A high-exposure commercial property with strong development potential in Adelaide’s tightly-held inner northern corridor is up for sale.
The property at 407 Regency Road in Prospect, around four kilometres north of the CBD, consists of a 246sq m single-level commercial office building and additional rear storage shed on a 720sq m landholding.
It is leased to Commercial IT Solutions until August 2027, providing secure short-term interim income while also providing future flexibility for owner occupation or redevelopment.
The site has strong underlying development potential under its flexible Urban Corridor (Living) zoning, which allows a mix of residential and non-residential development up to four storeys in building height.
407 Regency Road is being taken to the market via an auction campaign run by Knight Frank agents Chet Al, Harrison Grice and Ned Walter.
Mr Al said: “The property offers investors, developers and owner-occupiers an exceptional opportunity to acquire a well-located commercial asset benefitting from secure rental income, strong exposure to a major arterial road and long-term underlying land value with flexible zoning.
“The property occupies a high-profile location along Regency Road, benefitting from significant daily passing traffic and excellent connectivity to the broader metropolitan road network.”
Mr Walter said: “Quality inner metropolitan landholdings of this scale are increasingly scarce.
“We expect strong interest from both investors and owner occupiers looking for a strategic foothold in a tightly held corridor.
“With the security of existing income and the potential for value-add outcomes, this is a highly attractive proposition in one of Adelaide’s most desirable inner northern locations.”
The auction for 407 Regency Road will be held onsite at 11am on Friday, April 17.
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