Ex-SA Lotteries HQ sells

The Marleston site spreads 2083 square metres.

The former SA Lotteries headquarters in Adelaide’s inner west Marleston has sold to EDP Hotel Group and its retirement village arm, Living Choice Australia, which plan to occupy.

The two storey, 1189 square metre office completed in 2004 at 188-192 Richmond Road collected just over $5 million.

The asset contains 45 car parks.

The gambling group recently quit the building which is fit out with partitioned workspaces, a boardroom, meeting room, staff amenities, storage and a lift.

Also with 45 car parks, it occupies a 2083 sqm block, about 700 metres from the South Road intersection.

Consolidation planned

EDP, which owns the HCS banner in Queensland, intends to consolidate operation and administration teams from different locations to the Marleston office, which will dub as its HQ.

“We received…seven offers for he property with interested parties including owner occupiers and investors,” Knight Frank’s Jack Dyson, who marketed the asset with Oliver Totani via an expressions of interest campaign closing in August, said (story continues below).

The former SA Lotteries office.

“The majority of interest came from owner occupiers affected by compulsory acquisitions of the construction of the North-South Corridor,” he added.

“However, the was a surprising number of local private investors who participated in the bidding,” according to the executive.

Marleston is four kilometres from the CBD.

“The property is well designed with a flexible fitout that allows for the space to be easily split into dual tenancies,” Mr Totani said.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.