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CBRE - South Australia (RLA 208125)
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215 Grote Street Adelaide, SA 5000

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215 Grote Street,
Adelaide, SA 5000

Shop & Retail • Showrooms & Bulky Goods • Development Sites & Land

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CBRE - South Australia (RLA 208125)
215 Grote Street
Adelaide, SA 5000
CBRE - South Australia (RLA 208125)
Harry Einarson
Mitch Curnow
Alistair Laycock

CBRE - South Australia (RLA 208125)

Level 5, 151 Pirie Street
ADELAIDE, SA 5000

Map of 215 Grote Street

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SECURE CITY INVESTMENT WITH MASSIVE DEVELOPMENT POTENTIAL

  • 5-year lease expiring 31st October 2024
  • 53m development potential (STCC)
  • 2,787sqm* site area
CBRE Capital Markets is thrilled to be favored with instructions for the sale of 215 Grote Street, Adelaide currently under a long-term lease to national furniture retailer Early Settler. 215 Grote Street is exceptionally well-situated to the West of the Adelaide CBD, in an established commercial precinct in very close proximity to Chinatown, Adelaide Central Markets, West Terrace & just 900m* from the Adelaide BioMedical Precinct.

Underpinning the exceptional location is the underlying land value with a total site area of 2,787sqm* within a flexible zoning. The building consists of three levels with varied improvements including showroom, offices, warehousing & café.

We further highlight the below key features of the property which is the perfect definition of an ‘invest now, develop later’ property:

- Net rental of $531,726pa*
- Leased to ESR Group Holdings Pty Ltd trading as Early Settler with over 50 stores across Australia & New Zealand
- 5-year lease term expiring 31st October 2024 with further 5-year option
- Site area of 2,787sqm* and GLA of 3,685sqm*
- Flexible Capital City zoning in the City of Adelaide allowing development up to 53m*
- Two Certificates of Title with three street frontages
- CPI rental increases annually
- Redevelopment Clause within the lease with 18-month notice period
- Tenant pays all outgoings including Land Tax on a single-holding basis

For Sale by Expressions of Interest closing Friday 21st June 2019 at 4:00pm (ACST)


For further information please contact exclusive marketing agents CBRE:

Mitch Curnow - 0415 494 056
Harry Einarson - 0421 747 442
Alistair Laycock - 0412 136 011

RLA 208125 *Approx.

Property ID: 503207286Last Updated: 24 Oct 2019

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CBRE - South Australia (RLA 208125)
CBRE - South Australia (RLA 208125)
Level 5, 151 Pirie Street
ADELAIDE, SA 5000
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Harry Einarson

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Harry Einarson
CBRE - South Australia (RLA 208125)
215 Grote Street Adelaide, SA 5000

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

Kind Regards,

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  • Harry Einarson

    Harry Einarson

    CBRE - South Australia (RLA 208125)
    +614 *** ***
  • Mitch Curnow

    Mitch Curnow

    CBRE - South Australia (RLA 208125)
    +61 *** ***
  • Alistair Laycock

    Alistair Laycock

    CBRE - South Australia (RLA 208125)
    +61 *** ***