442 Pulteney Street, Adelaide
A beautiful two-storey Pulteney Street character retail and office building is on the market for the first time in more than three decades, offering an excellent Adelaide CBD opportunity for investors and partial owner-occupiers.
The multi-tenanted property at 442 Pulteney Street, Adelaide is being offered through McGees Property’s Yee Ng and Simon Lambert via Expressions of Interest closing Thursday, 15 May at 4pm.
The private owner, who is looking to retire, has owned the property since 1993. Expectations are in the upper $1 millions range.
The property has a building area of 356sqm and currently has two long-standing tenants – one in place for more than 20 years and one in place for over 10 years – with another tenancy of 115sqm currently vacant.
The imputed fully-leased income is $95,806 per annum.
“This presents an ideal opportunity for investors and partial owner-occupiers,” Ng said.
“There is significant rental upside potential for investors and the property is in a sought-after address that is in high demand from a range of tenants looking to be near everything the CBD has to offer.
“Owner-occupiers can entrench themselves in Adelaide’s CBD, in close proximity to CBD’s high-quality hospitality and lifestyle amenity and accessibility, while also generating a strong income from the balance of the property.”
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