Accord Property, an Adelaide-based developer and funds manager, has acquired a former car dealership on Valley View’s North East Road for $6.6 million.
The sale was negotiated by CBRE’s Harry Einarson and Jordan Kies on behalf of the previous owner/occupier, who ran a car dealership on the site for over 30 years.
“The transaction paves the way for a new mixed-use development incorporating childcare, retail and fuel,” commented Mr Einarson.
“There was a high level of interest with over 40 enquiries and six offers for the site, predominantly from developers and some owner occupier groups”.
The 14,600sqm site is located at 817 North East Road, offering high exposure with up to 40,000 passing vehicles per day.
With 146m frontage on to North East Road and secondary frontage to Carlisle Place, the site offers the ability to capture traffic travelling away from Adelaide CBD before reaching the Tea Tree Plaza precinct as well as city inbound traffic.
817 North East Road is positioned approximately 16km from Adelaide CBD.
The sale was negotiated by CBRE’s Harry Einarson and Jordan Kies on behalf of the previous owner/occupier, who ran a car dealership on the site for over 30 years.
“The transaction paves the way for a new mixed-use development incorporating childcare, retail and fuel,” commented Mr Einarson.
“There was a high level of interest with over 40 enquiries and six offers for the site, predominantly from developers and some owner occupier groups”.
The 14,600sqm site is located at 817 North East Road, offering high exposure with up to 40,000 passing vehicles per day.
With 146m frontage on to North East Road and secondary frontage to Carlisle Place, the site offers the ability to capture traffic travelling away from Adelaide CBD before reaching the Tea Tree Plaza precinct as well as city inbound traffic.
817 North East Road is positioned approximately 16km from Adelaide CBD.
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About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
