215-231 Grenfell St, 252-260 Pirie St, 247-259 Pirie St, 31-35 Worsnop Ave
Adelaide, SA 5000
Key property information
Unprecedented Adelaide CBD Land Holding
- Premium landmark development location
- Prospective Capital City zoning
- Potential for valuable holding income
The portfolio is located in Adelaide’s coveted eastern CBD precinct and offers rare and strategic redevelopment opportunities. Given the magnitude of the portfolio, It will appeal to the broader market including residential apartment, retirement apartment, student accommodation, hotel, medical, office and retail, and mixed use developers and operators. The assets have been in the ownership of the City Holden group since the 1970’s and offer a range of open space carparking, shedding, showroom and office accommodation with potential to generate significant holding income whilst development plans are worked up.
Offering a combined 9,477 sqm, the portfolio’s premier location, sheer magnitude, multiple street frontages, parcelling options, adaptable buildings with holding income potential and favourable zoning combine to enable a multitude of redevelopment opportunities that make this a truly exceptional opportunity.
Key Asset Highlights:
• Premium landmark development location on the heart of the Adelaide East End
• Prospective Capital City zoning providing for development up to 53m (17 levels) in height
• Very significant and strategic land holdings with a combined area more than 2 acres (0.9477 ha)
• Flexibility in superlot opportunities
• Leaseback and building re-adaptation potential for the Grenfell Street showroom and display yard
• Proximity to Rundle Mall, cultural North Terrace, Lot Fourteen (former RAH), inner eastern suburbs, cosmopolitan Hutt and Rundle Street café and restaurant precincts and the largest bio-medical facility in the southern hemisphere
• Potential for valuable holding income
• Multiple sector appeal
The portfolio is offered for sale by Expressions of Interest closing Thursday 8 November 2018 at 4:00pm (ACST) at the Adelaide office of Colliers International.
Inspections are strictly by appointment only and the four superlots are available individually, in groups or as a whole.
Property ID: 502974286Last Updated: 31 Dec 2018