One interesting building for sale in Adelaide is the long-term leasehold of the Riverside Centre at 115 North Terrace, Adelaide, which is on the market through CBRE and Colliers – Adelaide with expectations of $180 million plus.
The Riverside Centre comprises 11 storeys, including north terrace and plaza and a basement. It was completed in 1989 and has a net lettable area of 22,979 sqm and typical floor areas of 2,200 sqm. The Riverside Centre’s $24 million upgrade project was completed in 2020. Works included solar panels and technology upgrades, new tenant fit-outs, improved end of trip/bike storage facilities, a new plaza and ground-floor lobby and atrium. Tenants include government departments, The SAET Registry and the Department of Human Services. The building has a 5-star NABERS rating.
The building comprises four interconnecting octagonal pods around the central lift core and features a glass dome roof. It last traded in 2010 when bought for $66.8 million by ATLANTIC Australien 2, a subsidiary of the former German shipping giant, Rickmers Group.