Ideally located within the prime Adelaide Fringe market in the inner southern suburb of Wayville, a fully leased office building enjoying views of the Adelaide City Parklands and south eastern views to the Adelaide Hills is set to hit the market.
Located at 12 Greenhill Road, Wayville, the commercial building is fully leased to three tenants and sits on a 1,115sq m* land holding and offers a Ground floor of 521sq m* lettable area and first floor of 472sq m* lettable area with 37 under cover parks and one on site visitor carpark.
The property has an estimated net income of $198,418pa* and is for sale through Steve Bobridge and Chet Al of Savills Australia, who said Greenhill Road is a tightly held business precinct that continues to be an appreciated location for small to medium businesses that can enjoy car parking for staff and clients.
According to Steve Bobridge, Director, Agency at Savills Australia, “This is an exceptional city fringe opportunity not to be missed. The immaculate street appeal is one that you would be proud to have in any portfolio.
“The ground floor is leased to Greencap, a subsidiary of Wesfamers and the first floor is split over two tenancies, offering a total building area 993sq m*, which is sure to be an attraction in years to come.”
According to Chet Al, Associate Director, Agency at Savills Australia, “The property is zoned Urban Corridor Boulevard policy under the new development act, which could see the property being developed into seven levels subject to the necessary approvals.”
Mr Al went on to say that Adelaide’s City Fringe district is identified primarily as those sections of Greenhill and Fullarton Roads that have parkland frontages. These roads divide the fringe office precinct from the CBD with a parkland belt acting as a buffer zone.
“Various types of businesses occupy the precinct ranging from insurance companies, telecommunications and engineers through to marketing companies,” he said.
12 Greenhill Road, Wayville is for sale via an Expressions of Interest campaign, closing 4pm Thursday 22 April 2021.
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