Adelaide, 03 May 2016 – A 696sqm footprint in the tightly held commercial and retail precinct of Prospect Road is set to be sold under the hammer next month.
The prime 696sqm corner allotment at 100 Prospect Road comprises a 307sqm commercial building - previously occupied by Commonwealth Bank - and offers more than 15 metres’ street frontage.
CBRE’s Will Brown and Ben Heritage have been appointed to sell the property, which is being offered with vacant possession, via auction on May 12.
Mr Brown said the property’s high profile position in one of Adelaide’s high growth areas would be a strong selling factor.
“This unique high street offering is expected to generate significant interest from local buyers, given its premium location in such a tightly held retail precinct,” Mr Brown said.
“This is an outstanding opportunity to secure a property located on a prominent Prospect Road corner position, with fantastic main road presence and frontage.”
Mr Heritage said the property’s future redevelopment potential, which would be supported by flexible urban corridor zoning, would also be of strong interest to buyers.
“Given its position adjacent the new cinema complex, which is nearing commencement, 100 Prospect Rd is perfectly positioned to complement and benefit from the future activity and atmosphere that will be borne by this exciting new project,” Mr Heritage explained.
“The last property taken to market along this strip of Prospect Road was just three doors down back in late 2014. We sold this under the hammer in front of 100 onlookers, and we have no doubt there will be similar levels of interest in this offering.”
The property will be offered for sale via an onsite auction May 12, 12pm.
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