Not for profits trade major inner-city office
Recruitment agency Maxima, which last month lost federal funding resulting in the need to end many disability training services, has sold its Adelaide headquarters.
Another not for profit, Helping Hand, provider of home care, residential aged care, retirement living and wellness services, is the buyer of 176-180 Port Road, Hindmarsh – for $15.18 million.
It is presently based at nearby Molesworth St, North Adelaide.
The deal comes two months since we reported the Catholic Archdiocese of South Australia outlaid $24m for a two level office, for Catholic Education South Australia to occupy, at Parkside, in the city’s inner south.
176-180 Port Road
On 2318 square metres at the corner of Crawford Lane, with rear access to Orsmond St, the Hindmarsh property is passed by some 45,600 cars a day, the marketing agents said.
Developed in 2007, over two floors, it contains 1895 sqm, recently renovated, rated A-grade.
Also with 67 undercover car parks, the NABERS energy rating is 5-star.
Being in South Australia, there is no stamp duty payable.
“In a market starved of high-quality corporate grade office assets, properties of this standard, positioned within strategic fringe locations are rarely offered and highly sought after, with the campaign a testament to this,” Knight Frank’s Ryan Mills, who brokered the deal with Chet Al and Chris Clemente, said.
“The price achieved is a testament to the strength of Adelaide’s metro office market for sub-$20m owner occupiers, with the result setting a new benchmark rate [per sqm],” he added.
Hindmarsh is two kilometres north west of town.
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