Offered for sale for the first time since constructed, 99 Frome Street is a strategically well positioned office asset offering substantial value add opportunity in Adelaide's dynamic and stable CBD office market.
Designed around a dual lift central core the building offers excellent natural light with large floorplates offering efficiency for tenant fitout or division. The building has undergone multiple upgrades throughout the current ownership tenure across services, amenities and aesthetics and offers further opportunity to create added value.
Currently 79% occupied the building enjoys a strong longstanding tenant profile, underpinned by high profile corporate tenants including O'Loughlin's Lawyers and ElectraNet. The current vacancy is located on the ground floor creating opportunity to realise genuine value through vacancy letup and reversionary upside.
99 Frome is further positioned to benefit from the $672 million Lot Fourteen Urban Renewal Project, one of the most exciting Urban Renewal Projects in Australia, with a key focus on leading ability in space, defence, hi-tech and entrepreneurship.
Less than 500 metres* from Lot Fourteen the property will enjoy increased activity and demand through the eastern CBD precinct and is well located to capitalise on the overflow of tenant requirements.
Key features:
- 3,432m²* of Net Lettable Area with large floorplates
- Estimated fully leased $1.28m
- 79% occupancy with vacancy letup value
- 56 secure onsite car parks
- 4 Star NABERS rating
- Close proximity to Lot Fourteen
- Zero Stamp Duty in South Australia
99 Frome Street, Adelaide is offered for sale via Expressions of Interest closing 3:00pm (ACDT) Thursday, 9 March 2023 through the exclusive selling agents.
For further information, or to arrange an inspection, please contact Colliers Adelaide.
