309-313 South Road & 20-22 William Street, Mile End South
An exceptional opportunity to secure a substantial inner west Adelaide investment combining strategic location, strong income and long-term development potential has hit the market.
McGees Property’s James Juers and Michael Dimasi are marketing 309-313 South Road & 20-22 William Street, Mile End South on behalf of a private family who has owned the property for a number of years.
The property is offered as two holdings or in one line – as either 309-313 South Road, comprising a site area of 1,394sqm on one title with warehouse improvements and car park, and/or 20-22 William Street, comprising office, warehouse and showroom improvements and car parking on 1,394sqm of site area, on two titles.
In total, there is a 1,540sqm office, warehouse and showroom facility on 2,787sqm of land spread across three titles zoned Employment, with dual street frontages of 30 metres to South Road and William Street.
The property is offered with a 5+5-year lease from December 2023 to Uniken Flowers, returning a total of $193,041 per annum plus outgoings and GST.
“This is a prime offering in a premium inner-west location allowing for investors and land bankers to secure a strong income stream, and offering excellent future development potential,” Juers said.
“We’re expecting interest from investors looking to purchase an asset in a land-rich and tightly-held area with income and uplift opportunities. Future developers will be attracted to the tightly-held nature of the inner-city location in close proximity to major transport routes, and just two kilometres from the CBD and 2.5 kilometres from Adelaide Airport.”
Dimasi said, “This opportunity offers flexibility and scale in one of Adelaide’s most tightly-held commercial-industrial precincts.”
“The property offers prized dual frontage and exposure to both South Road and William Street, and won’t be impacted by the North-South Corridor upgrades.”
Expressions of Interest close Thursday, 12 June at 4pm.
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