75 Hindmarsh Square, Adelaide
75 Hindmarsh Square
Building Type / Sector: Office
Aquisition Date: October 2020
Purchase Price: $40.5 million
Investor Return: 6.3%
Harmony Property Investments (HPI), exclusive to MRS Property, are pleased to announce the recent acquisition of 75 Hindmarsh Square, Adelaide.
The property was purchased in an off-market transaction in October 2020, subsequent to a previous Expressions of Interest campaign. The sale was brokered by Ian Thomas of CBRE for $40.5 million, at a yield of 6.3%.
75 Hindmarsh Square is a modern 6 level office building in a prime core location overlooking Hindmarsh Square in the Adelaide CBD, and is over 96% leased to four tenants, with a WALE of 3.8 years
The building was constructed in 1990 and has since undergone refurbishment, with basement carparking for 74 vehicles over three levels.
This transaction represents HPI’s largest single property investment purchase, taking total Funds Under Management to over $650 million with 36 properties across 5 states.
HPI have seen exceptional support from investors during a difficult economic period and will continue to search for high quality investment opportunities providing our investors with strong and consistent returns.