124 Franklin StreetAdelaide SA 5000
Property Details for 124 Franklin St, Adelaide
Last Listing description (July 2023)
Savills Adelaide as the exclusive sales agents are pleased to offer 124 Franklin Street, Adelaide via Expression of Interest.
The proposed boutique hotel development site comprises of 200 boutique rooms and guest facilities and occupies a prime inner city location adjacent the Gouger Street food district, Chinatown, Central Market and new GPO development.
The asset is strategically positioned in the centre of activity to service commercial offices and entertainment patrons and offers significant food options. The hotel will be located adjacent the legal precinct in Adelaide which includes the courts, legal offices and para legal services.
Key features include:
- Active Hotel Development with HMA agreed with coupons
- Elegant and well-appointed guest rooms
- Hotel Vacant Possession capacity
- Regular shaped site area of 575sq m* with rear access
- Zoned Capital City (maximum building height of 53 metres) by City of Adelaide Council
- Current improvements offer 562sq m* net lettable area
- Significant site in desirable location in Adelaide CBD core
For further information on this opportunity, please contact the exclusive marketing agents.
Property History for 124 Franklin St, Adelaide, SA 5000
- 15 Dec 2023Sold for $4,437,000
- 27 Jul 2023Listed for Sale Contact Agent
- 21 Jan 2020Listed for Sale Not Disclosed
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0About Adelaide 5000
The size of Adelaide is approximately 10.2 square kilometres. It has 42 parks covering nearly 50.5% of total area. The population of Adelaide in 2011 was 12,961 people. By 2016 the population was 15,129 showing a population growth of 16.7% in the area during that time. The predominant age group in Adelaide is 20-29 years. Households in Adelaide are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Adelaide work in a professional occupation. In 2011, 31.3% of the homes in Adelaide were owner-occupied compared with 32.4% in 2016.
Adelaide has 17,717 properties. Over the last 5 years, Houses in Adelaide have seen a 57.01% increase in median value, while Units have seen a 24.34% increase. As at 31 October 2024:
- The median value for Houses in Adelaide is $1,128,901 while the median value for Units is $517,565.
- Houses have a median rent of $610 while Units have a median rent of $580.
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