The property is located adjacent a Woolworths Shopping Centre with 16 specialty shops and enjoys 3 street frontages to Main South Road, High and William Streets. The Bank has occupied this particular property for decades.
The concrete tilt up building was constructed in 1990 by the Bank and has a Net lettable area of 375m2.
There is a new lease to St George Bank Ltd (trading as BankSA) on a 5 year term commencing 23rd October 2008.
There is a right of renewal for a further term of 5 years.
The commencing net rent is $87,000 per annum.
Rent Reviews are fixed annually at 3.5%.
St George Bank Ltd pays all outgoings including land tax as this is a publicly listed company.
