Adelaide, 22 September 2014 – A Chinese investor has acquired an Adelaide office building for $1.3 million, showing continued demand for CBD real estate.
CBRE’s Will Brown and Ben Heritage negotiated the sale of 142 Wright St on behalf of a member of the Lester Group of Companies, Wright St Pty Ltd.
Formerly a church, the 359sqm property comprises 200sqm of office space including a reception area and several private offices on the ground floor. The building also has a car park for five cars, with direct office access.
Mr. Brown said the sale showed strong demand for CBD real estate with short to medium term development opportunities.
“This sale is further evidence of sustained interest from Chinese investors and developers wanting to secure sites within the CBD. The property, which was surplus to the vendor’s needs, was first purchased by the Lester Group of Companies in 2012 for $1.21 million,” Mr. Brown said.
“CBD locations such as Wright Street continue to be the preferred business location for small to medium sized businesses as they can enjoy easy access to transport, law courts and the bustling Gouger Street and Chinatown precinct.”
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