Palms Serviced Apartments Listed for Sale

by

Palms Serviced Apartments Listed for Sale
Image Supplied - CBRE

City fringe 4-star serviced apartment building The Palms has been listed for sale for the first time, offering an attractive freehold investment opportunity in Adelaide.

The Kent Town property at 62 King William Street is a modern four-level building on a 1243sqm site area.

The freestanding complex includes 42 one and two bedroom, spacious and self-contained apartments.

Since opening in 2017, the current owner has leased the asset to experienced family-owned serviced apartment operator Dress Circle Apartments, who manage high-quality apartment developments throughout Adelaide.

The facilities include ground floor reception, spacious apartments, retail and café tenancy, 21 secure car parks and utility rooms on each floor.

CBRE’s Hotels Senior Director, Scott Callow has been appointed to manage the sale, with Expressions of Interested invited before August 25th.

“Kent Town is experiencing significant rejuvenation with a number of new developments, both residential and commercial, as well as the refurbishment of existing properties” Mr Callow said.

“The Palms Service Apartments has potential for investors to add additional apartments on the rooftop or to sell down the individual leased apartments subject to the relevant council approvals.”

Find more CBRE listings HERE

Find more accommodation for sale HERE

Find the latest industry news HERE


Family Owned Mid North Coast Waterfront 84 Site Caravan Park - 1P6280CP
Freehold Going Concern NSW New England Fuel Depot Located Near the Heart of  Town - 1P6283
Motel in an absolute prime land/location. Freehold and Business.
Northern Gold Coast Resort - ID 8047
A thriving business opportunity with consistent performance and growth potential | Resort Brokers ID : FH008564
RARE COASTAL LEASEHOLD MOTEL IN BOOMING HERVEY BAY
Freehold Caravan Park For Sale
Prime Beachfront Business with Huge Upside!
A Rare Investment Opportunity with Exclusive Zoning & Breathtaking Ocean Views! | Resort Brokers ID : MR008560
17 acres of Freehold Beachfront Caravan Park - 35 mins from Launceston | Resort Brokers ID : FH008562
Profitable Motel Investment Opportunity in Melbourne, Victoria!
Business Only, Nearly New Complex, Permanent MLR in Brisbane Southside
Leasehold Waterfront Motel Brand New Setup 5 Rooms Fully Licensed Restaurant and Gym
Acquire Popular MR Business - Long agreements with manageable duties | Resort Brokers ID : MRB008554
Premier High Net Holiday Business in supercharged Byron Bay market! | Resort Brokers ID : MR008547
Sought after Surfers Paradise MR offering balanced lifestyle and solid income | Resort Brokers ID : MR008415
Huge Income and Rare Opportunity - Student Accommodation MR Business in Brisbane
Section with Million Dollar Views