A landmark 11-level office tower located at 63 Pirie Street, in the heart of Adelaide's business precinct, is being brought to market. Colliers agents Jordan Schmidt and Alistair Mackie, in conjunction with CBRE's Ian Thomas and Alistair Laycock, are marketing the high-profile office asset.
The building offers 11,329 sqm of net lettable area with 34 basement carparks. It is currently 86% leased with circa 4-year WALE to a diverse mix of high-calibre tenants, including Lockheed Martin, Macquarie Bank, Cowell Clarke, Bentleys and Tank Stream Labs.
Jordan Schmidt, Head of Investment Services for South Australia, said, "63 Pirie Street is situated in a commanding corner in what is arguably Adelaide's most premier office precinct. The area is currently undergoing a transformation, with Pirie Street reclaiming its status as a prime business location and epicentre of the Adelaide CBD."
Occupying a commanding 1,823 sqm corner site within a Capital City zoning presents various opportunities for future development with no prescribed height limit (STCA).
Alistair Mackie, Colliers National Director of Capital Markets & Investment Services, added, "The South Australian economy continues to strengthen, with more than two decades of uninterrupted growth and $100 billion of major developments underway. This investment and growth across multiple sectors underpin the strong demand for high-quality office space.”
Since 2017, the building has undergone extensive multimillion-dollar refurbishments to improve its energy performance, environment, and tenant facilities. These upgrades include comprehensive refurbishments to the air conditioning system, ensuring year-round comfort, and modern end-of-trip facilities with secure basement bike parking.
"The building services, foyer, bathrooms, and end-of-trip facilities have all been upgraded to ensure the property competes strongly in its class," commented CBRE's Ian Thomas. "With zero stamp duty in South Australia, 63 Pirie Street is a once-in-a-lifetime opportunity in a prime Adelaide CBD location, particularly suited for investors and syndicators."
100% freehold interest in 63 Pirie Street, Adelaide, is being offered for sale via expressions of interest, closing Wednesday, 19 March 2025, at 2 pm (ACDT).
