2 Portrush Road, Payneham, SA 5070 | Commercial for sale | OnTheHouse
 
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2 Portrush Road
Payneham SA 5070

Bedrooms: -
Bathrooms: -
Car spaces: -
Floor area: 3954m2
Land area: 7259m2
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Dominant Land Holding with Income

RWC Adelaide are proud to present to market 2 Portrush Road, Payneham.
Ideally located in the heart of Adelaide's eastern suburbs, 2 Portrush Road offers a once in a generation opportunity to acquire a dominant land holding with strong existing cash flow. The property is set on some 7,259sqm and is currently configured with 3,954sqm of improvements across a range of tenants. It is easy to see why Wellington Centre has always been a popular home for eastern suburbs business thanks to the fantastic location and 154 on site car parks.
For groups looking to the future development potential of the site the property benefits from the highly flexible Housing Diversity Neighbourhood zoning in the city of Norwood Payneham & St Peters. With frontages to Portrush Road, Payneham Road as well as Henry Street there is a wide range of future outcomes which could be achieved on site (STCC).
RWC Adelaide highlight the below key investment features:
• Significant inner eastern land holding of 7,259sqm*
• Estimated net passing income of $802,103 p/a with room for growth
• Gross lettable area of 3,954sqm*
• Strong tenant demand with central location and 154 on site car parks
• Zoned Housing Diversity Neighbourhood in the City of Norwood, Payneham & St Peters
• Diverse tenant profile today including Fresenius Medical Centre
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Property Details for 2 Portrush Rd, Payneham

Building Type
Commercial
Floor Size
3954m2
Land Size
7259m2
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About Payneham 5070

The size of Payneham is approximately 0.8 square kilometres. It has 3 parks covering nearly 6.3% of total area. The population of Payneham in 2016 was 2293 people. By 2021 the population was 2438 showing a population growth of 6.3% in the area during that time. The predominant age group in Payneham is 30-39 years. Households in Payneham are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Payneham work in a professional occupation.In 2021, 53.60% of the homes in Payneham were owner-occupied compared with 53.30% in 2016.

Payneham has 1,314 properties. Over the last 5 years, Houses in Payneham have seen a 92.63% increase in median value, while Units have seen a 97.12% increase. As at 30 April 2026:

  • The median value for Houses in Payneham is $1,390,498 while the median value for Units is $712,540.
  • Houses have a median rent of $670 while Units have a median rent of $530.
There are currently 5 properties listed for sale, and 3 properties listed for rent in Payneham on OnTheHouse. According to Cotality's data, 71 properties were sold in the past 12 months in Payneham.

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Harry Einarson
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Oliver Totani
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RWC Adelaide
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