A 320sqm landholding on one of Adelaide’s most in-demand metropolitan streets has hit the market, unlocking a flexible investment, development or occupation opportunity for an astute buyer.
CBRE’s Ben Heritage and Will Brown will be negotiating the sale of 125 Melbourne Street, North Adelaide, which is strategically located only 3kms from the central hub of Adelaide and 2kms from the recently renovated Adelaide Oval.
Formerly utilised as a Pilates studio, but currently being offered with vacant possession, the site features existing improvements comprising a single storey shop front and rear lean-to - providing a total NLA of 154sqm. The site further benefits from Main Street zoning, accommodating a wide range of uses and offering fantastic development flexibility.
Mr Heritage said strong interest from both owner occupiers and developers is expected, underpinned by the site’s coveted location.
“Recent sales of main street properties in North Adelaide and the neighbouring suburb of Prospect demonstrate buyer demand for this area is currently at an all-time high. This should further contribute to a competitive campaign and plenty of activity on the day of auction.”
“Since the completion of the Adelaide Oval redevelopment, the western precinct of the CBD and the North Adelaide region have received a significant injection of business confidence and vibrancy - with many occupiers and developers now looking to gain a foothold in this burgeoning region,” added Mr Brown.
The site will be sold via a public auction, on Thursday, July 7th at 11am.
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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 (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.