Belle Property Commercial Adelaide is delighted to be favoured with instructions to present 2-20 Magill Road, Norwood, an exceptional opportunity for sale by private treaty.
Held under the same ownership for more than 30 years, the property is perfectly positioned as a prime mixed-use redevelopment site with significant holding income. The income is generated from 12 commercial tenancies, anchored by Banner Mitre 10. Redevelopment clauses provide the opportunity to unlock the redevelopment potential of the property at any time.
The location is undeniably Blue Chip being less than two kilometres from Adelaide's CBD in the highly sought suburb of Norwood in Adelaide's inner east.
Comprising 13,700sqm* of land, this expansive corner site enjoys major street frontages to Magill Road, Fullarton Road and Chapel Street thus affording outstanding exposure and flexibility in future development.
Planning provides scope for redevelopment up to 10 storeys potentially suiting retail, commercial and residential uses*. Concept massing plans demonstrate the extent to which the property may be redeveloped and will be made available to qualified buyers.
Key Points for Consideration - Super site of 13,700 sqm* - Located less than two kilometres form Adelaide's CBD - Strategic position at the gateway to Adelaide's affluent Eastern suburbs - Zoned Urban Corridor (Boulevard) - Scope for mixed use redevelopment up to 10 storeys* - Significant holding income with scope for further upside - Combined street frontages in excess of 370 metres
Consolidated land holdings of this scale and in this location so close to the Adelaide CBD are seldom seen.
Contact David Buenfeld 0416 045 675 for more information on this property.