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Sold on 01 Jun 2024 - Price Unavailable

289-291 Cross Road
Clarence Gardens SA 5039

Bedrooms: -
Bathrooms: -
Car spaces: 15
Floor area: 682m2
Land area: 1080m2
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Property Details for 289-291 Cross Rd, Clarence Gardens

Building Type
Commercial
Floor Size
682m2
Land Size
1080m2
Local Government
Mitcham
Lot/Plan
A1/D37092

Last Listing description (June 2024)

Successfully Under Contract

A Bluechip investment opportunity securely leased and home to South Australia’s iconic and award-winning chocolate makers, Bracegirdle’s. A decade-long occupancy as Bracegirdle’s main headquarters and streamlined dessert production, administration and distribution, they are able to efficiently service their national demand as well as their own three dessert cafe locations in South Australia. This includes one onsite and two other thriving Bracegirdle cafe's in Blackwood and McLaren Vale.

Centrally located and just 500 metres from Adelaide’s North-South Transport Corridor (South Road), the property is well positioned on a 1080sqm* corner allotment which provides great access to the 15 onsite carparks plus street carparking on Ackland Avenue. The main building constructed in 1935 relishes in its magnificent english-tudor architecture catching the eyes of 24,500 drivers that pass everyday (DIT, 2021*). There is so much to list- best to make an appointment with Nic for a private walk-through today!

Lease Details:

- 7 Year Lease to 2031 (with a further option to renew)

- Long-standing SA iconic tenancy- Bracegirdle’s House of Fine Chocolate

- Net Rental $98,375.48 p.a. + GST

- Recoverable Outgoings include Council, ESL, Water, Build Insurance, Property Management & General Maintenance

- Re-purposed site and building to suit

Building Description:

- 540sqm Main Building Area

- Large light-filled and rustic open Café area with exposed timber beams and roof lines

- Enjoy a dessert delight and watch it all being made through the glass backdrop that forms the sealed chocolate making room

- Central elevated counter with glass display

- An additional 96sqm of undercover outdoor seating

- Commercial grade kitchen/ patisserie

- Public Female and Male amenities on the ground floor

- Packaging Rooms and Product Storage on the eastern side of the building

- Loading with delivery vehicle accessibility at the back

- Split System Air Conditioning through all the areas for separate cooling and climate control

- Upstairs Balcony Area, Storage and Office Administration self contained with its own kitchenette and bathroom amenities

- Storage Shed 44sqm with double roller door access

- Recently re-painted exterior rendered facade

Land Specs:

- Corner allotment of 1080sqm*

- Dual street frontages to Cross Road & Ackland Avenue

- Zoned as Suburban Neighbourhood

- Registered Use: Food Manufacturing/ Retail Café/ Storage

- Onsite and street car parking

- Fantastic Redevelopment Potential (STCC)

- No Heritage or Historical Conservation currently listed over the property

Property Code: 2461

Property History for 289-291 Cross Rd, Clarence Gardens, SA 5039

A timeline of how this property has performed in the market
Last Sold
01 Jun 2024
Listed for Rent
$460/w
25 May 2013
  • 01 Jun 2024
    Sold
  • 26 Feb 2024
    Listed for Sale Successfully Under Contract
  • 25 May 2013
    Listed for Rent - Price not available
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About Clarence Gardens 5039

The size of Clarence Gardens is approximately 1 square kilometres. It has 2 parks covering nearly 7.2% of total area. The population of Clarence Gardens in 2011 was 2,218 people. By 2016 the population was 2,305 showing a population growth of 3.9% in the area during that time. The predominant age group in Clarence Gardens is 30-39 years. Households in Clarence Gardens are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Clarence Gardens work in a professional occupation. In 2011, 72.4% of the homes in Clarence Gardens were owner-occupied compared with 73.6% in 2016.

Clarence Gardens has 982 properties. Over the last 5 years, Houses in Clarence Gardens have seen a 75.07% increase in median value, while Units have seen a 73.86% increase. As at 31 July 2024:

  • The median value for Houses in Clarence Gardens is $1,217,390 while the median value for Units is $508,956.
  • Houses have a median rent of $590 while Units have a median rent of $408.
There are currently 4 properties listed for sale, and 1 property listed for rent in Clarence gardens on OnTheHouse. According to CoreLogic's data, 43 properties were sold in the past 12 months in Clarence gardens.

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Contact agent
Nick Mastrangelo
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Pasquale Mastrangelo
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Mastracorp Real Estate
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Disclaimer
Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.