Site of former Enigma Bar changes hands
A prominent corner site in Adelaide CBD’s West End has changed hands.
The Manera Building at 167A-173 Hindley Street on the south west corner of Morphett was acquired for $10.05 million by a local developer planning a high rise apartment based mixed use project.
The seller was the Manera family, founder of furniture retailer HaggleCo, which closed its doors last July after two decades.
McGees Property’s Yee Ng and Simon Lambert were the agents.
Next chapter for corner site
Diagonally adjacent to Light Square, the Hindley St site spreads 1794 square metres zoned City Main Street, with development upside to 53 metres.
The existing building contains 1839 sqm over two levels (continues below).
Formerly the Enigma Bar, it is now configured with five tenancies.
Restaurants Phonatic, New India and Seoul Express are amongst the occupiers.
The leases are subject to redevelopment provisions.
The sale price reflects a 3.14 per cent fully let market yield.
Mr Lambert said the West End precinct had undergone significant change in recent years driven by increased residential occupation and lifestyle-focused development.
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