A-grade Adelaide CBD office investment overlooking Hindmarsh Square and anchored by Nine Network Australia up for sale

Adelaide, Australia – An A-grade office building with a protected outlook over Hindmarsh Square in the heart of Adelaide's CBD and anchored by Nine Network Australia on a new 10-year net lease has been listed for sale.

The property at 169 Pirie Street occupies a prominent 2,867sqm freehold corner site on the southeastern edge of Hindmarsh Square and comprises 7,923sq m of net lettable area across five office levels, ground floor tenancies and 80 secure on-site car parks with dual access.

Refurbished in 2015 and 2025, the asset features large 1,460sqm floorplates with natural light from all four sides and a protected outlook over the parkland of Hindmarsh Square, new end-of-trip facilities, upgraded bathrooms and a refurbished lobby.

At one bay per 99sq m of NLA, the parking ratio is among the most generous in the Adelaide CBD.

The building is 96.6% leased and generates a net passing income of approximately $3.95 million per annum, with a weighted average lease expiry (WALE) of 5.1 years by income.

Anchor tenant Nine Network Australia has recently renewed its commitment to the building with a new 10-year net lease through to June 2036, incorporating fixed 3% annual reviews. The renewal is supported by Nine's significant investment in fitout and embedded broadcast infrastructure, underscoring the tenant's longterm commitment to the site.

Nine is complemented by a strong line-up of established tenants including SA Government-owned lender HomeStart Finance, HAMBS Systems, Nova Systems, Laser Vision SA and Bentleys, providing a high-quality, diverse tenant profile across government, media, health technology, defence and professional services sectors.

169 Pirie Street enjoys a connected CBD location within walking distance of Rundle Mall, Adelaide Railway Station, tram services and the East End hospitality precinct.
The property is being offered for sale via an International Expressions of Interest campaign managed by Knight Frank's Max Frohlich and Ryan Mills, in conjunction with CBRE's Ian Thomas and Alistair Laycock on behalf of Curated Capital and Realside Property.

Mr Frohlich said 169 Pirie Street represented one of Adelaide's most compelling office investment opportunities currently available.

"Opportunities to acquire a fully refurbished A-grade office asset of this scale and quality in Adelaide's tightly held CBD are rare, and we expect strong investor interest," he said.

"With a newly secured 10-year net lease to Nine Network Australia,taking the tenant’s occupancy through to 2036, underpinning the income profile, investors are acquiring a highly defensive asset with long-term cashflow certainty and significant covenant strength. Nine's decision to renew for a further decade, backed by its investment in broadcast infrastructure on site, is a clear vote of confidence in the building.

"The building also benefits from embedded rental growth, with office rents currently passing below assessed market levels and more than 75% of income subject to fixed annual increases averaging 3.22%, providing a secure and growing income stream."

Mr Thomas said the property's secure income, long-term underlying value and strong leasing fundamentals would appeal to a broad range of institutional and private investors.

"Adelaide's office market continues to strengthen, supported by limited future supply and growing demand from sectors including defence, technology, government and resources," he said.

"Situated on Pirie Street's office strip with protected views across Hindmarsh Square, 169 Pirie Street combines exceptional accessibility, one of the CBD's most generous on-site parking provisions,modern amenity upgrades with future rental reversion opportunities.

"Investors are also acquiring a large 2,867sqm freehold corner landholding on Hindmarsh Square, which provides long-term value underpinned by the land itself. The combination of secure income, strong tenant retention, quality refurbishment and exposure to Adelaide's improving office fundamentals positions this asset well in the current investment market."

The International Expressions of Interest campaign for 169 Pirie Street, Adelaide, closes at 3pm (ACDT) on Tuesday, 17 November 2026.

-Ends-
For further information, please contact:
Vanessa De Groot – Marketing & Communications, Knight Frank
Vanessa.degroot@au.knightfrank.com +61 410 460211

Notes to Editors
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, the Knight Frank network has 600+ offices across more than 50 territories and more than 20,000 people. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants. For further information about the Firm, please visit www.knightfrank.com.