Colliers International to auction versatile mixed-use investment property
A multi-faceted investment opportunity has come to market in Findon, offering prospective buyers a diversified low-risk income stream and 1,934sqm of inherent land value on a highly exposed main road.
The versatile site at 231-235 Findon Road encompasses six apartments, three double-storey townhouses, a four-bedroom house and a retail shop within two titles.
Colliers International’s Oliver Totani and Tom Isaksson have been appointed to the auction campaign, saying they expected interest from a variety of traditional residential unit-block investors, commercial investors looking for security of income, and land-bankers who would value the inner-western location and passive holding income.
“In a market starved of well-located, multi-faceted investments offering diversified income and inherent land value characteristics, this property is destined to tick the boxes for investors, land-bankers and value-adders across the board,” Mr Totani said.
231 Findon Road comprises a four-bedroom, two-bathroom residence with three two-storey townhouses at the rear; while 233-235 Findon Road offers a retail shop, formerly a long-standing hair salon, at the front, plus a block of six apartments with parking at the rear.
Mr Totani said the property was a “genuine value-add proposition” with rental upside through refurbishment.
“The property as an investment has a long-standing pedigree and, in my opinion, provides a low-risk residential-type investment offering commercial-type returns,” he said.
“The flexible zoning means as a land-bank opportunity it also works, as it provides the potential for childcare, health services, offices, consulting suites and high-density residential development.”
Mr Isaksson identified the location, about nine kilometres from the Adelaide CBD and opposite the busy Findon Shopping Centre, as a key selling point.
“The solid locational characteristics are further emphasised by excellent lifestyle features, including the property’s close proximity to popular beachside suburbs like Grange and Henley Beach, renowned for their restaurant and café culture,” he said.
“Impressive golf clubs such as Grange, Royal Adelaide and Kooyonga are also only a short distance away.
“Should the investor intend to redevelop or landbank with the existing assets as they are, this is a prominent address.”
231-235 Findon Road, Findon, goes to auction on Friday, August 25 at 11.30am on site.