Residential: Apartment Sites
HIGH YIELDING INVESTMENT WITH SIGNIFICANT DEVELOPMENT POTENTIAL
Outstanding near city super prime location only 2.5km from the CBD, less than 2km’s from the NRAH & Biomedical & Medical precinct, and only 4km from Adelaide International Airport. The site offers easy access to the Tram at either the Entertainment Centre or Thebarton Tram Stops as well as easy access to major arterial roads including South Road (main North-South Corridor) and Port Road.
This is a significant Island site bound by Holland Street, Winwood Street, Stirling Street & Anderson Street, Thebarton of 14,510sqm (1.45ha) made up of 11 CT’s with 19 Allotments. This multi tenanted commercial and industrial site produces significant income of $1.305m per annum net on a WALE of 2.5 years by income as at 1st October 2019. Thebarton Square is located in the heart of the prime western suburb of Thebarton only 2.5km’s from the CBD. Thebarton Square is located within the City of West Torrens council area and benefits from the flexibility of the Urban Corridor (Business Policy Area 37) zoning which will accommodate mixed use development including residential up to six levels (STNC).*
Thebarton Square is strategically positioned in the attractive inner western suburb of Thebarton, providing strong transport connection due to its proximity to Port Road, being the major east-west carriageway into the city from the Port of Adelaide and Defence precinct in Outer Harbour and the north-south connector South Road, which is the major spine currently undergoing significant upgrades to create a nonstop corridor from north to south.
The sites location adjacent to the parklands and within 200 metres of the City Tram, connecting to the CBD, it also offers direct access to the Torrens River Linear Park Pedestrian & Bicycle lanes connecting to the coast to the west and foothills to the east including access to the CBD.
Thebarton as a suburb is an evolving location with recent rezoning changes unlocking substantial redevelopment opportunities. The precinct has seen a major change driven by the development of the State Government’s Bowden precinct, which is an urban renewal inner city model currently housing some 700 plus new residents over hundreds of new houses, townhouses and apartments.
Longer term the Urban Corridor Thebarton precinct is ideally suited to mixed use development, including high to medium density residential, designed to cater for singles, young families, older residents downsizing and those who value the lifestyle so close to the city with the convenience of the parklands. The flexible zoning also allows for a mix of compatible non-residential uses that enable people to work, shop and access a range of services close to home.
Major infrastructure within the area includes the Adelaide – Glenelg tramline, The Entertainment Centre, Plant 4 Bowden, Brickworks Marketplace, the new Royal Adelaide Hospital (NRAH) and the major Universities located on North Terrace.
This is rare opportunity to secure a high yielding commercial and industrial investment with a diverse range of occupiers that is underpinned by high land value with ability to capitalise on the existing infrastructure in a developing suburb so close to the CBD and major infrastructure upgrades.
If you would like more information or to arrange an inspection please contact the listing agents
Remember to mention you found this property on DevelopmentReady.com.au