Securely Leased CBD Investment with Strong Future Development Potential

Cushman & Wakefield is proud to offer 176-180 Pulteney Street, Adelaide for sale by Expressions of Interest – a fantastic fully leased building on a significant inner city land holding.

176-180 Pulteney Street comprises a two-level converted warehouse style building of approximately 2,400sqm lettable area, fully leased to Rising Sun Pictures, a subsidiary of global film giant Pitch Black Company. 

With a lease term extending out to 30 June 2027, plus options, the property provides a strong secure income stream, currently generating approximately $869,450 per annum plus GST on a fully net basis with the tenant paying all outgoings including land tax. In excess of $1.2m of tenant and landlord works have been undertaken in the past 2 years.

The building sits on an outstanding core CBD land holding of approximately 1,508 square metres, underpinning the long-term value of the property with strong future development potential. The Capital City zoning allows mixed use development including residential, commercial, retail and others (subject to consents).

In a market that is starved of quality CBD investment opportunities, we strongly recommend this asset for your consideration. 

Key property features below:

- Core CBD landholding of 1,508sqm* with front and rear access

- Two level building of 2,400sqm* configured as offices and film production studios

- Securely leased to a subsidiary of a global company until June 2027

- Fully net lease structure with tenant responsible for all outgoings

- Passing net income of $869,450* per annum plus GST

- 11 on site car parks accessed from Sudholz Place at the rear

- Strong future development potential in a great CBD location

176-180 Pulteney Street, Adelaide is offered for sale by Expressions of Interest closing 21st February at 4pm. For more information or to arrange inspections please contact exclusive selling agents Cushman & Wakefield.

RLA 315726

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