South Australia

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.

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.

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.

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.