125 Lipson Street, Port Adelaide, SA 5015

Favourably situated in an important Heritage Precinct of Port Adelaide. Circa 1890. Could be converted to two large Residential apartments, subject to Council consent.
Situated on the corner of Lipson and Divett Streets this imposing two storey building, provides in excess of 400 sq meters of office/ residential accommodation.
The Vendor operates a Legal Practice from the ground floor and basement, whilst the entire self-contained top floor is occupied by a residential tenant. The offices are serviced by a full modern kitchen, bathroom and laundry facility. The building occupies the whole of the land thus whilst there is no off street parking, there is ample on street parking.
The Vendor is prepared to lease back for a period of 2 + 2 + 2 years, and provide a three percent per annum, rent increase for the first three years and thereafter CPI increases, with an anticipated starting rent of $45K ex GST plus outgoings.
The property is in the Prestigious Port Adelaide State Heritage Policy area 47, however it is neither a Local Heritage nor State Heritage place.
The Port Adelaide Waterfront Precinct is considered to have unrivalled development potential.
Close to the Waterfront Precinct this Property is likely to benefit from the State Government’s current seeking of Proposals for the Development of approx. 4.2 km’s of Waterfront Promenade and 40 hectares of Prime Land across Port Adelaide.
Opportunity Knocks!