246-250 Pirie Street,
Adelaide, SA 5000

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Investment Return + High Rise Development Potential

638 sqm lettable area
100% leased with net income $167,000* pa
Build up to 15 levels and 75 apartments*

246-250 Pirie Street offers astute purchaser a two-storey office building that is currently generating a substantial holding income from an excellent mix of commercial tenants. The property's unique zoning and existing improvement provide an exciting opportunity to develop a high rise residential tower integrated into the overall development (stnc).

An investment in 246-250 Pirie Street, Adelaide will offer the successful purchaser:-

> A prominent office building part of which is of heritage significance, with incredible redevelopment potential
> Total building area 850* square metres
> Total site area 481* square metres
> Dual street frontage
> Substantial net investment income of $167,000 pa*.
> Close proximity to the cosmopolitan amenity of Rundle Mall and Hutt Street
> Outstanding opportunity for developers, land bankers and investors

246-250 Pirie Street, Adelaide is offered at a time of limited supply of development sites, strong demand for CBD residential apartments and record low interest rates.

Colliers International recommends this strategic investment property for your most serious consideration.

*Approx

Property ID: 501727033Last Updated: 12 Apr 2017

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