Dominant Land Holding with Income

RWC Adelaide are proud to present to market 2 Portrush Road, Payneham.

Ideally located in the heart of Adelaide's eastern suburbs, 2 Portrush Road offers a once in a generation opportunity to acquire a dominant land holding with strong existing cash flow. The property is set on some 7,259sqm and is currently configured with 3,954sqm of improvements across a range of tenants. It is easy to see why Wellington Centre has always been a popular home for eastern suburbs business thanks to the fantastic location and 154 on site car parks.

For groups looking to the future development potential of the site the property benefits from the highly flexible Housing Diversity Neighbourhood zoning in the city of Norwood Payneham & St Peters. With frontages to Portrush Road, Payneham Road as well as Henry Street there is a wide range of future outcomes which could be achieved on site (STCC).

RWC Adelaide highlight the below key investment features:
• Significant inner eastern land holding of 7,259sqm*
• Estimated net passing income of $802,103 p/a with room for growth
• Gross lettable area of 3,954sqm*
• Strong tenant demand with central location and 154 on site car parks
• Zoned Housing Diversity Neighbourhood in the City of Norwood, Payneham & St Peters
• Diverse tenant profile today including Fresenius Medical Centre
• NABERS Rating - not disclosure affected

2 Portrush Road, Payneham is offered for sale via Expressions of Interest closing Thursday the 11th of June at 4pm.

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