Adelaide, 12 April 2016 – One of the most recognisable office landmarks in Adelaide’s western suburbs is being offered for sale, representing an outstanding investment opportunity in the tightly held Hilton precinct.
Strategically located on the corner of South Road and Sir Donald Bradman Drive, the 2,547sqm property comprises six strata titled units, and is home to 10 individual tenancies.
CBRE’s Ben Heritage and Will Brown have been appointed to sell 69 Sir Donald Bradman Drive via an Expression of Interest campaign on behalf of its offshore owner.
The property, which is located on a 4,010sqm landholding, is 93% leased to nine reputable tenants, including; Actron Engineering, Yaran Business Services, MAS National, Optus, OICS Catering, Clipsal, Carey Training, Workpac and Sean Kim.
Mr Heritage said the property represented a quality investment opportunity in one of Adelaide’s most sought after business precincts.
“Widely regarded as one of the most recognisable properties in the western suburbs, and situated at one of Adelaide’s busiest intersections just three kilometres from the CBD, this property is expected to attract widespread buyer interest,” Mr Heritage explained.
“Strategically positioned on the direct transport route between the Adelaide airport and the CBD, this property benefits from exposure to more than 40,000 vehicles daily - making it one of the most attractive opportunities of 2016.”
Mr Brown said the property’s strong tenancy profile and prominent location offered both security and scope for future development.
“This offering provides a huge amount of flexibility, whether that is value adding to the existing improvements, selling down of individual units over time, or simply investing and collecting a solid income from the 10 existing tenancies,” Mr Brown said.
“Investors can have confidence in the property’s immediate income, from the number of tenants that occupy the building, knowing that if and when vacancies arise, there will always be significant holding income.”
Expressions of Interest close May 5, 2016 at 4pm.
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