Savills News

Converted church answers financial firms’ prayers

Piteo Accounting & Advisory and Marinis Financial Group are co-locating and have signed a seven-year lease for space in a restored Norwood church.

Well-established financial services firms, Piteo Accounting & Advisory and Marinis Financial Group, are co-locating and have signed a seven-year lease for space in a restored Norwood church.

The commitment demonstrates a growing trend of strong demand for unique tenancies in Adelaide’s city-fringe precincts.

Zandra McGee and Adam Hartley of Savills Office Leasing negotiated the deal for 49 Beulah Road at a rate of circa $420 per square metre on behalf of Mountain Meadow.

Ms McGee said the heritage features of the property were the ultimate drawcard for the tenant.

“The space is truly unique, being an exquisitely restored church that has been converted into a commercial office building,” she said.

“There were many disappointed parties who enquired on this rare find, and this type of competition enabled us to negotiate above the average market rate.”

The 505sq m building features exposed beams, glass-encased floating stairs and modern amenity, including extensive data cabling.

“There are 14 staff car parks at the rear and a further four client parks at the front of the building, which was another huge selling point,” Ms McGee said.

Advertising firm Blackbocks, which was the previous tenant, is making the move into the Adelaide CBD.

Recommended articles