adelaide Cbd
Development Potential

1. Property Summary

Property Type
Commercial
Sub Type
Retail/Shopping Centre
Land Area
3,182 m² (*approx)
Zoning
CC
Local Government
Adelaide
Selling Method
Expressions of Interest: Closing Thursday 24th November 2022 at 4:00pm
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2. Property Highlights

SECURE CITY INVESTMENT WITH MASSIVE DEVELOPMENT POTENTIAL
  • 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

*Approx

Remember to mention you found this property on DevelopmentReady

Read More

1. Property Summary

Property Type
Commercial
Sub-type
Retail/Shopping Centre
Land Area
3,182 m² (*approx)
CC
Local Government
Adelaide
Selling method
Expressions of Interest: Closing Thursday 24th November 2022 at 4:00pm

2. Property Highlights

SECURE CITY INVESTMENT WITH MASSIVE DEVELOPMENT POTENTIAL
  • 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

*Approx

Remember to mention you found this property on DevelopmentReady

Read More
Development Potential

3. Property Location

215 Grote Street, ADELAIDE, SA 5000

Property Map

4. Due Diligence

Site Report Available

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Report Contains

Site Report Available

  • Site Summary
  • Development Pipeline
  • Recent Transactions
  • Surrounding Amenity
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215 Grote Street, ADELAIDE, SA 5000 Adelaide Cbd