Thebarton Square offered for sale - value add investment with significant development potential hits the market
JLL’s Jamie Guerra and Tony Iuliano in conjunction with Colliers International’s Paul Tierney, Paul Van-Reesema and Alistair Mackie have been appointed to sell Thebarton Square
Adelaide, October 24, 2019- JLL’s Jamie Guerra and Tony Iuliano in conjunction with Colliers International’s Paul Tierney, Paul Van-Reesema and Alistair Mackie have been appointed to sell Thebarton Square, an integrated, mixed use site comprising of 14,510 square meters in Adelaide’s Western suburbs.
The offering presents the opportunity to acquire an outstanding high yielding investment with significant development potential in Adelaide’s west, characterised by its mixed-use future development potential for high to medium density development.
Thebarton Square offers investors and investor and developers the opportunity to acquire and add to this true island sites attractive income matched by the quality of the occupiers and improvements.
“Under the Urban Corridor Business Policy Area 37 zoning, the 14,510sqm site has the potential for mixed use development up to six levels, including the residential opportunities,” Mr Tierney said.
The desirable inner suburb of Thebarton’ s location adds substantial value to the asset, being strategically located for buyers to capitalise on significant transport infrastructure and offering uninterrupted thoroughfares connecting the metropolitan areas.
“Thebarton Square benefits from its proximity to the city, just 2.5 kms from the CBD and just a stones throw away from the New Royal Adelaide Hospital and recently extended tramline, a highly regarded feature of the site,” Mr Mackie said.
“Thebarton is a popular precinct and Thebarton Square is a highlight within the precinct with numerous corporate commercial & industrial occupiers including Coco-Cola, Amatil, Viterra and Nokia to name a few” said Mr Guerra.
The site totals an impressive 14,510 square meters and comprises of 11 titles across 19 allotments. Significant frontages of the site include Stirling Street, Anderson Street, Holland Street and Windwood Street and easy access to surrounding amenity including the Western Parklands, the Entertainment Centre and Linear Park pedestrian and cycle paths.
Fully leased, the net income of the offering totals an attractive $1,305,000 per annum
“Thebarton Square presents a unique opportunity to acquire an asset with both strong rental income stream and significant future reposition and development potential, showing strong growth potential,” Mr Iuliano said.
Thebarton Square is for sale by Expressions of Interest closing Thursday 14 November 2019 at 3.00pm (ACDT) at the offices of Colliers International Adelaide.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.