
The Opportunity of a Lifetime in North Adelaide
A unique opportunity has emerged in North Adelaide with the upcoming sale of eight strata units located at 191 Melbourne Street. Generating a net income of approximately $232,536 per annum, this property presents an ideal investment for developers and owner-occupiers alike.
Strategic Location and Growth Potential
Positioned in one of the city’s most prestigious suburbs, this property encompasses a 1,077 square meter land parcel and a 1,079 square meter building area. Currently, it is 88% leased, making it a prime choice for those looking to enhance their real estate portfolio.
According to Rhys Newman, Associate Director at Colliers, the site is zoned Business Neighbourhood, providing the potential for mixed-use development. He highlighted how the site’s size and shape provide remarkable development efficiencies and opportunities for both low-impact employment-generating activities and low to medium-density housing.
Exciting Community Developments on the Horizon
The North Adelaide area is witnessing significant growth, with major projects transforming the landscape. Recent developments include the $250 million 88 O’Connell project and a new mixed-use project expected just down the road at 183 Melbourne Street. These initiatives indicate a thriving market, setting a robust foundation for future real estate ventures.
Moreover, the State Government has approved plans for a new $135 million aquatic center, reinforcing the area’s appeal for investors looking for solid community engagement and sustainability.
Expressions of Interest Close Soon!
North Adelaide’s landmark opportunity will be offered for sale via Expressions of Interest, closing Thursday, July 31, at 3:00 PM (ACST). This is a timely and advantageous occasion for anyone looking to invest in properties that blend potential income with development benefits.
Why This The Perfect Time to Invest?
With the commercial property Newcastle markets already bustling, investing in a prime location like North Adelaide could translate to significant economic gains. As demand for new housing and retail spaces grows amid regional development, potential buyers are encouraged to seize this landmark opportunity before it’s too late. Being just 1.5 kilometers from the Adelaide CBD, the property's connectivity adds to its value, making it an irresistible proposition for savvy investors.
This incredible opportunity reflects broader trends in the property market, where strategic investments lead to substantial returns. If you’re considering expanding your property portfolio, learning more about this exceptional offering can position you to capitalize on Adelaide’s ongoing urban renaissance.
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