FOR SALE
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985-987 South Road
Melrose Park SA 5039

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 810m2
Land area: 2008m2
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Auction Time
Fri 2 Aug 12:00 pm
Inspection Times
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Fully Leased Prime Investment Opportunity! Or develop (STPC)

Auction Location: 985-987 South Road, Melrose Park SA 5039
Offered for the first time in over 30 years, LJ Hooker Commercial Adelaide is proud to present to the market, 985-987 South Road, Melrose Park for sale via Public Auction on-site, Friday 2nd August 2024 at 12:00 noon.
This is a chance to secure a fully leased investment with a steady income stream, diverse yet complimentary tenancy mix, and lengthy WALE. This property presents a lucrative opportunity for astute investors seeking a low-maintenance addition to their portfolio.
Anchored by international franchise Zambrero, there are four secure tenants in this prime location. The current tenancy mix includes Zambrero, Gilmour's Comfort Shoes, UMS and The Cake Hut. A hive of retail activity in this bustling retail strip along one of South Australia's business arterial roads, and located directly opposite the property is sub regional shopping centre Castle Plaza owned by Vicinity Centres.
Situated on South Road with a total site area 2,008 sqm* spread across two Certificates of Title the property offers a substantial land holding, strong holding income, plus the potential for further development (STPC).
Key Selling Points:
Complimentary tenancy mix
Land area 2,008 sqm*
Net Lettable Area 810 sqm*
* Rental increases due for 2 shops in August
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Property Details for 985-987 South Rd, Melrose Park

Building Type
Commercial
Floor Size
810m2
Land Size
2008m2

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About Melrose Park 5039

The size of Melrose Park is approximately 1.3 square kilometres. It has 4 parks covering nearly 1.5% of total area. The population of Melrose Park in 2011 was 2,134 people. By 2016 the population was 2,219 showing a population growth of 4.0% in the area during that time. The predominant age group in Melrose Park is 30-39 years. Households in Melrose Park are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melrose Park work in a professional occupation. In 2011, 66.6% of the homes in Melrose Park were owner-occupied compared with 68.2% in 2016.

Melrose Park has 1,193 properties.

    There are currently 1 property listed for sale, and 1 property listed for rent in Melrose park on OnTheHouse. According to CoreLogic's data, 42 properties were sold in the past 12 months in Melrose park.

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    Mark Tettis
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    Kay Morris
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    LJ Hooker Commercial Adelaide
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