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Steele & Associates Hotel Brokers - Adelaide
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492 Payneham Road Glynde, SA 5070

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For Sale - Expression of Interest

492 Payneham Road Glynde, SA 5070

Development Sites & Land • Hotel & Leisure
Sale Price

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Land area

0.49ha (1.21 acres)

Floor area

1200.0m²

Property extent

Whole

Tenure type

Tenanted Investment

Tenanted Investment Details

Occupancy
Fully Leased
Est. Incomep.a.
$515,000
Number of Tenants
1 Tenant
Tenants / Type
Freehold Hotel

An iconic eastern suburbs Hotel

  • Iconic eastern suburban freehold hotel
  • Long term lease at $515,000 pa net + GST
  • Multiple value-add opportunities

Expansive site of some 4,881 sqm* with three street frontages.

Five separate Torrens titles

Comprised of bistro/dining, front/sports bar with Lotteries and TAB, and extensive gaming facilities with 33 licensed machines

Sip’n Save drive-through bottle shop and browsing area.

Long term lease until 2046 including renewals.

Current rental $515,000 net excluding GST*

Excellent location with strong local patronage.

A multi-faceted opportunity to secure long term cash flow, refurbish and reactivate the first floor into commercial/accommodation, redesign, expand, upgrade and improve the hotel offering, or redevelop the large site (subject to the necessary consents)

For sale by expression of interest closing Thursday 14 March at 4:00pm

*Approx

Property ID: 503095110Last Updated: 19 Feb 2019

Steele & Associates Hotel Brokers - Adelaide
492 Payneham Road
Glynde, SA 5070
Malcolm Steele

Steele & Associates Hotel Brokers - Adelaide

133 King William Road
UNLEY, SA 5061

Agency contacts

Knight Frank - Adelaide (RLA 199257)

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Knight Frank - Adelaide (RLA 199257)

Level 25 Westpac House 91 King William Street
ADELAIDE, SA 5000
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Malcolm Steele

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Malcolm Steele
Steele & Associates Hotel Brokers - Adelaide
492 Payneham Road Glynde, SA 5070

Hi,
I’m interested in this property. Could you please provide me with more information.

Kind Regards,

Select agent to call

  • Malcolm Steele

    Malcolm Steele

    Steele & Associates Hotel Brokers - Adelaide
    0407 *** ***
  • Tony Ricketts

    Tony Ricketts

    Knight Frank - Adelaide (RLA 199257)
    +61 *** ***