The property, at 49-51 Vennachar Drive, Hallett Cove, is leased to Paisley Park Early Learning Centres Pty Ltd on a twenty-year lease with options and has an annual net rental income of $278,518.

Situated approximately 21 kilometres from the Adelaide CBD, the site comprises a 685 square metre building on a 2,390 square metre parcel of land with street frontages to Vennachar Drive, Quailo Avenue and Jupiter Street.

The successful sale was negotiated by CBRE’s Harry Einarson and Mitch Curnow on behalf of Accord Property.

At a glance:

• Tenanted childcare centre in SA sells for $4.324 million
• The property provides an annual net income of $278,518 
• Abolition of stamp duty drives interest in SA investment properties

“The high level of competition for the property, predominantly from interstate private investors, demonstrates strong demand for commercial property in South Australia, driven by recent legislative changes,” Einarson said.

“The purchaser noted the abolition of stamp duty as a key driver in their entry to the South Australian market.”

Mr Curnow said the property benefited from several factors considered attractive in the current investment market. 

”This property ticks all the boxes sought after by today’s investors; secure income from a long-term lease, strategic location and presented as a premium grade investment asset should be,” he said.

“With a lack of quality investment stock hitting the market over the past few months there are certainly further opportunities for owners to capitalise on a hot property market.”

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