This article is from the Australian Property Journal archive
A LOCAL investor has snared an Adelaide metropolitan office investment property on a yield of 7.5%.
Colliers International sold the property at 47 Harrow Road, St Peters for $775,000.
Executive Oliver Totani said solid inner metropolitan investment opportunities are limited and the opportunity to acquire a fully leased investment asset in a high end suburb was a rare offering.
“St Peters is one of Adelaide’s most exclusive suburbs and the property is certainly one of the most identifiable in the suburb. It’s also not far from Kent Town and the popular Fringe office precinct.
“While there have been few of them, quality investment assets in this price bracket [sub $1 million] continue to perform well, experiencing good rental and capital growth,” he added.
The 19th century villa has a building area of 303 sqm and is situated on a substantial corner site of 569 sqm.
Australian Property Journal
