Hoping to take advantage of South Australia’s strengthening economy, 80 Flinders Street, Adelaide has been placed on the market.
The vendor is Australian Prime Property Fund Commercial, a core wholesale unlisted property trust established in 1994 and managed by Lend Lease Investment Management (Australia) Pty Ltd. The fund has appointed CBRE’s Ian Thomas, Alistair Laycock, James Parry and Marc Giuffrida and Knight Frank’s Guy Bennett, Rory Dyus, Paul Roberts and Neil Brooks to sell the property.
80 Flinders Street comprises the SGIC/CGU Building, an eight-storey building with ground level retail space and an eight-level car parking station with 700 spaces. With a net lettable area of 12,000 sqm the building is fully leased with tenants including CGU Insurance, BAE Systems Australia and IAG; the building is in the Flinders Link precinct.
80 Flinders Street is being offered for sale via International expressions of interest closing Thursday 20th, June. The property last traded as part of a portfolio that also included 60 Light Square and 60 Flinders Street. The price attributed to The SGIC/CGU building was $50m and $23.2m for the car park.
Images provided by Knight Frank Australia.