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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