Lend Lease Wins Contract to Redevelop Adelaide Oval

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:

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IKEA Adelaide Airport For Sale, Expected to Fetch $50 Million

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.

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Defence Housing Australia Spends $150 Million Amassing Adelaide Streets

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.

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San Remo Pasta Pays $8 Million For Adelaide Industrial Property

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.

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Historic Glenelg Cinema to be Demolished

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.

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Adelaide’s Smallest Block Hits The Market

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.

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South Australia’s Land Management Corp to Sell 200 Hectare Development Site

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.

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Makris Group Sells Two SA Shopping Centres For $41 Million

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.

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SA Government Seeks JV Partner to Redevelop Adelaide’s Convention Centre Precinct

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.

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ATO to Anchor Massive Adelaide CBD Office Building

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.

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$150 Million Proposal for Adelaide’s Chinatown

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.

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SA Government Gives Lang Walker Green Light to Develop Buckland Park Project, Adelaide

DEVELOPER Lang Walker has been given the green light to build a $2 billion residential village in Adelaide’s north.Lang Walker

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.

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Toll NQX Leases 20,000 Square Metre Industrial Facility, Adelaide

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.


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Adelaide’s Chelsea Cinema to be Sold

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.

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Valuer General Info Shows Adelaide Median House Price Surge: 2009

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.Glenelg

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).

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Southern Cross Care Pays More than $8 Million For Adelaide’s Carmelite Monastery Site

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.

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AMP, Meridien to Sell Portfolio of 12 South Australian Retirement Villages For More than $100 Million

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.

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Adelaide house prices soar to new heights

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.

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Prices in Rural SA record strong growth

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.

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Rental market starts to heat up

Adelaide rental market heats upThe 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.

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