The opportunity to tap into South Australia's strengthening economy is expected to be a drawcard in the sale of 80 Flinders Street.

Completed in 2006 and comprehensively refurbished in 2019, the 12,154 square metre office building is located on a 4,387 square metre site.

The building is 100 per cent leased to industry leading tenants, including BAE Systems, IAG and Beach Energy, providing a WALE of 4.78 years.

The accompanying multi-deck car park, consisting of 694 spaces, is leased to Wilson Australia. 

At a glance:

• The office building and accompanying car park at 80 Flinders Street, Adelaide is for sale via an expressions of interest campaign that closes on June 20.
• CBRE’s Ian Thomas, Alistair Laycock, James Parry and Marc Giuffrida, and Knight Frank’s Guy Bennett, Rory Dyus, Paul Roberts and Neil Brooks have been appointed to market the property.
• The building is 100 per cent leased to industry leading tenants, including BAE Systems, IAG and Beach Energy, providing a WALE of 4.78 years.

CBRE’s Ian Thomas, Alistair Laycock, James Parry and Marc Giuffrida, and Knight Frank’s Guy Bennett, Rory Dyus, Paul Roberts and Neil Brooks have been appointed to market the property for sale via International Expressions of Interest on behalf of Lendlease's Australian Prime Property Fund Commercial.

Mr Thomas said South Australia’s strengthening economy was providing a platform for greater investment in the state. 

“Investment confidence in the state continues to rise, with investors increasingly attracted to the state’s diverse and sustainable economic base, which is unlike the boom/bust market cycle experienced in other states,” he said. 

“South Australia is in a growth phase, which is having a positive impact on office space demand – and subsequent investment in the sector.

Source: CBRE

"We’re seeing increased activity in range of sectors, including defence, resources, technology, education, and healthcare.” 

Mr Bennett said the asset would command wide appeal from buyers seeking 100 per cent leased and multi-tenanted office buildings with a WALE of 4.78 years by income (as at 1 August 2019).

“The building at 80 Flinders Street is one of the most desirable office towers in Adelaide and boasts the highest car park ratio for an office building in the CBD," he said.

"The floor plates are greater than 1,070 square metres, which is very popular in our market.

"The asset also boasts two super floors of over 3,200sqm each, which are the largest in Adelaide.

"In addition, an opportunity exists on level one, where the existing carparks can be converted to office space, adding approximately1,000 sqm."

80 Flinders Street is being offered for sale via International Expressions of Interest closing Thursday 20 June at 4pm.

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