JLL is proud to exclusively presents 141-157 O'Connell Street, North Adelaide for sale by Expression of Interest.
Situated in North Adelaide, one of Adelaide's most desirable suburbs and located on O'Connell Street, one of Adelaide's premier high streets, just 2km* from the Adelaide CBD.
The property offers a significant corner site with three street frontages and a huge frontage to O'Connell Street.
Zoned City Main Street, with the property's significant site area and street frontages makes the property an exceptional opportunity for future development.
The two level building provides a range of well established cafes and restaurants to the ground floor, offices to the upper floor and car parks to the rear.
92.5% leased with 9 of the 10 tenancies being occupied, including all of the ground floor, the property offers an attractive income for investors and the ability to add-value to capture income upside.
Well-connected to the CBD with convenient public transportation the precinct is at the doorstep of Adelaide's best attractions including Adelaide Oval, Botanic Gardens, River Torrens, and more making O'Connell Street a prime location for both residents and visitors to enjoy the best of what North Adelaide has to offer.
A central and convenient location which is undergoing a modern renaissance with a number of new high end residential development including Eighty Eight O'Connell, The Brougham Apartments and more.
We highlight the key features below:
- 92.5% occupied with ground floor being fully leased
- Net passing income of $384,579* and an estimated fully leased income of $415,579*
- WALE of 3.74 years* by income (as at 1 March 2024)
- Expansive 1,547sqm* corner site with three street frontages including a 60.76m* frontage to O'Connell Street
- 1,647.5 sqm lettable area over two levels
- Most leases with CPI annual reviews
- Sought after O'Connell Street address, less than 2km from the Adelaide CBD
- City Main Street zoning allowing development up to 4 levels (stnc)
- No stamp duty payable on commercial property transactions South Australia
The potential and flexibility 141-157 O'Connell Street provide is limitless.
For Sale via Expressions of Interest:
Closing 4:00pm (ACST) 7 May 2024
RLA 1842
