NEWS

Stand-alone office building encourages business owners to buy, not rent

Colliers International to auction Hawthorn office next month, as increasing number of buyers leave tenancies for investment premises

Owner-occupiers are expected to fight for a prime two-level office building in Hawthorn at auction, as an increasing number of prospective buyers turn to commercial assets.

Colliers International’s Tom Isaksson and Oliver Totani have been appointed to the sales campaign of the well-equipped office asset at 200 Belair Road, saying the record low interest rate environment was shifting business’ attention to the investment market.

“We’re anticipating interest from astute owner-occupiers seeking to leave their tenancies and move into their own premises, establishing a presence within close proximity to the CBD,” Mr Isaksson said.

“That said, it will also be of interest to buyers considering redevelopment, to value add and take advantage of the significant recent uplift in the area, with the imminent $6million redevelopment of Mitcham Square Shopping Centre across the road and the new Aldi directly next door.”

The two-level building comprises open-plan office accommodation, kitchen and bathroom amenities and end-of-trip facilities. A 15-vehicle car park found at the rear, with a right-of-way across the adjacent property, ensures ease of access.

Mr Totani said the central Hawthorn location, about five kilometres south of the Adelaide CBD, was another selling point.

“The property has excellent exposure being at the intersection of Belair and Princes roads,” he said.

“The location is outstanding and set to go from strength to strength, as the brand new Aldi supermarket and Mitcham Square Shopping Centre, which comprises Woolworths and Foodland, continue to draw residents to this thriving hub of amenity.”

The property goes to auction on Thursday, July 6 at 12.30pm.

Colliers International South Australia Adelaide Hawthorn investment services office building commercial property

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