401-409 King William Street, Adelaide

JLL is proud to exclusively present 401-409 King William Street, Adelaide, a rare opportunity to acquire a landmark heritage hospitality asset with exceptional redevelopment potential in Adelaide's evolving southern CBD precinct.

This iconic circa 1922 hotel operating as The Brecknock Hotel & Citi Zen Restaurant occupies an outstanding 1,010 sqm* corner site with an extraordinary 95.16 metres* of combined three-street frontages to King William Street (31.09m*), Gilbert Street (32.46m*), and Holland Street (32.61m*).

The property is 100% leased and generating valuable holding income of $325,000 per annum plus GST with lease expiring 30 June 2029.

Substantially refurbished in 2012 at significant cost, the property features the acclaimed Citi Zen Restaurant and traditional Brecknock Bar, complete with a General & Hotel Licence for 350 persons with extended trading authorisation. The ground floor comprises 905 sqm* of quality hospitality space, with upper level accommodation (440 sqm*) and cellar (64 sqm*).

Located on Adelaide's premier North-South thoroughfare with tram access, the property sits adjacent to the 27-storey Vue residential tower and is surrounded by major recent developments including The Wave and The Edge office buildings. The southern CBD precinct has experienced transformational growth with substantial residential, commercial, and mixed-use developments.