One of Adelaide’s most iconic and high profile assets has hit the market, presenting buyers with an opportunity to secure a piece of South Australia’s history and future.

Savills Australia’s Peter Isaksson and Rino Carpinelli have been appointed to sell the property at 41 Rundle Mall and are expecting local and offshore interest with offers to be around $10 million.

The six-storey building is in one of Australia’s most successful pedestrian retail malls, directly opposite the new H&M store and the Myer Centre.

“This landmark trophy asset is in a dominant position in Australia’s top performing retail malls, surrounded by city-defining developments with rear access of Featherstone Place,” Mr Isaksson said.

The 1,560sq m property is being offered with vacant possession and Mr Isaksson said the property holds sturdy investment characteristics.

“Buyers are presented with an opportunity to secure an intergenerational flagship asset in Australia’s best performing pedestrian malls,” he said.

“In today’s tightly held market, a Rundle Mall asset will rarely become available and for the past ten years there have been very few assets traded.”

The property enjoys excellent accessibility to Adelaide’s public transport services with bus, train and tram services all within easy walking distance.

Rundle Mall has become one of most successful shopping strips with more than 400,000 visitors per week with many global brands establishing a strong retail drive.

“Ongoing population growth, particularly within the Adelaide CBD is expected to see a rise in consumer patronage, particularly within the Rundle Mall precinct given its diverse mix of global brands, convenience and food and beverage stores,” Mr Isaksson said.

International expressions of interest close Thursday 6 December 2018.

Learn more about Savills Retail Investments.