172 Payneham Road, Evandale, SA 5069

Raine & Horne Commercial are pleased to present an exceptional investment opportunity with this historic landmark property; a beautifully preserved character church converted into a vibrant retail space. Situated on approximately 702 sqm of land with around 405 sqm of building area, this unique property offers both charm and commercial appeal. The property features two reliable income streams: the Adelaide Bridal Emporium leasing the main building until January 2029, and a long-term lease with Vodafone for the tower atop the property extending to 2040.

• Historic landmark with character-rich architecture, ideal for retail or hospitality usage

• Approx. 702 sqm land parcel with 405 sqm of versatile building space

• Dual income streams: Adelaide Bridal Emporium (until Jan 2029) and Vodafone (until 2040)

• Total net income of $113,667, with upcoming rent reviews in June 2025 and July 2025

• Prime location with significant historical and commercial appeal for future growth

• Carpark at rear

For Sale by Expression of Interest closing Wednesday 4th June 2025 at 4pm unless sold prior.

If you would like further information or to view the property, please contact the agents to arrange an inspection.

Michael Kourbelis 0452 239 633

Simon Winter 0419 828 689

RLA 283100