FOR SALE
Under Contract

985-987 South Road
Melrose Park SA 5039

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 810m2
Land area: 2008m2
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Fully Leased Prime Investment Opportunity! Or develop (STPC)

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 Private Treaty.
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
Great street exposure
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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 1,187 properties. Over the last 5 years, Houses in Melrose Park have seen a 85.10% increase in median value, while Units have seen a 75.91% increase. As at 31 October 2024:

  • The median value for Houses in Melrose Park is $1,081,456 while the median value for Units is $577,253.
  • Houses have a median rent of $580 while Units have a median rent of $400.
There are currently 4 properties listed for sale, and no properties listed for rent in Melrose park on OnTheHouse. According to CoreLogic's data, 38 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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