Adelaide Retail Sale – realestatesource https://www.realestatesource.com.au Commercial and residential property news Sun, 10 Jul 2011 11:00:30 +0000 en-US hourly 1 https://wordpress.org/?v=7.0 https://www.realestatesource.com.au/wp-content/uploads/2024/03/rsfav-100x100.png Adelaide Retail Sale – realestatesource https://www.realestatesource.com.au 32 32 IKEA Adelaide Airport For Sale, Expected to Fetch $50 Million https://www.realestatesource.com.au/ikea-adelaide-airport-for-sale-expected-to-fetch-50-million/ Sun, 10 Jul 2011 11:00:30 +0000 http://realestatesource.com.au/wordpress/ikea-adelaide-airport-for-sale-expected-to-fetch-50-million.html ADELAIDE’s IKEA store is for sale, with a price tag of some $50 million.

The store at 397 Sir Donald Bradman Drive at the Adelaide Airport is being offloaded by direct property fund LEX Retail Property Trust. Unit holders agreed to sell the asset at a meeting last October.

The asset includes 24,500 square metres of area over two levels. The complex was built in 2006 and also includes a cafeteria, office, warehouse, loading dock and car park.

Colliers International’s director of investment services Alistair Mackie is marketing the property, which is on a prime corner adjacent to Adelaide’s principal entry – a developing commercial, retail and industrial hub.

]]> IKEA pays a current net rent of about $4.8 million per year. Rent is reviewed to CPI plus 1 per cent. IKEA is responsible for the building’s outgoing and capital expenditure costs, according to the AFR which reported the listing.

]]> Gerry Harvey Buys Half Share of Adelaide Bulky Goods Complex https://www.realestatesource.com.au/gerry-harvey-buys-half-share-of-adelaide-bulky-goods-complex/ Fri, 01 Oct 2010 04:37:48 +0000 http://realestatesource.com.au/wordpress/gerry-harvey-buys-half-share-of-adelaide-bulky-goods-complex.html INTERESTS associated with retail mogul Gerry Harvey will pay $31.8 million for a half stake in an Adelaide bulky goods complex the Gepps Cross Centre.

Axiom Properties sold the asset, and will use funds to settle debt.
]]> Mr Harvey already owns a half share in one part of the Gepps Cross Centre, according to the AFR which reported the transaction.

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