132 Grenfell Street: Adelaide

132 Grenfell Street is located at the 'epicentre' of the new heart of Adelaide. Overlooking the reinvigorated Hindmarsh Square and with the prestige of a Grenfell Street address, this is an outstanding location. Situated on the bustling "people's square" of Adelaide and amongst new developments including office buildings, a hotel and high end residential apartments, this is a premium Adelaide address.

This property has been subject to an extensive re fit with the office and bathroom areas completed refitted, with new ceilings lighting carpets etc and the bathrooms are fitted out to a 5 star standard. The air conditioning has been replaced almost in its entirety  with a new chiller and air handling plant on each office level. The roof sheeting has been replaced and the windows and external facade subject to repairs and redecoration. The refurbishment costs exceeded $1.5m plus substantial refit by the office tenants.

The building has a mix of tenants but the principle tenant is Bradford College part of the $3billion Kaplan group who occupy 68% of the building with 11 yrs remaining on the lease with uplifts in the rent at 4.5% pa.

The average WALE to expiry is 8.5 yrs and there is an opportunity to uplift substantially the retail income.

The estimated net income is $838,811.

This is a great opportunity for owner occupier and investors. Register now.
 
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Marketing Information

• Property Information Memorandum (size 2,297kb)
• Property Brochure (size 411kb)

Vacant Possession

First Floor

Investments

• Lodged Draft Community Title Plan (size 419kb)
• Draft By-Laws (size 207kb)
• Draft Scheme Description (size 37kb)