This article is from the Australian Property Journal archive
WESTPAC’S main business hub for the north east has come to the market in one of Adelaide’s highest profile suburban retail offerings of the year.
The Modbury property at 946 North East Rd has a single storey building of 563 sqm and is on a prominent corner site of 1,401 sqm that is next to Modbury Triangle Shopping Centre, and a short distance from Westfield Tea Tree Plaza and Modbury Hospital.
The major lender has a five year lease with a five year option that returns gross rent of $252,144 each year with 3% annual reviews.
JLL’s Roger Klem and Jed Harley, together with ProRealty Property Consultants agents Kon Kavooris and Sam Matheson have been appointed to sell the asset.
“This bank continues to be the major retail and commercial brank servicing retail in business customers in Adelaide’s north eastern metropolitan areas, in particular the large number of businesses situated around Westfield Plaza and the Modbury Triangle,” Harley said.
The building is configured as a typical bank branch with an open plan central space with tellers and waiting areas, partitioned offices and meeting rooms to the perimeter.
Expressions of interest close on 7th August.
