An iconic Hutt Street corner site in Adelaide, fully leased to five tenants has hit the market, as investors continue the hunt for well-located commercial assets with long term covenants.
Located at 202-204 Hutt Street, the two-level building comprising 504sqm*, with an estimated Net Income of $245,000* per annum is for sale through Jed Harley and Sam Alexander of Cushman & Wakefield and Jamie Guerra and Andrew Zammit of Leedwell.
Hutt Street is leading the resurgence of the Adelaide CBD after dark and weekend visitors with the Streets’ cafes, bars and restaurants all enjoying strong patronage.
Jed Harley of Cushman & Wakefield said “Key corner properties along the Hutt Street Precinct are rarely available for purchase.
“202-204 Hutt Street presents the opportunity for intergenerational investment on what is arguably Hutt Street’s best and most recognisable corner” he said.
202-204 Hutt Street provides investors a secure and recognisable tenancy mix, including renowned destination cafe Ballaboosta operating out of this location.
Sam Alexander said, “Demand for Hutt Street has been at an all-time high over the preceding 12 months for investors, due to the attractive price point, diverse tenancy mix and the charm of this ‘village in the CBD’.”
202-204 Hutt Street, Adelaide is for sale by Expressions of Interest closing Thursday 24th November 2022 at 4pm (ACDT).