The Australian Red Cross Blood Centre building in the north-east corner of Adelaide’s CBD has been listed for sale, with price expectations in excess of $10 million.
Located at 299-309 Pirie Street, near the new Australian Space Agency headquarters at Lot Fourteen, the investment opportunity is underpinned by a 2,600sqm site offering 40m of dual frontage to both Pirie and Tucker streets.
The listing’s Capital City zoning offers investors an opportunity to develop the site for a variety of uses, including residential, hotel, retail and licensed entertainment premises.
CBRE’s Harry Einarson, Mitch Curnow and Alistair Laycock have been appointed to negotiate the sale on behalf of the Australian Red Cross Society.
The existing 3,760sqm building offers short-term holding income from the Australian Red Cross Blood Service until December 2019.
“We anticipate interest from owner-occupiers looking for land holdings close to Lot Fourteen or seeking to capitalize on a CBD location without the hustle and bustle,” Mr Curnow said.
“The recent Australian Space Agency announcement, regarding the creation of 20,000 jobs by 2030, positions 299-309 Pirie Street in a key location for ancillary business.”
The continued development of Adelaide’s East End would be another drawcard, Mr Einarson noted.
“With the new Australian Space Agency making a home nearby in Lot Fourteen, three apartment projects currently underway in close proximity and unencumbered views over the Adelaide Parkland, 299-309 Pirie Street represents one of the best positioned development sites in Adelaide’s east.” Mr Einarson said.
The property is being offered for sale via Expressions of Interest closing Thursday, May 9, 2019 at 4:00pm (AEST).
Located at 299-309 Pirie Street, near the new Australian Space Agency headquarters at Lot Fourteen, the investment opportunity is underpinned by a 2,600sqm site offering 40m of dual frontage to both Pirie and Tucker streets.
The listing’s Capital City zoning offers investors an opportunity to develop the site for a variety of uses, including residential, hotel, retail and licensed entertainment premises.
CBRE’s Harry Einarson, Mitch Curnow and Alistair Laycock have been appointed to negotiate the sale on behalf of the Australian Red Cross Society.
The existing 3,760sqm building offers short-term holding income from the Australian Red Cross Blood Service until December 2019.
“We anticipate interest from owner-occupiers looking for land holdings close to Lot Fourteen or seeking to capitalize on a CBD location without the hustle and bustle,” Mr Curnow said.
“The recent Australian Space Agency announcement, regarding the creation of 20,000 jobs by 2030, positions 299-309 Pirie Street in a key location for ancillary business.”
The continued development of Adelaide’s East End would be another drawcard, Mr Einarson noted.
“With the new Australian Space Agency making a home nearby in Lot Fourteen, three apartment projects currently underway in close proximity and unencumbered views over the Adelaide Parkland, 299-309 Pirie Street represents one of the best positioned development sites in Adelaide’s east.” Mr Einarson said.
The property is being offered for sale via Expressions of Interest closing Thursday, May 9, 2019 at 4:00pm (AEST).
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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.
