1104/15 Synagogue Place, Adelaide SA 5000
1104/15 Synagogue Place, Adelaide SA 5000
11th floor | north-facing balcony | 2 bed 1 bath | built 2012 | East End CBD
This is a competitively strong unit for the Adelaide CBD market, primarily because of its combination of newer build quality, upper-floor orientation, and genuine amenity. The north-facing aspect on the 11th floor gives it light and outlook that many older city apartments lack, and the balcony adds usable outdoor space that is not always present in this product type. The shared facilities — lounge, kitchen, cinema, and games room — are a step above what most strata blocks offer, which supports both owner-occupier comfort and rental appeal. It sits well for investors, city workers, or parents buying for students at the nearby universities, and the school catchment alignment with Adelaide High and Adelaide Botanic High adds a practical layer of demand that is not always found in CBD stock. The lease in place until late 2026 also provides income certainty for an investor buyer.
What may materially affect value is the absence of a car space, which could narrow the buyer pool compared with apartments that include parking, particularly for owner-occupiers who rely on a vehicle. The single bathroom is also a mild constraint for a two-bedroom layout, though it is not unusual at this size. Strata charges appear substantial in one listing, so holding costs should be weighed carefully against the rental return. The advertised price range and current rent signals suggest a gross yield in the high-six to mid-seven percent range, which is strong for the location, but the final sale price will depend on how the market weighs the lease certainty against the parking and bathroom limitations. The 2012 build means the property is young enough to avoid major maintenance concerns, yet old enough to have established its performance in the market.
|| Comparable Sales: 1204/15 Synagogue Place, similar 2 bed north-facing, rented at $600/week | Property Price Band: $450K–$500K | Value Drivers: north-facing upper floor, lease in place, building amenity and 2012 build quality
Detailed Independent Property Report prepared by PropCred Analyst team for 1104/15 Synagogue Place, Adelaide SA 5000
Checks found:
Value Risk
2
Liquidity Risk
1
Planning Risk
2
Income Risk
Execution Risk
2
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Market Insight
Adelaide’s market is defined by exceptionally tight supply, creating a competitive environment that is driving strong price growth across both houses and units. Demand is underpinned by a diversified local economy and relative affordability compared to eastern capitals, attracting both active buyers and new entrants. This supply-demand imbalance, coupled with improving borrowing conditions, supports sustained upward momentum. However, sharply rising entry prices present a significant constraint for first home buyers, while limited new listings and construction timelines continue to pressure overall market activity.
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PropCred Estimated Value
Comparable Sales: 1204/15 Synagogue Place, similar 2 bed north-facing, rented at $600/week | Property Price Band: $450K–$500K | Value Drivers: north-facing upper floor, lease in place, building amenity and 2012 build quality
Bedrooms
2
Bathroom
1
Parking
-
Land
69m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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