233 North Terrace, ADELAIDE SA 5000
Expression of Interest
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- BUILDING DETAILS
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- 24 Nov 2016
Iconic NY Style Office Investment
Colliers International and Knight Frank are privileged to have been appointed exclusive agents for the sale of 233 North Terrace, Adelaide.
233 North Terrace is the global headquarters of Australian Fashion Labels, a diversified international fashion business.
The building has undergone a fastidious and comprehensive refurbishment completed in March 2016 which included the complete replacement of all plant, equipment and services together with other upgrades and replacements.
Australian Fashion Labels’ (Aus Labels) fashion brand business, designs, markets and sells contemporary womens apparel across 5 brands; Finders, C/Meo Collective, Keepsake, The Fifth Label and Jaggar Footwear. Aus Labels has 165 staff and operations stretching across Adelaide, Melbourne, Sydney, Los Angeles, Shanghai and Hong Kong. This infrastructure supports wholesale sales in +20 countries to retailers with c.1700 stores.
Aus Labels was founded by Dean and Melanie Flintoft in 2007, and has grown into a well-established business, with FY16 turnover of $56m. 233 North Terrace houses the corporate, finance, production and logistics, design, PR and Marketing, graphic design and photography divisions of the company. The building has the perfect NY Loft look and feel to act as a wonderful creative space supporting this creative business.
To support its continued growth strategy, Aus Labels has committed to a new 10 + 5 + 5 year lease on full net basis over the entire building supported by a strong bank guarantee. The net annual income is $1.43 million plus all outgoings and GST.
233 North Terrace is prominently located on Adelaide CBD’s cultural boulevard directly opposite the South Australian Art Gallery, the SA Museum and the two major Adelaide Universities. It enjoys exceptional views to the north over the Adelaide parklands and North Adelaide.
Key investment highlights include:
1. Impressive seven level building impeccably refurbished and upgraded
2. 100% leased to an iconic and highly successful SA business for 10+5+5 years
3. Valuable long term cash flow with fixed annual rental growth
4. Prime CBD location on Adelaide’s premier cultural boulevard
5. Sweeping panoramic CBD and northern parkland views
6. A substantial land holding with two street frontages
7. Further development and value add potential in the form of 2 rooftop apartments
8. NABERS exempt
233 North Terrace is offered For Sale by Expressions of Interest closing 4:00pm (CST) Thursday 13th October 2016.
Colliers International and Knight Frank have no hesitation in commending this superb investment for your most consideration.
1 Bligh street, SydneyGrade A
Building AmenitiesAvg. rent (net):$800 - $1000Avg. outgoings:$162Vacancy rate:13.5%Data from Colliers Edge.For information click hereMajor TenantsNabers energyAdditional information
Expression of Interest Details
- Close Date:
- 13/10/2016 00:00:00
- Recipient Name:
- Alistair Mackie
- Delivery Address:
- 4:00pm at the offices of Colliers International or Knight Frank
233 North Terrace ADELAIDE