The fully leased building has a strong tenancy profile, underpinned by national brand tenants, providing a net rental of approximately $211,078 per annum and fixed rental increases of 3%.
Positioned on a landholding of approximately 1585sqm, the site is currently leased to ANZ and Fasta Pasta and offers around 598sqm of total net leasable area. Spread over three certificates of title, the site is zoned District Centre (Policy 8) – Port Adelaide Enfield Council.
Situated amongst three shopping centres, the site receives high exposure, with over 45m of Main North Road frontage and approximately 47,600 vehicles passing daily.
Mr Scott said the property’s location and the area’s current lack of quality leased investments was expected to underpin investor interest.
“We are expecting strong interest as buyers have been starved of quality leased investments, particularly those with food-based tenants,” Mr Scott said.
“The quality of the site is further improved by its location between multiple high traffic shopping centres, including Regency Plaza, Sefton Plaza and Northpark Shopping Centre.”
Mr Scott added: “Local privates have continued to play a major role in the South Australian market since the abolition of stamp duty; however, we are also interacting with interstate groups, who have been proactive in assessing opportunities here.”
The property is being offered for sale via Expressions of Interest, closing September 27 at 4pm (ACST).
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