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.

Chief executive Michael Bendyk told The Australian the not-for-profit organisation planned to build high quality accommodation on the site.