Adelaide casting agency office hits market with Hollywood links

It’s the Adelaide office with a Hollywood connection, and now it can be yours.

And best of all, the current tenant is staying on, ensuring a constant income stream, and the promise of both some famous faces, and rising stars frequenting your investment.

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For more than three decades, the property at 201/186 Pulteney St has been home to the renowned South Australia Casting Agency under the leadership of Ann Peters, and has been responsible for finding talent in such Hollywood films as Pirates of the Caribbean and Mortal Kombat, as well as locally produced films Picnic at Hanging Rock, Wolf Creek, Storm Boy, Shine, Breaker Morant, Snowtown and TV shows McLeod’s Daughters, Neighbours and Home & Away.

The front desk at SA Casting agency, where headshots and movie posters adorn the walls. Supplied

Imagine the fingernails that have been chewed in that waiting room. Supplied

One of the rehearsal spaces. Supplied

The property is being sold as a tenanted investment with a secure lease back to SA Casting, and the second-floor premises offers 350sqm of usable space, with “strong natural light and a functional layout”.

Selling agent Matt Lazarus of Century21 Commercial Adelaide – who is selling the property with co-agent Ronald Ozeri – said it was an incredibly attractive option for investors.

“The leaseback is for three years and then the tenant has the option of a further renewal for another three years,” he said.

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“Her business is going well and she’s got no intention to leave, it’s just her stage of life and she’s decided to sell the building, but the business is continuing.

“The office market is taking a turn for the positive, where we’re starting to see some movement in sales and leasing even in vacant properties – it most definitely makes it more attractive for most investors, knowing that when you’ve got that secure income it helps with the borrowing too.

Another casting space. Supplied

Another view of the front desk. Supplied

The office has launched the careers of many actors. Supplied

“It’s about making sure you have a return, and when you’ve got a secure lease, that’s great.

“Plus as a commercial investor, you want to understand which business is in there, what their long-term record is and how are they performing, and I think a business that is as established and renowned as this – it’s going to attract a lot of interest.”

Mr Lazarus said the current tenancy would bring in $70,000 gross income for its successful buyer.

“It’s an exciting listing to be a part of,” Mr Lazarus said.

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“It’s the right time to invest in South Australia because there’s no stamp duty, so I suspect we’ll see a lot of interest from the eastern states as they look to capitalise on that, and furthermore we’re seeing interest rates coming down, which makes these tenanted investments more attractive.”

The building’s recognisable exterior. Supplied

Many dreams have come true behind that door. Supplied

Close to Rundle Mall, universities and public transport, its online advertisement touts it as a “Set-and-forget investment with a well-established, reputable operator in place.”

“The leaseback arrangement ensures a reliable income stream while giving buyers confidence in the ongoing tenancy of a nationally respected business,” the ad reads.

The property is being sold without a price guide and expressions of interest close Friday, October 30 at 2pm.