A former Beulah Park medical practice has been offered to the market, in a move that will unlock a prime opportunity for a new operator or developer to capitalise on the quality inner east location.
The 1,003sqm site, located at 291 The Parade, offers a single-story commercial property with a net lettable area of approximately 252sqm - which currently has a medical fit out. The site features 16m frontage to The Parade, 17 on-site carparks and local business zoning.
The site benefits prime location approximately 4.5kms from the heart of the Adelaide CBD, with positioning on the highly sought after northern side of The Parade only 500m beyond Portrush Road.
The property is currently leased to IPN Medical Centres until January 21 2017; however the site is to be sold on a vacant possession basis – allowing ultimate flexibility for the end purchaser.
CBRE’s Harry Einarson and Will Brown will be negotiating the sale via a public auction on Wednesday, November 30 at 11am.
Mr Einarson said the flexible nature of the site, particularly with development potential, should encourage a competitive sales campaign.
“291 The Parade offers a strategic opportunity suited to a range of office/medical owner occupiers, commercial developers and speculative investors. There are limited opportunities to acquire a blank canvass suited to multiple end uses in such a coveted inner east location.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), 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 2015 revenue). The company has more than 70,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 400 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.
