Colliers is pleased to announce the successful sale of a prime site at 16 Andrew Street, Adelaide, on behalf of HandleBar Group Australia.

This  strategic purchase follows the group's acquisition of the neighboring property at 14 Andrew Street in  2022, managed by Colliers' Rhys Newman. 

The HandleBar Group's latest acquisition is part of its ongoing expansion strategy within the  Adelaide CBD, with the newly secured property adding to the total occupied area of 819 sqm.

The  current workshop on 16 Andrew Street will be converted into a vibrant hospitality venue, enhancing  HandleBar's business offerings. 

Rhys Newman, who has been involved in both transactions, commented, "After helping HandleBar  Group Australia secure 14 Andrew Street in 2022, the business wanted to explore options to further  expand their footprint within the CBD. Following our recent success, they once again engaged  Colliers to unlock and negotiate the acquisition of the adjoining site." 

The Adelaide CBD is experiencing significant development activity, including the $400 million Market  Square project, the $130 million mixed-use Victoria Tower, and the Renewal SA bus depot mixed-use  project, which will feature over 390 new apartments.

These projects underscore the area's potential  for long-term capital growth and development. 

Jason Seris from HandleBar said, “We plan on utilising the combined sites for various purposes,  including starting and ending HandleBar tours, operating a fully licensed bar, hosting events, and  offering live music and American yard-style games. 

"The South Australian market remains resilient, particularly in the vacant possession/owner-occupier  space, with strong underlying demand. We are also seeing increased interest from the eastern  seaboard as more buyers recognise Adelaide's value proposition," added Newman.

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