Adelaide, 12 February 2015 – A high quality retail property in the heart of the bustling Glenelg precinct has been listed for sale, offering an opportunity to gain a foothold in one of Adelaide’s busiest shopping destinations.
Located at 136 – 142 Jetty Road and 144-148 Jetty Road, the 1,884sqm landholding is occupied by several established retailers including Hair Machine, Ian’s Shoes, the National Hearing Centre and Noni B Fashions.
CBRE’s Philip Rundle and Will Brown have been appointed to sell the property via an Expression of Interest campaign.
Mr Rundle said the sale offered a rare investment opportunity in one of Adelaide’s most sought after locations.
“This property represents an outstanding opportunity to gain a presence in the premier Jetty Road shopping strip in Glenelg. Its strong performing retail location and exceptional mix of tenants will be a major drawcard attracting buyers,” Mr Rundle said.
“We expect strong interest in this offering given its strong retail location and future development potential.”
Mr Brown said the property also offered significant value add opportunities.
“We see there being significant opportunity for both a long term hold proposition and a redevelopment play to upgrade the current improvements or take advantage of potential multi-level development opportunities (STCA),” Mr Brown said.
Jetty Road has long been one of Adelaide’s most sought after retail strips, home to around 350 businesses including a diverse range of local and national retailers, as well as some of the city’s best restaurants.
Expressions of Interest close March 5 at 4pm. For Australian/international news or global stories, follow us on Twitter. CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2014 revenue). The Company has more than 52,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 370 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.About CBRE Group, Inc.
