376 Gilles Street,
Adelaide, SA 5000

** UNDER CONTRACT **

OUTSTANDING INVESTMENT OPPORTUNITY on 2 SEPARATE TITLES!

These classic Victorian stone fronted Cottages/Maisonettes (circa 1890) are on 2 separate titles.

The property is superbly located in the prestigious south-eastern corner of the CBD and sited on a prominent corner allotment of 468 square metres approx.

This unique property lends itself to many exciting options for the astute buyer whether you are an Owner Operator, Investor or Developer/Builder.

1. The OWNER OPERATOR

If you are an owner operator looking to stop paying rent and relocate your business to this prized location, this property will have immense appeal. The transition will be seamless as the property has been used as offices (with consent use) for many years. As an owner operator, you will also be secure in the knowledge that the property has great potential in the future as per the options itemised below.

2. The DEVELOPER/BUILDER

For Developers/Builders, the property would ideally suit a conversion back to two Cottages/Maisonettes with fantastic potential to renovate and extend in this excellent corner location subject to council consents.
Already having 2 separate titles coupled with the sought after south-eastern CORNER location only enhances the appeal.

3. The INVESTOR

With respect to Investors the versality of the property is exceptional. An investor could either:

i) Keep leasing the property as commercial offices OR

ii) Change the land use to Residential (subject to council consents) and lease the property as an 8 room dwelling as per Residential Concept plan (subject to concil consent) attached online. Adopting the cost effective Residential Concept Plan would yield an excellent gross rent of approximately $50,000 per annum in today’s market.

iii) Alternatively, due to the prime corner position, the property also has the added benefit of future SUBDIVISION potential. ie, Subdivide rear portion of the corner allotment (subject to council consents). Then SELL the Torrens Titled vacant allotment and retain the remaining 2 cottages on a separate title as a rental property yielding excellent returns on investment.

FEATURES:
- Striking stone fronted facade
- Beautiful, period wrought iron front fence
- 8 large main rooms
- 180 square metres approx of building area
- Separate kitchen
- Northerly rear aspect
- Front and rear access
- 2 W.C’s
- On site parking for 6 motor vehicles ((seldom found in the city) - Valuable side access via double gates on Power Street

From this prime city location you are only an easy walk to the cosmopolitan Hutt Street cafe/restaurant precinct (CIBO, Ballaboosta, Biga Cafe, Coffylosophy) and with the added advantage of having the wonderful open space of the East Parklands literally around the corner.

Whether going for a walk/jog or cycle at Victoria Park or simply having lazy Sunday brunches with your friends - the location doesn’t get much better!

A RARE INVESTMENT OFFERING!