Pulteney Street Adelaide SA 5000
- 2,400 m²
- Expressions of Interest
SECURELY LEASED CBD INVESTMENT WITH STRONG FUTURE DEVELOPMENT POTENTIAL
- Two level building of 2,400sqm*
- Passing net income of $869,450* pa +GST
Cushman & Wakefield is proud to offer 176-180 Pulteney Street, Adelaide for sale by Expressions of Interest a fantastic fully leased building on a significant inner city land holding.
176-180 Pulteney Street comprises a two-level converted warehouse style building of approximately 2,400sqm lettable area, fully leased to Rising Sun Pictures, a subsidiary of global film giant Pitch Black Company.
With a lease term extending out to 30 June 2027, plus options, the property provides a strong secure income stream, currently generating approximately $869,450 per annum plus GST on a fully net basis with the tenant paying all outgoings including land tax. In excess of $1.2m of tenant and landlord works have been undertaken in the past 2 years.
The building sits on an outstanding core CBD land holding of approximately 1,508 square metres, underpinning the long-term value of the property with strong future development potential. The Capital City zoning allows mixed use development including residential, commercial, retail and others (subject to consents).
In a market that is starved of quality CBD investment opportunities, we strongly recommend this asset for your consideration.
Key property features below:
- Core CBD landholding of 1,508sqm* with front and rear access
- Two level building of 2,400sqm* configured as offices and film production studios
- Securely leased to a subsidiary of a global company until June 2027
- Fully net lease structure with tenant responsible for all outgoings
- Passing net income of $869,450* per annum plus GST
- 11 on site car parks accessed from Sudholz Place at the rear
- Strong future development potential in a great CBD location
176-180 Pulteney Street, Adelaide is offered for sale by Expressions of Interest closing 21st February at 4pm. For more information or to arrange inspections please contact exclusive selling agents Cushman & Wakefield.
Cushman & Wakefield
+61 418 807 920
+61 457 888 213
EXPRESSION OF INTEREST
|Closing date and time