492 Payneham Road Glynde, SA 5070
0.49ha (1.21 acres)
Tenanted Investment Details
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)
Property ID: 503095110Last Updated: 16 Apr 2019