322 Main North Road is located 7.5 kilometres north of the Adelaide CBD on a valuable corner allotment with busy expansive frontages onto Main North Road and Enfield Avenue. An estimated 40,700 cars pass the site daily.
The prime 1,700sq m commercial holding trading as Clark Rubber, which has occupied it since 2014, provides an annual rental income of $135,061 plus GST and outgoings.
The new 5 year lease until June 2024 contains a 5-year option to renew, 3% fixed annual increase and a market review upon renewal.
“The building features a large, modern, showroom/warehouse, offices, kitchen, staffroom, and amenities. The 857 square metre building is serviced by evaporative cooling and features abundant natural light” says Mr Bobridge.
“The site is serviced by a spacious 18-lot carpark which is accessible from Main North Road and Enfield Avenue. Roller door access is provided to the North for loading and the clearspan warehouse with clearance heights from 4.9 to 5.6 metres is highly versatile.”
Clark Rubber have 60 stores nationally, including five stores in South Australia, specialising in pools, foam, and rubber, meaning they have a unique place in the Australian retail market.
With interest rates low the return on investment will be higher than has been available for many years.
“All of this of course makes this property a great investment opportunity,” said Mr Bobridge.
The Public Auction will take place on-site at 322 Main North Road, October 2, 11.30am.
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