Investment with Exceptional Development Potential

271-273 Unley Road, Malvern

Investors, land bankers and developers have the chance to make their mark on one of Adelaide’s most iconic thoroughfares, with a retail and office corner site offering development potential hitting the market.

McGees Property’s Yee Ng and Simon Lambert are offering for sale 271-273 Unley Road, Malvern, via Expressions of Interest closing on Wednesday, 11 December, on behalf of private owners.

The property comprises a retail shop and character office totalling 368sqm on a highly visible corner site of 752sqm, zoned Urban Corridor (Main Street).

It has been occupied by long-standing tenant Art & Frame since 1992, with the current lease expiring in August 2025 plus a three-year renewal option, returning gross rental of $126,918 per annum plus GST. There is also a redevelopment clause in the lease.

“The existing tenant has a proven track record over more than three decades, which will give investors and land bankers comfort in their asset’s rental prospects.

“The favourable zoning allows for a excellent development flexibility, with an allowed height of five levels, or 18.5 metres. An incoming purchaser can enjoy an income stream from a proven tenant while assessing plans for the site’s future.

“This is the chance for a buyer to make their mark on one of Adelaide’s most iconic and bustling thoroughfares.”

Ng said Unley Street is an inner city hub of retail, dining, and lifestyle options which attracts a steady flow of foot traffic from locals and visitors.

“There is growing demand from people to live, work and play in locations that are close to the CBD, highly accessible, and offer excellent hospitality and lifestyle amenity.”

“This will underpin investment prospects, as well as demand for a range of development product on this site.”

The property is adjacent to Malvern Village, and just moments from the Metro Shopping Centre and Unley Shopping Centre, and offers direct access to the CBD.