Longstanding Salvos On Site 30+ Years | Leased to ‘Government Funded’ Institution
Description
Burgess Rawson, together with Leedwell Adelaide, are pleased to offer to market the Salvation Army Australia (Salvos) at 1/418 Magill Road, Kensington Gardens SA for sale via Investment Portfolio Auction 174 on the 19 February 2025.
This investment has the following key highlights:
+ 10-year lease to Salvos to 2028 plus options to 2043.
+ Salvation Army Australia: 140+ year old ‘Government funded’ retailer with over 400 stores nationally.**
+ Versatile 202sqm* premises integrated with ‘Salvos owned and occupied’ lots 2 & 3 since 1994.
+ Significant 2,155sqm* parent title with high underlying land value, incorporating 22 car spaces and rear loading bays.
+ Compounding, fixed 3.5% annual rent increases, ensuring income growth.
+ Tenant pays usual outgoings including land tax.
+ Key Magill Road location with 23,000 vehicles passing daily*** an important arterial link connecting the inner eastern suburbs to the Adelaide CBD.
+ Situated in the heart of Kensington’s retail precinct with ALDI, BP, Anytime Fitness, Nido Early Learning, and the Firle Plaza anchored by Coles and Kmart all within 1km.*
+ Stamp duty free investment, no stamp duty payable on commercial property in South Australia.
+ Kensington Gardens: affluent inner eastern suburb, only 5km* from the Adelaide CBD with a median house price of $1,615,000.****
+ City of Burnside: one of Adelaide’s most established residential LGA’s, home to 47,444 residents supporting 19,903 jobs and an annual economic output of $6.23bn.*****
+ Adelaide Growth Masterplan: the SA Government’s 30-year vision to accommodate an additional 670,000 residents by 2051, building 315,000 new homes to support economic and population growth. ******
+ Net Income: $95,420 pa* + GST.
For sale via Investment Portfolio Auction 174
10:30am AEDT, Wednesday 19 February
Crown Casino, River Rooms, Melbourne VIC
Burgess Rawson & Associates Victoria Pty Ltd – RLA 327401
Leedwell – RLA 222531
*Approx
**The Salvation Army Australia
***GapMaps
****Realestate.com.au
*****Remplan
******Greater Adelaide Regional Plan
Enquire
Contact agents
Romanor Falconer Sales Executive
0413 830 808Beau Coulter Partner
0413 839 898Enquiry Form
Kensington Gardens, SA
1/ 418 Magill Road
For Sale by Portfolio Auction
This property is part of Portfolio 174
Price: Contact Agent
Contact agents
-
Romanor Falconer Sales Executive
0413 830 808 -
Beau Coulter Partner
0413 839 898