Adelaide

Prospect Road opening holds huge potential

CBRE has announced the release of a new 2,760sqm urban corridor development site at 69-73 Prospect Road, Prospect.

21 Aug 2018

CBRE has announced the release of a new 2,760sqm urban corridor development site at 69-73 Prospect Road, Prospect.

The property, featuring a Prospect Road frontage of 53m, has a gross lettable area of 841sqm and already generates $103,902 in annual gross income. 

The site has an Urban Corridor – High Street Policy Area zoning, allowing for development up to four storeys. 

This corner allotment is a 50m walk to Prospect Cinemas, offering a variety of development opportunities to prospective buyers. 

CBRE’s Harry Einarson and Mitch Curnow have been appointed to negotiate the sale.

“Continuing CBRE’s strong Prospect Road track record, we will be taking 69-73 Prospect Road to market as the largest development site to be offered on this cosmopolitan retail, restaurant and café strip, in three years,” Mr Einarson said. 

Mr Curnow added that the appointment of the property marked CBRE’s sixth, and possibly most exciting, listing along this stretch in that time – including a mixture of development sites, owner occupier opportunities and leased investments.

“The site is in a prime position, near the brand-new Prospect Cinemas, with holding income that will help alleviate a prospective developers’ holding costs,” Mr Curnow said.For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.

Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.