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Adelaide property attracts interest


Investors have until August 13 of this year to submit their expressions of interest for a top notch office building in Adelaide. 

Located at 74-80 Street, the property was once home to the prestigious Hotel Angas. With a number amenities, the stellar facility has excellent investment feasibility. Colliers International has appointed Alistair Mackie and Paul van Reesema as the agents.

"This is an outstanding property comprising a two-storey heritage-listed office building fronting Angas Street, with non-heritage two level extensions to the rear and onsite secure parking for 18 vehicles accessed off Chancery Lane," commented Mr Mackie.

He added that the duo expects to take the fancy for a range of buyers, from developers to investors looking to make the most of the high demand and low interest rates.  

The building, which has an impressive site area of 1,318.8 square metres, is located at the heart of Adelaide CBD -  between King William and Pulteney Streets on the corner of Angas Street and Chancery Lane.

In addition to this, the building is close to The Central Markets, Gouger Street restaurant precinct, Victoria Square, Adelaide CBD, Hutt Street and Rundle Mall.

Mr van Raseema said the property is at a prime location.

"It is ideally situated from a residential and business viewpoint and offers easy access to the major commercial, retail and entertainment precincts of the Adelaide CBD," he noted. 

A residential yield study is currently being carried out on 900 square metres of the non-heritage area of the building. The purpose of the work is to determine whether a high rise residential apartment development is feasible.

The appraisal has already pointed out three development options - these range from over seven levels comprising 56 apartments and 43 car parks to more than 15 levels of 120 apartments and 33 car parks. 

Date Published: 27 Jul 2015
Category: General News

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