This article is from the Australian Property Journal archive
OVER Fifty Group’s subsidiary Century Funds Management has signed the Royal District Nursing Service of SA to 1 Richmond Rd in Keswick, in one of the Adelaide fringe's largest office deals of the year.
Knight Frank director Martin Potter brokered the 10-year lease for 3,420 sqm of space. RDNS will consolidate a number of its divisions to the one site in Keswick, which is owned by the Century Diversified Property Fund.
Potter said the building’s large floor plates, high car parking ratio and convenient location were the major attractions of the property.
“We are very pleased to be able to secure a high quality tenant on a long term lease prior to the existing tenant’s lease expiry,” Century’s head of assets David Govey said.
He added that deal endorses the quality of the property, which the fund acquired in 2006, as well as the health of the Adelaide office market.
Century has been an active player in the Adelaide commercial property market over the last year, selling its office tower at 45 Grenfell St in the Adelaide CBD in June for $29 million and purchasing the home to South Australia’s Minister of Infrastructure at 131-135 Grenfell St for $16.4 million.
“We are seeing strong demand from investors who are keen to invest in professionally managed property assets in capital cities across Australia,” Govey concluded.
Australian Property Journal
