H&B offers by 6/11/25 by 5pm (Range: $1.2-$1.3M)

Jason Malseed is pleased to introduce one of Mount Gambier's most iconic and recognisable commercial properties – 3 Penola Road, situated prominently along the Riddoch Highway.

Originally constructed in 1958 by S.J. Weir in collaboration with Adelaide architects for the Executor Trustee, this remarkable building still showcases its spectacular original façade - a striking example of mid-century commercial design. Today, it proudly houses a highly successful property and legal services business, established for approximately 50 years and operating across 12 offices.

Set on a substantial allotment in the heart of Mount Gambier, the property enjoys excellent exposure to passing traffic and offers convenient off-street parking for staff and clients. Its prime location places it within easy walking distance to the city's business, retail, and professional precincts, making it an exceptional commercial opportunity.

With an asking price of $1.2 – $1.3 million, this blue-chip investment provides a rental income of approximately $80,000 + GST + outgoings, with annual 2.5% rent increases and rights of renewal in place.

Over $180,000 has been invested in upgrades to enhance presentation, functionality, and sustainability. A major $100,000–$120,000 refurbishment modernised the reception and front office areas, creating a contemporary and welcoming space. Upstairs features a brand-new $10,000 kitchen, new carpeting throughout both levels, and reconfiguration into private offices and a library at a cost of $25,000–$30,000, providing versatile workspaces for professional use.

Comfort is ensured year-round with four new reverse cycle air conditioners valued at over $10,000, while accessibility has been improved with a new roof access ladder ($6,600). Sustainability has also been prioritised through the installation of 40 solar panels ($20,000), offering environmental benefits and energy efficiency.

Currently tenanted to South Australia's largest conveyancing firm, generating approximately $79,900 + GST per annum, the iconic Executor Trustee Building represents a secure, low-risk, and high-quality investment. Its combination of classic architecture, modern upgrades, and a strong rental yield make it one of Mount Gambier's most outstanding commercial opportunities.

Particulars:
CT: Volume - 5760 / Folio - 35
Land Size: approximately 383 sqm
Zoning: Urban Activity Centre - UAC
Council: City of Mount Gambier

For an Information Memorandum, contact Jason Malseed at [email protected] or call 0419 032 795.

Disclaimer – The information contained here is gathered from a source that we believe to be reliable. However, we cannot guarantee the accuracy of this information and do not accept any responsibility for its accuracy. All interested parties should rely on their own independent searches and Legal advice.
RLA 115603