JLL is pleased to present 861-871 North East Road, Modbury for sale by Expression of Interest. Whether seeking a significant development opportunity of scale or a fully leased investment with strong underlying land value, this property appeals to the most astute purchasers.
Comprised across four Certificates of Title and configured as a local shopping centre with a GLA of 602sqm* configured as eight tenancies along will three residential dwellings. Available ‘in one line’ or individually may be considered.
Partial Local Activity Centre zone with a rezoning application in process for the whole property to fall under this flexible zoning. This zoning allows for a range of uses or take advantage of the existing Development Approval and Planning Consent for a three-level mixed use development.
We highlight the key property features below:
· Significant total site area of 4,181sqm* with a 113.39m frontage to North East Road
· Fully leased with an attractive gross income of $238,132 pa*
· Four Certificates of Title and four individual properties providing flexibility
· Shovel ready Development Approval and Planning Consent for a three-level mixed use development
· Strong redevelopment potential with an existing approval in place and rezoning application underway
· No stamp duty payable on commercial property transactions in South Australia
The total property holding has been acquired over many years and together presents a rare site of significant scale, which in this location is highly sought after but seldom offered to market.
The property is offered for sale by expression of interest closing 4pm (ACDT) 19 March 2024.
For more information or to arrange an inspection, please contact exclusive selling agent JLL.
*Approx
JLL RLA 1842
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