12-20 Cromwell Street, Adelaide, SA 5000

  • 43


Auctioned for $1,067,000 (Nov 07, 2018)


This is the sale of three strata units currently operating as a three storey privately owned car park. Located in Cromwell Street just off Pulteney Street and close to South Terrace in the city. The sale is of three strata units made up as follows:

a) Strata Unit 9 – consisting of 18 individual first floor car parks leased to two separate commercial operations for the use of their staff and situated close to the Cromwell Street.

b) Strata Unit 13 – consisting of ten Individual ground floor car parks fully leased to four separate tenants located close to Cromwell Street.

c) Strata Unit 14 – consisting of 15 Individual ground floor car parks plus four storerooms created on what were originally designed as individual car parks. The storerooms are all leased, and the rent is the same as a car park. Of the 15 car parks, two are vacant at the time this profile was prepared.

All cars and storerooms have monthly leases and are either at capacity or close to capacity. The park is fully secured and access is via an individual key pad number with cars parked at the tenant’s risk. The building was originally built in 1992 and is considered a modern functional car park providing a service that is in significant demand within the local business community.

***Note: The car parks are exempt from Stamp Duty as they fall under Land Use Code 6530.

Chris Weston 0419 816 302

Simon Winter 0419 828 689

Property Info:
  • Property ID: 19895271
  • Property Type: Other
  • Garages: 43
We Know Your Area
R&H Suburb Profile: Adelaide

R&H Suburb Summary Houses
Number of sales 65
Average Price $676,229
Median Price $610,000
Median Rental Price $450 p.w.
Change in Rental Rate (5yr) 3 %
R&H Suburb Summary Units
Number of sales 489
Average Price $492,634
Median Price $435,000
Median Rental Price $460 p.w.
Change in Rental Rate (5yr) 10 %
Adelaide, SA - Median Trend