The property includes an existing local shopping centre and income of approximately $235,000 gross.
News release
19 February 2024
Modbury local shopping centre with expansion potential
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JLL South Australia has been appointed to sell a local shopping centre and three residential houses at 861-871 North East Road, Modbury.
The property features a generous 4181 sqm site that includes an existing local shopping centre and three residential houses generating income of approximately $235,000 gross.
JLL’s Jack O’Leary and Claudia Brace have been appointed to sell the property in the heart of Modbury.
JLL Director Capital Markets - SA Jack O’Leary said the retail site offered excellent frontage and exposure to a main arterial road and excellent connectivity.
“The strong cash flow allows for a set and forget type investment or strong holding income while future development plans are undertaken,” he said.
Mr O’Leary said the property has planning consent for a three-storey mixed-use development.
"With its prime location and future redevelopment potential 861-871 North East Road, Modbury will appeal to investors and developers in this thriving location,” he said.
861-871 North East Road Modbury is offered for sale by Expression of Interest closing 4pm (ACST) on Thursday 21 March 2024.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.