Versatile land-rich CBD investment

Cushman & Wakefield is pleased to offer to the market 211 & 217-219 Pulteney Street, Adelaide – two adjoining properties in the heart of the Adelaide CBD, available either together or separately.

The properties are perfectly located on the western side of Pulteney Street between Wakefield and Flinders Street, and together comprise a land holding of over 1,858* square metres, with 30* metres of valuable frontage to Pulteney Street.

211 Pulteney Street comprises a 2,240sqm* three level building on a 957sqm* site, with lift access to upper levels and under croft parking at the rear for 8 vehicles. The building was completely gutted and refurbished in 2006 with work including new roof, electrical, a/c, fire services, lift and amenities.

The building is leased to Centre Com on the ground floor until May 2029, and Zenith Interiors on Level 2 until October 2027.  Level 1 is available for immediate occupation, with valuable 9B education certification providing a fantastic opportunity for owner-occupiers and tenants alike. Passing net income is approximately $223,000 per annum, with a further $312,000pa* imputed over Level 1 and carparking.

217-219 Pulteney Street comprises a site of 898sqm* and is home to the CBD franchise of Auto Masters, with the current lease expiring in May 2029 with net income of approximately $55,800 per annum.

In a market that is currently starved of compelling investment opportunities, we consider 211 & 217-219 Pulteney Street to be a standout offering for anyone looking to add a quality asset to their portfolio, future proofed by the high underlying land value and future redevelopment potential.

For more information or to arrange an inspection, please contact the exclusive selling agents.

*approximate
RLA315726