329-331 Henley Beach Road, Brooklyn Park
overview
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1P3264
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Retail
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Sold
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988 sqm
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1948 sqm
Description
High-Yielding Western Shopping Strip
Offered for the first time in over 35 years, McGees Property is proud to offer 329-331 Henley Beach Road, Brooklyn Park for sale by Public Auction. A fully leased strip in a prominent western corner only minutes from the Adelaide Airport and CBD.
This longstanding shopping strip offers an outstanding opportunity to secure a substantial landholding of 1,948 square metres* and an excellent rental return. Comprising 10 tenancies among 12 shops, this iconic corner site generates a net income of $231,578* with all leases providing 3% to 5% annual rent increases.
With significant rental upside and opportunities to renovate or redevelop, this location is the ideal opportunity to secure a long-term development site or investment in a growing inner-western location.
Key features of this investment property are:
- Net income of $231,578 per annum* (after deducting Land Tax on a single holding basis)
- Multiple income streams from various retail and service tenants
- Potential for future rental upside with an average rate per square metre of $243.52
- Attractive lease terms with 3% to 5% rental increases annually for all tenancies
- Longstanding retail shopping centre with a lettable area of 988 sqm*
- Substantial land holding of 1,948 square metres*
- High exposure corner positioning on Main Road
- 5.5 km* from the CBD, 1.3 km* from Adelaide Airport,
- 1 km* from Marion Rd and 2.3 km* from South Rd
- Zoned General Neighbourhood – GN in the City of West Torrens
The property is offered for sale by Public Auction to be held on the property on Friday 11th March 2022 at 11.00 a.m.
To discuss this offering further and to arrange an inspection, please contact Saxon Smith or Nova Gaud of McGees Property (RLA 1722)
(* approx. Any outlines indicative only)
This longstanding shopping strip offers an outstanding opportunity to secure a substantial landholding of 1,948 square metres* and an excellent rental return. Comprising 10 tenancies among 12 shops, this iconic corner site generates a net income of $231,578* with all leases providing 3% to 5% annual rent increases.
With significant rental upside and opportunities to renovate or redevelop, this location is the ideal opportunity to secure a long-term development site or investment in a growing inner-western location.
Key features of this investment property are:
- Net income of $231,578 per annum* (after deducting Land Tax on a single holding basis)
- Multiple income streams from various retail and service tenants
- Potential for future rental upside with an average rate per square metre of $243.52
- Attractive lease terms with 3% to 5% rental increases annually for all tenancies
- Longstanding retail shopping centre with a lettable area of 988 sqm*
- Substantial land holding of 1,948 square metres*
- High exposure corner positioning on Main Road
- 5.5 km* from the CBD, 1.3 km* from Adelaide Airport,
- 1 km* from Marion Rd and 2.3 km* from South Rd
- Zoned General Neighbourhood – GN in the City of West Torrens
The property is offered for sale by Public Auction to be held on the property on Friday 11th March 2022 at 11.00 a.m.
To discuss this offering further and to arrange an inspection, please contact Saxon Smith or Nova Gaud of McGees Property (RLA 1722)
(* approx. Any outlines indicative only)
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