22-24 Gilbert Street, Adelaide, SA 5000 | Commercial for sale | OnTheHouse
FOR SALE
$3,975,000

22-24 Gilbert Street
Adelaide SA 5000

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 756m2
Land area: 760m2
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PRIME DEVELOPMENT ALLOTMENT IN ADELAIDE'S SOUTH END : CORNER SITE OF 760 M2* IMPRESSIVE HOLDING INCOME - UP TO 53M HEIGHT DEVELOPMENT (STCC)

Raine & Horne Commercial SA are proud to offer for sale this exceptional potential development site in Adelaide's CBD location.
Located meters from the GPO, law Courts, Central Market and a short walk or tram ride to Adelaide's premier shopping precinct, Rundle Mall and Adelaide Oval.
The property comprises prominent corner allotment of approximately 760 m2 with a frontage to Gilbert Street of 24.69 m and a frontage to Tapley Street 0f 30.78 m.
Currently leased to Prohibition Liquor Co Pty Ltd for s term of 5 + 5 + 5 years commencing 1st August 2019. The lease has a development clause which can be exercised after July 2026 providing ample opportunity for planning approvals etc whilst collecting good holding income (circa $100,000 pa net).
Zoning: Capital City Zone allowing up to 53m height development (subject to usual consents)
*All areas/dimensions approximate
RLA 283100

Property Details for 22-24 Gilbert St, Adelaide

Building Type
Commercial
Floor Size
756m2
Land Size
760m2
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About Adelaide 5000

The size of Adelaide is approximately 10.2 square kilometres. It has 42 parks covering nearly 50.5% of total area. The population of Adelaide in 2016 was 15115 people. By 2021 the population was 18202 showing a population growth of 20.4% in the area during that time. The predominant age group in Adelaide is 20-29 years. Households in Adelaide are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Adelaide work in a professional occupation.In 2021, 32.50% of the homes in Adelaide were owner-occupied compared with 32.40% in 2016.

Adelaide has 18,475 properties. Over the last 5 years, Houses in Adelaide have seen a 42.25% increase in median value, while Units have seen a 32.55% increase. As at 31 October 2025:

  • The median value for Houses in Adelaide is $1,165,141 while the median value for Units is $554,358.
  • Houses have a median rent of $630 while Units have a median rent of $615.
There are currently 139 properties listed for sale, and 105 properties listed for rent in Adelaide on OnTheHouse. According to Cotality's data, 1232 properties were sold in the past 12 months in Adelaide.

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David Ente
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The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.