This article is from the Australian Property Journal archive
THE Real Estate Institute of South Australia has sold its long-term Dulwich headquarters for $3.215 million.
Andrew Turner and Evan Florinis of Commercial SA, together with Alistair Mackie and Tom Isaksson of Colliers, marketed 249 Geenhill Rd, which sold under the hammer.
REISA House has 810 sqm building of building area on a 1,150 sqm city fringe site metres away from Fullarton Rd, and with 34 undercover parking spaces.
President of the REISA, Brett Roenfeldt, said there were over 120 people at the auction and spirited bidding from several parties.
“The result that was achieved is in good measure due to a more confident economy and record low interest rates. It is also evident that the South Australian Government’s recent removal of Stamp Duty on commercial properties played an important part in the result that was obtained.”
He said the new owners plan to occupy the premises as a real estate headquarters.
The REISA is moving to new premises after 27 years, following a difficult period that has seen financial struggles, movement among senior staff, and an overhaul of its registered training courses for agents that was forced by an Australian Skills Quality Authority audit.
