Savills lists two long-held adjoining Adelaide Chinatown properties

Two adjoining properties located in Adelaide’s Chinatown precinct have hit market after being owned by one owner for more than 20 years. 

Savills Australia’s Rob Williamson and Rino Carpinelli in conjunction with JLL’s Roger Klem and Jed Harley have been appointed to sell the two allotments via an expressions-of-interest campaign and are expected to receive a circa figure of $20 million, with offers expected to come from local, interstate and offshore investors. 

Both properties overlook Gouger Street with a street frontage of 29.39 meters and a total site area of approximately 1,167sqm.

The hotel is leased to the Talbot Hotel Group whilst the restaurant property is leased to Trancent Pty Ltd which trades as Ba Guo Bu Yi Chinese Restaurant. 

Together both properties generate approximately $680,244 per annum and Mr Williamson said the properties are perfectly poised for outstanding capital growth. 

“Properties on this strip are very tightly held and opportunities in the heart of the precinct are seldom offered to the market for sale,” he said. 

“The strength of the trade in the precinct has acted as the catalyst for the rejuvenation of the surrounding streets and lanes,” Mr Carpinelli added.