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215 Grote Street
Adelaide SA 5000
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Sold on 10 Jul 2023

215 Grote Street Adelaide SA 5000

  • Shop & Retail
  • 2,787 m²
  • Sold

SECURE CITY INVESTMENT WITH MASSIVE DEVELOPMENT POTENTIAL

  • 7-year lease expiring 31st October 2026
  • Capital City Zoning allowing development
  • 2,787sqm* site area

CBRE Capital Markets is thrilled to be favored with instructions for the sale of 215 Grote Street, Adelaide currently under a long-term lease to Early Settler. 215 Grote Street is exceptionally well-situated to the West of the Adelaide CBD, in an established commercial precinct in very close proximity to Chinatown, Adelaide Central Markets, West Terrace & just 900m* from the Adelaide BioMedical Precinct.

Underpinning the exceptional location is the underlying land value with a total site area of 2,787sqm* within a flexible zoning. The building consists of multiple levels with varied improvements including showroom, offices, warehousing & café.

We further highlight the below key features of the property that is the perfect definition of an 'invest now, develop later' property:

Net rental of $580,117pa*
Leased to ESR Group Holdings Pty Ltd trading as Early Settler with over 50 stores across Australia & New Zealand
215 Grote Street is Early Settler's flagship South Australian store, where they have been in occupation for 32 years
7-year lease term expiring 31st October 2026 with further 5-year option
Site area of 2,787sqm* and GLA of 3,182sqm*
Flexible Capital City zoning in the west end of Adelaide CBD allowing development up to 53m*
Two Certificates of Title with three street frontages
CPI rental increases annually
Redevelopment Clause within the lease with 18-month notice period
Tenant pays all outgoings including Land Tax on a single-holding basis

For Sale via Expression of Interest closing Thursday 24th November 2022 at 4:00pm

Please contact the sole marketing agents with any other questions:
Harry Einarson: +61 421 747 442
Mitch Curnow: +61 415 494 056
Ned Looker: +61 448 689 573

*Approx

CBRE South Australia RLA 208125
CBRE South Australia RLA 208125
Level 20/83 Pirie Street
Adelaide, SA 5000

Property Highlights

Date Sold10 Jul 2023
Floor Area2,787 m²
Land Area3,182 m²
ParkingOn site parking available
Building TypeWhole building
Property ID2018150719
Category
Last updated  26 Jun 2023
Map for 215 Grote Street Adelaide SA 5000
CBRE South Australia RLA 208125
CBRE South Australia RLA 208125
Level 20/83 Pirie Street
Adelaide, SA 5000

Property Highlights

Date Sold10 Jul 2023
Floor Area2,787 m²
Land Area3,182 m²
ParkingOn site parking available
Building TypeWhole building
Property ID2018150719
Category
Last updated  26 Jun 2023

Listed by

Ned Looker
CBRE South Australia RLA 208125
Call
+61 448 689 573

More about 215 Grote Street Adelaide SA 5000

215 Grote Street Adelaide SA 5000 is categorized as Shop & Retail Property. It has a floor area of 2,787 m² and a land area of 3,182 m². The listing ID for this property is 2018150719.

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