The Payneham Mausoleum is for sale.
Only serious buyers are encouraged to consider purchasing SA’s only privately-owned mausoleum and one of the largest in the country.
The Payneham Mausoleum, which is on the market without a price guide, will need a fair cash injection to make it profitable.
Selling agent Julie Leuci, of JL Real Estate, said between $5m and $7m would need to be invested into finishing the landmark property’s east and west wings.
While they were built with the Payneham South property at 16 Second Ave back in 2012, Ms Leuci said they remained unfinished.
Both wings have building approval but construction needs to start by May 2027 and be completed a year later.
Payneham Mausoleum at 16 Second Ave, Payneham South.
Payneham Mausoleum at 16 Second Ave, Payneham South.
Under the plans, there would be 1568 crypts and 384 cremation niches in the east and west wings once finished.
“The east and west wings are where investors will generate income once works have been completed,” Ms Leuci said.
“There will be a bit of investment and let’s say a good 12 months worth of work.
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“There is interest, there are people waiting for this development to commence.
“This one is unique because it’s an indoor mausoleum.”
The 2600sqm purpose-built mausoleum is on three titles over five allotments that span 4598sqm, adjacent the Payneham Cemetery.
Ms Leuci said both the free hold property and the business were being sold by the owners, who were selling to focus on other ventures.
Payneham Mausoleum at 16 Second Ave, Payneham South.
Payneham Mausoleum at 16 Second Ave, Payneham South.
The chapel in the centre of the building has 94 crypts remaining for sale, with most of its 678 crypts already occupied, as well as 29 cremation niches.
Ms Leuci said depending on where a crypt was positioned in the mausoleum, the upfront cost ranged between $25,000 and $45,000 and leases lasted up to 99 years with the option of renewing.
“There’s an onsite workshop where all the memorialisation is completed in-house and there is a 150-seat chapel that’s available for hire as well.”
As the property has special purpose zoning, it cannot be cleared to make way for another development.
The property and business are being sold via expressions of interest.
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