The 49-51 Vennachar Drive, Hallett Cove property is leased to Paisley Park Early Learning Centres Pty Ltd on a twenty-year lease with options and has an annual net rental income of $278,518.
Situated approximately 21 kilometres from the Adelaide CBD, the site comprises a 685sqm building on a 2,390sqm parcel of land with street frontages to Vennachar Drive, Quailo Avenue and Jupiter Street.
“The high level of competition for the property, predominantly from interstate private investors, demonstrates strong demand for commercial property in South Australia, driven by recent legislative changes,” Mr Einarson commented.
“The purchaser noted the abolition of stamp duty as a key driver in their entry to the South Australian market.”
Mr Curnow said the property benefits from several factors considered attractive in the current investment market.
”This property ticks all the boxes sought after by today’s investors; secure income from a long-term lease, strategic location and presented as a premium grade investment asset should be.” Mr Curnow said.
“With a lack of quality investment stock hitting the market over the past few months there are certainly further opportunities for owners to capitalise on a hot property market.”
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