164-168 Angas Street Adelaide SA 5000

JLL is pleased to present 164-168 Angas Street for sale by Expression of Interest. Fully leased until June 2025, the properties present countless opportunities for owner occupiers to position their business in close proximity to core businesses including the Calvary Adelaide Hospital and Legal Precinct; investors looking for a CBD asset with value-add upside; and developers looking to capitalise on the 53m* height limit.

The single level buildings have a combined lettable area of 218* square metres with a rear garage and onsite parking for up to 14 vehicles.  The lease is structured on a favorable net lease basis, with the tenant paying all the outgoings excluding State Land Tax, with the assets generating $72,879* pa net.  

Situated in proximity to the Calvary Adelaide Hospital, Legal Precinct, Rundle Mall, China Town/Gouger Street as well as Adelaide Central Market which is undergoing the expansive $400m Market Square expansion and development. 164-168 Angas Street is surrounded by a wide range of key amenity including popular cafes and restaurants, with public transport readily available by multiple bus routes accessibly on Angas Street, Pulteney Street and Hutt Street with the tram available from King William Street.  

We summarise the key property features below:

·      Prime corner location with total land area of 616 square metres* accessible via Cypress Street and rear laneway
·      Total building area across the two buildings of 218 square metres*
·      Fully leased until June 2025 generating $72,879* pa net
·      Medical/consulting tenant
·      Up to 14 on site carparks
·      Great for a range of commercial office or medical uses with ample onsite parking
·      Unlock immediately if desired with a Redevelopment Clause in the lease
·      Zoned Capital City with building height permitted up to 53m (subject to approval)
·      Favourable net lease structure with the tenant paying all the outgoings excluding State Land Tax

The property is offered for sale by Expression of Interest closing Tuesday 6 August 2024 at 4pm ACST. 

*Approx.