401-409 King William Street,
Adelaide, SA 5000

The offering represents a rare opportunity to acquire a significant CBD asset, which in recent years has been adapted and upgraded to incorporate 'Citi Zen' fine dining Chinese Restaurant & Brecknock Hotel/Front Bar, with upper level set aside as accommodation rooms, prominently located on the corner of King William & Gilbert Streets, at Southern end of CBD.

The property is fully leased to a single operator, lease details can be obtained from the Selling Agents.

The current business holds a General & Hotel Licence with the premises capacity of 350 persons, and according to the Licence can trade 7 days a week with generous operating hours.

The land, which is rectangular in shape, has a total area of 1,010 sqm approx., with frontage to King William Street of 31.09m, frontage to Gilbert Street of 32.46m and frontage to Holland Street of 32.61m.

The property is located within the Capital City Zone - City of Adelaide, with a maximum building height of 53m, and zoning allows for a wide variety of high intensity and large scale development.

The property will be sold with existing lease to be Assigned in favour of the purchaser at time of Settlement - going concern to apply.

There is nil Stamp Duty payable in SA by purchasers of commercial property.

A truly rare opportunity to acquire a significant asset with versatile improvements suited to continued use as a Restaurant/Hotel, with possible boarding house accommodation at upper levels and the future developmental options are endless.

For further details, Information Memorandum, or inspection, contact the Exclusive Selling Agents, George Zogopoulos, 0412 824 278.