SOLD
Sold on 26 Jun 2024 for $1,330,000

GROUND FLOOR/83 Melbourne Street
North Adelaide SA 5006

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 224m2
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Property Details for Ground Floor/83 Melbourne St, North Adelaide

Building Type
Commercial
Land Size
224m2
Local Government
Adelaide
Lot/Plan
U20/S14216

Last Listing description (October 2023)

Savills is pleased to offer to the market Ground Floor 83 Melbourne Street, North Adelaide SA.

The opportunity presents itself for a restaurant, caf, retail, or commercial operator to occupy this well-positioned and well-presented restaurant to operate in the tightly held area of Melbourne Steet North Adelaide.


Owned and operated for over 20 years, the building is surrounded by a mix of commercial and residential properties with 15,400* commuters passing daily. In the heart of North Adelaide's premier food/beverage and retail precinct, the property benefits from being within close proximity to Adelaide Oval, Adelaide University and Hospital with ample off-street parking.

Positioned on the ground floor, the tenancy offers the following for the next owner-operator:

- Building area of 227 sq m*
- Full Commercial Kitchen
- 1800L Grease Trap
- Stove
- freezers
- Refrigerators
- Commercial countertops

The unique property would suit a range of operators looking to capitalize on this walk-in walk-out restaurant on an as-is basis, excluding food and beverage, and plant and equipment unless negotiated prior.

83 Melbourne Street, North Adelaide is for sale by Private Treaty with offers presented in excess of $1,500,000 plus GST.

For further information please don't hesitate to contact the exclusive listed agents below.

Approx*
RLA 1786

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Property History for Ground Floor/83 Melbourne St, North Adelaide, SA 5006

A timeline of how this property has performed in the market
Last Sold
$1,330,000
26 Jun 2024
Listed for Rent
$400/w
05 Oct 2023
  • 26 Jun 2024
    Sold for $1,330,000
  • 22 Sep 2023
    Listed for Rent $400 / week
  • 10 Oct 2022
    Listed for Rent $360 / week
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About North Adelaide 5006

The size of North Adelaide is approximately 5.1 square kilometres. It has 40 parks covering nearly 57.8% of total area. The population of North Adelaide in 2011 was 6,678 people. By 2016 the population was 6,969 showing a population growth of 4.4% in the area during that time. The predominant age group in North Adelaide is 20-29 years. Households in North Adelaide are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in North Adelaide work in a professional occupation. In 2011, 49.1% of the homes in North Adelaide were owner-occupied compared with 48.8% in 2016.

North Adelaide has 4,725 properties. Over the last 5 years, Houses in North Adelaide have seen a 65.28% increase in median value, while Units have seen a 37.73% increase. As at 31 October 2024:

  • The median value for Houses in North Adelaide is $1,503,479 while the median value for Units is $728,363.
  • Houses have a median rent of $700 while Units have a median rent of $550.
There are currently 19 properties listed for sale, and 22 properties listed for rent in North adelaide on OnTheHouse. According to CoreLogic's data, 187 properties were sold in the past 12 months in North adelaide.

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