Construction group cashes out of Adelaide office
Ahrens has sold an inner-city Adelaide office after five years, an extension and swank renovation.
The two level building at 192 Melbourne Street, North Adelaide, is understood to have sold for over $10.7 million.
On 859 square metres it contains 22 car parks.
The c1067 sqm improvement is split as four tenancies.
The office area is rated A-grade.
Value-added investment
Ahrens paid $4.07 million for 192 Melbourne St.
The revamp involved demolishing about half of the 1980s building (then measuring 922 sqm) while retaining its structural shell, installing a new steel structure and adding exposed steelwork, brick boundary walls and Mondo & Zintl cladding (continues below).
New services, a lift, stairs and glazing were installed.
Internal work included timber flooring, wet-area tiling and integrated joinery.
Ahrens moved into part after it was completed in early 2024.
The incoming owner also plans to part-occupy.
Collins Bateman’s Nick Edwards brokered the off-market deal.
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