Acquisition of 25 Grenfell Street, Adelaide
Grenfell Street frontage
Realmont Property Partners is pleased to announce the acquisition of the Grenfell Centre, 25 Grenfell Street, Adelaide for $134.2 million on behalf of a separate account capital partner.
25 Grenfell Street is a prominent Grade A office multi-tenanted freehold building within the core of Adelaide’s CBD. The office tower provides 23 levels of accommodation, expansive ground floor lobby and strong retail presence at both ground and lower ground. The asset enjoys a WALE of approximately 5.0 years with key tenants including the Government of South Australia, Minter Ellison, Lipman Karas and Jones Lang Lasalle.
The Property is located on the southern side of Grenfell Street, east of King William Street and directly opposite the City Cross Arcade which links directly to Rundle Mall, the longest and one of the busiest malls in Australia. The historic Stock Exchange building to the rear of the Property has long been regarded as the centre of the Adelaide core business precinct, surrounded by office towers and close to the Adelaide Town Hall and General Post Office.