Melbourne asset manager sells city fringe Adelaide office
Peak Equities has sold a north Adelaide office/warehouse bought six years from Spotlight Group with an unusual leaseback.
The Melbourne based asset manager led by Tom Borsky banked $25.25 million for 6-14 Oxenham Street, Dudley Park.
It paid $16m in 2020.
That seller was Spotless Group which developed the asset in 2012 for its Downer EDI subsidiary which has the head lease until February, 2028.
Spotless then sub-let the asset for seven years to the Department of Defence which invested $4m on a fit-out.
The federal government renewed its lease in 2021 and 2023 and still occupies (continues below).
On 9000 square metres the property includes a 3220 sqm office and 1200 sqm warehouse.
Dudley Park is about three kilometres from Adelaide.
It is nine kilometres south east of Port Adelaide.
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