Adelaide office building in Salisbury offered for $4 million plus
Katherine JimenezDecember 7, 2020
A fully leased office building in Adelaide's Salisbury is being offered for sale for more than $4 million.
Receivers Kordamentha has appointed Colliers International’s Ian Thomas, Alistair Mackie and Paul Van Reesema to sell the 30 Gawler Street building.
About 50% of the building is leased to the South Australian government for 10 years, starting April 2011.
“With a weighted average lease expiry (WALE) of over five years, investors are assured of a strong return for many years complimented by average fixed rental increases of over 3.5% per annum," said Mr Thomas.
The building generates an estimated net income is $442,702 per year.
The expression of interest campaign closes on November 21.