Interests associated with the Cohen family, founders of vacuum cleaner chain, Godfreys, have pocketed $27.64 million from the sale ofRead more
Singapore’s listed Straits Trading Company Limited has announced a joint venture partnership with Commercial & General to manage a portfolioRead more
A North Adelaide property said to have once been the family home of Rupert Murdoch (pictured, left) has hit theRead more
Perth-based Ascot Capital has sold a poultry plant in South Australia and an office building in the Australian Capital TerritoryRead more
LEND Lease has been unveiled the preferred “proponent for construction work” for the Adelaide Oval redevelopment.
The Adelaide Oval Stadium Management Authority with the Department of Transport, Energy and Infrastructure selected Lend Lease and its subsidiary, Baulderstone to design and construct a new stadium with a 50,000 person capacity (image of proposal, right).
A copy of Lend Lease’s announcement is below:Read more
ADELAIDE’s IKEA store is for sale, with a price tag of some $50 million.
The store at 397 Sir Donald Bradman Drive at the Adelaide Airport is being offloaded by direct property fund LEX Retail Property Trust. Unit holders agreed to sell the asset at a meeting last October.
The asset includes 24,500 square metres of area over two levels. The complex was built in 2006 and also includes a cafeteria, office, warehouse, loading dock and car park.
Colliers International’s director of investment services Alistair Mackie is marketing the property, which is on a prime corner adjacent to Adelaide’s principal entry – a developing commercial, retail and industrial hub.
DEFENCE Housing Australia has spent more than $150 million on some 500 houses in Adelaide’s northern suburbs.
The properties have been acquired since 2008 and are concentrated in housing developments near Edinburgh including Playford Alive, Blakes Crossing and around Gawler (train station pictured, right).
DHA has purchased an entire street in the Playford Alive development at Munno Para West.Read more
PASTA manufacturer San Remo has paid just over $8 million for an industrial property in Dry Creek, in Adelaide’s north.
The deal is Adelaide’s largest industrial transaction for three years. The site was sold by pipe manufacturer Rocla.
It’s reported San Remo will redevelop the 5.8 hectare site after Rocla vacates after a short-term lease back.Read more
ADELAIDE’S Development Assessment Commission is reviewing an $80 million, 27-level office and hotel development in the Adelaide CBD. The towerRead more
TWO years after shutting its doors as a movie house, the historic Glenelg Cinema is set to be demolished and replaced as a small shopping complex.
The 1937 building at 119 Jetty Road (pictured, right) was the subject of an online petition by the Adelaide Chapter of the Art Deco and Modernism Society.
Small cinema crusaders, architecture groups and locals were hoping prominent developer owner Andrew Taplin could strike a deal with Wallis Cinemas for a joint venture, which would have seen the cinema renovated into a seven-screen complex. Its facade would have been retained.Read more
A TINY development site being marketed as “Adelaide’s smallest block” has hit the market, and is expected to sell for between $230,000 and $250,000.
The 90 square metre city block at 10 Hamilton Place (pictured, right) is the smallest for sale on Adelaide’s real estate market, at present, according to the selling agent.
At Hamilton Place, between Whitmore Square and South Terrace, the block could accommodate a multi-level home that would be larger than apartments being offered in the city, which average between $400,000 to $500,000 and measure less than 100 square metres.Read more
SOUTH Australia’s Masonic Homes is continuing its push into residential development, announcing a plan to spend $6 million adding moreRead more
SOUTH Australia’s Cockatoo Ridge Winery has sold for $3 million. The 12.8 hectare winery is in Riverland, reportedly Australia’s largestRead more
LAND Management Corporation, controlled by the South Australian government, has released for sale a 200 hectare site at Blakeview, in Adelaide’s north.
Minister Patrick Conlon said the land release will help meet continued demand for allotments. It’s expected to be redeveloped into 3000 homes.
Below is a copy of the government’s press release, regarding the land sale.Read more
INTERESTS associated with retail mogul Gerry Harvey will pay $31.8 million for a half stake in an Adelaide bulky goods complex the Gepps Cross Centre.
Axiom Properties sold the asset, and will use funds to settle debt.Read more
QUEENSLAND based builder Watpac has won a $1.4 million contract to develop South Australia’s Piazza della Valle in the McLaren Vale precinct.
The builder released a statement about the development, copied below.
It involves rebuilding an old car park into a community space.
TWO South Australian shopping centres have sold for a total of just over $41 million.
The Avenues Shopping Centre in St Peters, north east of the city, sold for $23 million reflecting a yield of 7.4 per cent.
A second, smaller shopping centre – the Northgate Village Shopping Centre north east of the city, sold for $18.7 million on a yield of 7.2 per cent.Read more
SOUTH Australia’s government is calling for concept plans to redevelop the Adelaide Convention Centre.
The government is looking for architectural, engineering and project management organisations to enliven the Riverbank precinct, the Festival Centre, Sky City Casino, the Intercontintal Hotel and Adelaide Oval.
The development consortium will build a 4200 square metre multi-purpose space, and replace an original building with a facility seating up to 3000.Read more
ADELAIDE’s prominent 1 King William Street office has sold for $38.64 million.
A release by the selling agents, Colliers International and 333 Real Estate, is copied below, with some details.
The property sold on a yield of 9.5 per cent, based on the $3.685 million net passing income.Read more
A NEW $200 million office building will be developed in Adelaide, after the Australian Taxation Office agreed to be anchor tenant.
The ATO, which also recently anchor tenanted a Melbourne building some say it didn’t need, will occupy 30,000 square metres of a building at Franklin Street, being developed by Western Australian based Aspen Group.
Aspen’s Tower 8 project will be bound by Waymouth, King William Flinders and Bentham streets, according to Adelaide Now, which announced the deal yesterday.Read more
AUSTRALAND has made about $1.35 million from the sale of a 1.55 hectare vacant industrial site in Adelaide. The 21Read more
ADELAIDE’s Chinatown precinct is set for a $150 million residential and commercial project.
A joint venture between listed solar energy firm Advanced Energy Systems and Chinese property group Tangcheng Group is proposing a six-storey, 300-unit apartment project for the 171 – 207 Gouger Street site.
The majority shareholder in AES is billionaire Chenghui Xu, the AFR reports.Read more
DEVELOPER Lang Walker has been given the green light to build a $2 billion residential village in Adelaide’s north.
The South Australian government approved the first stage of the project, which will provide 614 houses and a town centre.
The Buckland Park project will spread over 1340 hectares, and offer 12,000 housing lots over the next 26 years.
LOGISTICS giant Toll NQX has leased a 20,000 industrial property at billionaire property developer Lang Walker’s Vicinity Industrial Estate, in Adelaide.
Vicinity is near the mouth of Adelaide’s $560 million Northern Expressway (http://www.northernexpressway.sa.gov.au/).
Mr Walker told the AFR Toll’s lease vindicates his decision to focus on developing industrial estates on key transport routes and where the government is investing.
ADELAIDE’s Chelsea Cinema will be sold.
Despite a public campaign to rescue the 85-cyear old cinema, Adelaide Now has reported the Burnside Council is seeking expressions of interest, which would see the 1810 square metre State Heritate listed cinema site sold.
An adjoining 725 square metre block at 39 May terrace is also available as part of the EOI campaign, set to close on February 26.Read more
EXCLUSIVE figures released to The Advertiser last week, shows Adelaide’s metropolitan median rose 6.25 per cent to $382,500 in the December 2009 quarter, compared to the same period in 2008.
State wide, medians increased 5.77 per cent to $352,000.
Somerton Park, just south of Glenelg South, reported the strongest median value growth – up 35.64 per cent since last year. It was followed by Broadview (28.42 per cent) and Willastown (22.37 per cent).Read more
AGED care accommodation provider Southern Cross Care has paid more than $8 million for a landmark Adelaide property controlled by the Catholic Church for more than a hundred years.
The former Carmelite Monastery at Myrtle Bank includes a 24,000 square metre residential zoned site at the corner of Glen Osmond and Cross roads, in Adelaide’s ritzy east.
Southern Cross, which is developing a luxury apartment complex across the road from Carmelite, will settle on its purchase just before Christmas.Read more
THE Property Council of Australia today unveiled its “Adelaide in 2036” planning proposal.
The report proposes a city-wide masterplan to promote city living.
PCA executive director Nathan Paine said in his recommendations a taller hospital, on a smaller site, would allow the city to utilise its riverbank with taller buildings, much like Brisbane or Melbourne.Read more
AMP Capital Investors and the Meridien Group can expect to make between $100 million and $150 million from the sale of 12 South Australian retirement villages.
The portfolio includes 946 retirement village units, and 246 serviced apartments. The joint venture owners confirmed it will accept off-market offers on the assets as a whole, or individually.
The joint venture owners will retain villages in New South Wales and Queensland.Read more
The Holiday Inn Adelaide, has sold to Malaysian-based Hotel Grand Central, for about $35 million.
The 19-year old, 4-star hotel, includes 181 rooms, 90 car park spaces and conference facilities. It was offloaded by Singapore-controlled hotel company Tambusu.Read more
BECTON Office Fund has reaped $13.75 million for Adelaide CBD’s “Blackburn House”.
A private investor has purchased the 199 Grenfell Street office on a yield of 9.35 per cent. The 18-year old 5,060 square metre office has three street frontages, and is anchored by the Department of Veteran Affairs.Read more
ADELAIDE retailer Truscott Casual Living went into receivership on Saturday with debts of about $5 million.
Truscott closed four stories ahead of the receivership, but 10 stores still exist, including in the Adelaide CBD, Croydon, Mt Barker and Port Lincoln.
Ernst & Young has been appointed as receiver.Read more
RETIREMENT village operator Masonic Homes has paid $10 million an aged care facility in Adelaide. The Hillsview Village complex, inRead more
The ABCC has issued a new proceeding in the Federal Magistrates Court in Adelaide.
The ABCC alleges that the CFMEU and Mr Justin Feehan engaged in two instances of unlawful industrial action at a construction site at Flinders University, South Australia, in May 2008.
A first directions hearing has been scheduled for 30 June 2009.
NETWORK SEVEN chairman Kerry Stokes has paid about $5 million for a 660 hectare farm, adjoining his own, on the Fleurieu Peninsula, south of Adelaide.
Mt Scrub was offloaded by the Lush family, and includes 40 hectares of heritage protected native bushland, several kilometres of creeks and views over the Southern Ocean.Read more
Kingsford, the South Australian farm used in Channel Nine’s McLeod’s Daughters, has sold to a local for $1.5 million. The network put the property on the market after announcing it had axed the Australian drama after seven years.Read more
Stockland today announced the $87.5 million sale of its Stockland Parabanks shopping centre, as it looks at re-investment opportunities in key strategic growth areas.Read more
Diversified property group Devine Limited (ASX: DVN) has today announced the strategic acquisition of a prime 30 hectare land parcel in Meadows, 40 minutes
drive south of the Adelaide CBD.
The rental market has tightened in Adelaide with the residential vacancy rate dropping below 1% in the month of December, according to the Real Estate Institute of SA (REISA).Read more
Real estate in Adelaide has soared to new heights with the median house price for the December quarter reaching $350,000, the Real Estate Institute of SA (REISA) said.
REISA President Robin Turner said this was a jump of 7.7% in just three months and 18.6% over the past year.
Regional South Australia is proving a lucrative investment with house prices soaring in many areas over the December quarter, according to the Real Estate Institute of SA (REISA).
REISA President Robin Turner said the median house price for SA had broken through the $300,000 mark for the first time in December and prices in regional areas had played a big part.
As the rental market prepares for its busiest period of the year, Adelaide’s vacancy rate eased slightly to 1.63% for the month of November, according to the Real Estate Institute of SA (REISA).Read more
Jingle bells are ringing for South Australian homeowners after the Reserve Bank of Australia decided not to raise interest rates at its December meeting, the Real Estate Institute of SA (REISA) said.Read more
DB RREEF, on behalf of its direct property mandate with AXA Wholesale Australia Property Fund (WAPF), today announced it had entered into the South Australian retail market with the acquisition of a property in Modbury for $18.5 million.Read more
The rental market in Adelaide has tightened again with the vacancy rate dropping to 1.06% for the month of October, according to the Real Estate Institute of SA (REISA).
This is down from 1.49% during the month of September and reflects what agents have been seeing in the marketplace.Read more