Burger Bar retail asset on the menu

Burger Bar retail asset on the menu
Burger Bar retail asset on the menu

The well-known North Adelaide Burger Bar has been listed for auction on September 15.

The two-storey Torrens-titled property at 51 O’Connell Street has been home to the popular eatery for more than 50 years.

The listing comes at a time when “High Street” retail assets are in limited supply, according to Colliers International, which is marketing the property.

The marketing is being done by Colliers International’s Oliver Totani and Tom Isaksson.

The property generates a net income of about $72,000 per annum.

Totani said the value-add potential through redevelopment or refurbishment, subject to council approval, was immense.

“O’Connell Street has been going from strength to strength in recent times, due to the uptake in new tenants, especially in the food and beverage space,” he said.

“The rejuvenation of the precinct has seen it establish itself as one of Adelaide’s pre-eminent shopping, restaurant, café and entertainment precincts.

“North Adelaide is one of the city’s highest socio-economic suburbs and is now considered a premier retail, restaurant and entertainment destination, while also acting as the main thoroughfare between the CBD and the inner northern suburbs,” Isaksson said, adding the location of the shop was a key selling point. 

“The property’s high-profile position affords outstanding exposure to substantial amounts of both passing foot and vehicular traffic.”

Tags: 
Adelaide Commercial Property

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