Property Detail

Superb Residential/ Commercial Investment and Development Opportunity (Subject to Council Consent)

sold


Property Type: residential

Property ID 4222762

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Superbly situated corner site on one title in Urban Corridor Zone – Transit Living Area (Prospect Road) which allows for medium to high density residential development up to 3 storeys, supported by local shops and offices.
Currently leased as follows:
176 Prospect Road; Gross lettable area approx. 167 Sqm. Current lease extends until 31/7/2019 with two further rights of renewal for each of two years. Current annual rental $30,000 plus GST and outgoings. The current long term tenants have occupied the property since 2006.
176A Prospect Road; Gross lettable area approx. 54 Sqm. Current lease extends until 17/10/2018 with four further rights of renewal each for one year terms. Current annual rental of $14,040 plus GST and outgoings. The offering of this property represents an exceptional opportunity to secure a superb corner address on the Prospect “High Street” which has become one of the most highly sought arterial road inner city locations in metropolitan Adelaide.
Prospect has become one of the top go to inner City suburbs in as evidenced by the rapidly changing commercial and residential landscapes and strong demand for commercial and residential property in the area.

Highly Recommended Blue Chip Property

Feature

Land size: 613 m²

Property Price: $1,125,000

Property Location

176 and 176A Prospect Road Prospect SA Australia 5082

Agent Detail

Peter Fenwick

Floor Plan

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