Adelaide, 16 May 2016- Adelaide’s Hutt Street is proving popular at present with two lease transactions recently concluded in the precinct.
CBRE’s Michael Pfitzner negotiated both deals at 22 and 47 Hutt Street.
22 Hutt Street is a charming stand-alone property that was formerly the coach house for Rymill House, a two storied stone building built in the style of Dutch Renaissance in 1881. The new tenant is PRP Wealth Management, who has its head office in Berri and was looking for character CBD accommodation in a central location.
The 165sqm property is owned by Paradigm Pty Ltd and has been leased to PRP for seven years an undisclosed sum.
“22 Hutt Street ticked all the boxes for them by allowing them to occupy a stand-alone property that oozes character with flexibility, plus being only seconds from the cafes & restaurants of Rundle and Hutt Streets,” Mr Pfitzner said.
In the second deal at 47 Hutt Street, Mr Pfitzner has leased a property formerly occupied by Diamond Cameras to a new medical company, Minus 110. The property is owned by Photo Property Trust Pty Ltd and is rented for an undisclosed sum.
Mr Pfitzner said Minus 110 specialises in cryotherapy and was attracted to the property due to its prominent signage, easy access for clients and good location close to hospitals.
“Hutt Street has become a popular location as companies identify that easy access for both clients and employees is becoming a significant factor, along with proximity to amenities such as cafes and restaurants. Other locations within Adelaide that don’t offer these features are struggling to attract tenants,” Mr Pfitzner concluded.
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About CBRE Group, Inc.
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 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 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.
