East Adelaide office investment appeals to selfmanaged super fund investors
East Adelaide office investment appeals to self-managed super fund investors
| 16 April 2019
A local vendor has listed the second-floor of 276 Flinders Street in Adelaide’s east for sale.
The office space is fully leased to two tenants, generating a passing net rental of $163,654 per annum, with fixed annual increases of 3% and 4% for each respective tenant.
CBRE’s Mitch Curnow, who has been appointed to negotiate the sale alongside colleague Ned Looker, said the 404sqm investment opportunity features a strong tenancy profile, with a WALE of 5.62 years offering security of tenure.
Mr Curnow added; “Yields have continued to tighten over the past two to three years, making the market hungry for diversified and high yielding investment properties like 276 Flinders Street.”
Mr Looker noted; “This is the perfect investment for private high-net-worth and self-managed super fund investors given the fixed rental increases and high-quality improvements.”
The property was architecturally designed offering a modern office amenity and includes four car parks that are generating income included in the net rental.
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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.