AU - Fortitude Valley, QLD
JLL is pleased to present 18-20 Grenfell Street, Adelaide for sale by Expression of Interest. Situated in the core of the Adelaide Central Business District on arguably one of the best addresses in the city.
This stunning seven level heritage office offers a unique opportunity to own a piece of Adelaide’s history. The building incorporates commercial tenancies on ground, lower ground up to level five and a residential apartment on level six.
Situated just metres from Rundle Mall and core business the building has access to extensive public transport including nearby bus, tram and the Adelaide Central Train Station just 500m away.
With an occupancy of circa 50%* the current tenancy mix includes corporate and educational tenants with significant rental upside. Endless value add options including immediate leasing potential, refurbishment of existing accommodation or conversion to alternate use (subject to approval).
Occupying a prime position in the centre of business activity the property will appeal to owner occupiers or investors seeking to capitalise on the benefits of this core location.
· Unique 7-level office in excellent CBD location
· 1,487sqm* NLA with 50%* occupancy
· Fully leased net income of $264,000pa*
· Endless value add potential
· 4.0 Star NABERS Energy Rating
Expression of Interest closing at 4pm (ACST) on Thursday 22 June 2023.