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 (

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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