492 Payneham Road Glynde SA 5070
- Development / Land
- 4,881 m²
- For Sale, Contact Agent (under offer)
An iconic eastern suburbs Hotel
- Iconic eastern suburban freehold hotel
- Long term lease at $515,000 pa net + GST
- Multiple value-add opportunities
Expansive site of some 4,881 sqm* with three street frontages.
Five separate Torrens titles
Comprised of bistro/dining, front/sports bar with Lotteries and TAB, and extensive gaming facilities with 33 licensed machines
Sipn Save drive-through bottle shop and browsing area.
Long term lease until 2046 including renewals.
Current rental $515,000 net excluding GST*
Excellent location with strong local patronage.
A multi-faceted opportunity to secure long term cash flow, refurbish and reactivate the first floor into commercial/accommodation, redesign, expand, upgrade and improve the hotel offering, or redevelop the large site (subject to the necessary consents)
|Floor Area||1,200 m²|
|Land Area||4,881 m²|
|Building Type||Whole building|
|Annual Return||Ask Agent|
|Last updated||2 May 2019|