Scape pays $2 billion for Urbanest’s Australian student accommodation portfolio
Scape Australia is paying $2 billion for a portfolio of student accommodation units in Sydney, Melbourne, Brisbane and Adelaide. The
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South Australia
Centuria spends $236.2 million on Arnott’s factories in Brisbane and Adelaide
Centuria Industrial REIT (CIP) is paying $236.2 million for two Arnott’s factories, in Brisbane and Adelaide. The sale-and-leaseback agreements come
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ICD Property to build 35-storey tower as part of $400 million Central Market Arcade redevelopment
City of Adelaide has appointed ICD Property as partner for the $400 million Central Market Arcade redevelopment. Council held a
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Centuria buys Edinburgh logistics facility for $19.5 million
Centuria Industrial REIT (CIP) has settled on the $19.5 million purchase of an Adelaide logistics facility. The 6.5 hectare property
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Charter Hall resets leases with Coles for distribution centres in Adelaide, Perth
EXCLUSIVE In a surprise and strategic move, Charter Hall Group and Coles have extended tenancy terms for major distribution centres
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Mair buys Adelaide, Perth investments
Mair Property Funds (MPF) has spent $27.55 million on commercial assets in Adelaide and Perth – its fourth and fifth
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APPF sells Westfield Marion half-stake to Singapore’s SPH REIT for $670 million – the year’s highest priced shopping centre deal
Lendlease-managed Australian Prime Property Fund (APPF) Retail has sold a half share of Adelaide’s Westfield Marion for $670 million –
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Moelis Australia sells Adelaide’s Hollywood Plaza Large Format Retail complex for $12.95 million
Moelis Australia Asset Management has sold a homemaker centre in Adelaide’s north. The Hollywood Plaza Large Format Retail complex is
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Port Lincoln’s historic Boston House for sale after 44 years
The historic Boston House in South Australia’s Port Lincoln has hit the market for the first time in 44 years.
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Chip Eng Seng to bring Hyatt brand back to Adelaide
Developer Chip Eng Seng has won approval to build a 27-storey hotel in the Adelaide CBD – and secured Hyatt
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Adelaide medical centre King Park Health sells for $8.425 million
A fully-leased healthcare investment in Kings Park, in Adelaide’s exclusive inner-south, has sold for $8.425 million. The multi-tenanted Kings Park
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Blackstone sells Adelaide’s Rundle Place, lists Melbourne’s Brimbank Central
Blackstone is understood to be close to selling Adelaide’s Rundle Place shopping centre for close to $250 million. The private
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Adelaide super-site could make way for master-planned community
An inner-Adelaide commercial investment on a site big enough to be on the radar of major developers from Australia’s east-coast,
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Church of Scientology buys Port Adelaide’s former Messenger Press office
The Church of Scientology has acquired the former home of the Messenger Press newspaper, in Port Adelaide. The church proceeded
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Inner-Adelaide office trades for $16 million
A modern and fully let office in Wayville, in Adelaide’s inner south-west, has sold for $16 million. The triple-storey complex
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Third time lucky for Starwood Capital with $480 million bid for Australian Unity Office Fund
It may be third time lucky for Starwood Capital in its attempt to buy the Australian Unity Office Fund. Following
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Adelaide industrial investment leased to SA government fetches $10.1 million
A fully-leased industrial investment north of Adelaide has sold for $10.1 million. In Gepps Cross, about 12 kilometres from the
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Cohen family banks $27.6 million selling portfolio of seven Godfreys-leased assets
Interests associated with the Cohen family, founders of vacuum cleaner chain, Godfreys, have pocketed $27.64 million from the sale of
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New JV acquires logistics assets including c$50 million Siemens warehouse in Melbourne’s Bayswater
Singapore’s listed Straits Trading Company Limited has announced a joint venture partnership with Commercial & General to manage a portfolio
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North Adelaide home once the private residence of Rupert Murdoch’s family hits the market
A North Adelaide property said to have once been the family home of Rupert Murdoch (pictured, left) has hit the
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Singapore’s Soilbuild REIT enters Australia with two acquisitions costing a total of $116.25 million
Perth-based Ascot Capital has sold a poultry plant in South Australia and an office building in the Australian Capital Territory
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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.
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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Proposed 27-Level Tower for Adelaide CBD
ADELAIDE’S Development Assessment Commission is reviewing an $80 million, 27-level office and hotel development in the Adelaide CBD. The tower
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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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Masonic Homes Plans to Expand
SOUTH Australia’s Masonic Homes is continuing its push into residential development, announcing a plan to spend $6 million adding more
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South Australia’s Cockatoo Ridge Winery Sells
SOUTH Australia’s Cockatoo Ridge Winery has sold for $3 million. The 12.8 hectare winery is in Riverland, reportedly Australia’s largest
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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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Gerry Harvey Buys Half Share of Adelaide Bulky Goods Complex
INTERESTS associated with retail mogul Gerry Harvey will pay $31.8 million for a half stake in an Adelaide bulky goods complex the Gepps Cross Centre.
Axiom Properties sold the asset, and will use funds to settle debt.
Read moreWatpac Wins Contract to Develop SA’s Piazza Della Valle, McLaren Vale
QUEENSLAND based builder Watpac has won a $1.4 million contract to develop South Australia’s Piazza della Valle in the McLaren Vale precinct.
The builder released a statement about the development, copied below.
It involves rebuilding an old car park into a community space.
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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Adelaide office sells for $38.64m
ADELAIDE’s prominent 1 King William Street office has sold for $38.64 million.
A release by the selling agents, Colliers International and 333 Real Estate, is copied below, with some details.
The property sold on a yield of 9.5 per cent, based on the $3.685 million net passing income.
Read moreATO 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.
Read moreAustraland Sells Adelaide Industrial Site For $1.35 Million
AUSTRALAND has made about $1.35 million from the sale of a 1.55 hectare vacant industrial site in Adelaide. The 21
Read more$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.
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.
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.
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).
Read moreSouthern 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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PCA Unveils Adelaide in 2036 Planning Proposal
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.
Read moreMeridien, AMP 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.
Read moreHoliday Inn Adelaide Sells For About $35 Million
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.
Read moreBecton Offloads Adelaide’s Blackburn House For $13.75 Million
BECTON Office Fund has reaped $13.75 million for Adelaide CBD’s “Blackburn House”.
A private investor has purchased the 199 Grenfell Street office on a yield of 9.35 per cent. The 18-year old 5,060 square metre office has three street frontages, and is anchored by the Department of Veteran Affairs.
Read moreTruscott Casual Living Goes Into Receivership
ADELAIDE retailer Truscott Casual Living went into receivership on Saturday with debts of about $5 million.
Truscott closed four stories ahead of the receivership, but 10 stores still exist, including in the Adelaide CBD, Croydon, Mt Barker and Port Lincoln.
Ernst & Young has been appointed as receiver.
Read moreMasonic Homes Pays $10 Million For Adelaide Aged Care Complex
RETIREMENT village operator Masonic Homes has paid $10 million an aged care facility in Adelaide. The Hillsview Village complex, in
Read moreAdelaide Federal Magistrates Court to Decide Flinders University Dispute
The ABCC has issued a new proceeding in the Federal Magistrates Court in Adelaide.
The ABCC alleges that the CFMEU and Mr Justin Feehan engaged in two instances of unlawful industrial action at a construction site at Flinders University, South Australia, in May 2008.
A first directions hearing has been scheduled for 30 June 2009.
Kerry Stokes Pays $5 Million For Mt Scrub, South Australia
NETWORK SEVEN chairman Kerry Stokes has paid about $5 million for a 660 hectare farm, adjoining his own, on the Fleurieu Peninsula, south of Adelaide.
Mt Scrub was offloaded by the Lush family, and includes 40 hectares of heritage protected native bushland, several kilometres of creeks and views over the Southern Ocean.
Read moreNine sells McLeod’s Daughters ‘Drover’s Run’
Kingsford, the South Australian farm used in Channel Nine’s McLeod’s Daughters, has sold to a local for $1.5 million. The network put the property on the market after announcing it had axed the Australian drama after seven years.
Read moreStockland Sells South Australian Shopping Centre For $87.5 Million
Stockland today announced the $87.5 million sale of its Stockland Parabanks shopping centre, as it looks at re-investment opportunities in key strategic growth areas.
Read moreDevine Buys 30 Hectares of Land in Meadows, South Australia
Diversified property group Devine Limited (ASX: DVN) has today announced the strategic acquisition of a prime 30 hectare land parcel in Meadows, 40 minutes
drive south of the Adelaide CBD.
Adelaide’s rental market tightens
The rental market has tightened in Adelaide with the residential vacancy rate dropping below 1% in the month of December, according to the Real Estate Institute of SA (REISA).
Read moreAdelaide house prices soar to new heights
The median price of an Adelaide house surged 7.7 per cent in a quarter to reach $350,000 in December. Real
Read morePrices 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.
Calm before storm as rental vacancies ease
As the rental market prepares for its busiest period of the year, Adelaide’s vacancy rate eased slightly to 1.63% for the month of November, according to the Real Estate Institute of SA (REISA).
Read moreHomeowners get Christmas reprieve
Jingle bells are ringing for South Australian homeowners after the Reserve Bank of Australia decided not to raise interest rates at its December meeting, the Real Estate Institute of SA (REISA) said.
Read moreDBRREEF Buys Bunnings Warehouse in South Australia
DB RREEF, on behalf of its direct property mandate with AXA Wholesale Australia Property Fund (WAPF), today announced it had entered into the South Australian retail market with the acquisition of a property in Modbury for $18.5 million.
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Rental market starts to heat up
The 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.
Read moreRental vacancies back above 1%
Adelaide’s tight rental market is continuing through to the colder months with April recording a low residential vacancy rate of 1.01%.
Read moreInterest rates on hold
Homeowners have survived the first half of 2007 without an interest rate rise after the Reserve Bank of Australia left rates unchanged at its June meeting.
Read moreProperty taxes buoy State Budget but no relief for buyers
The Real Estate Institute of SA said they were disappointed that no taxation relief had been offered to homebuyers in this year’s State Budget, particularly for those hoping to buy their first property.
Read moreRental shortage eases slightly
Adelaide’s tightest rental market in decades is showing signs of easing after the month of May recorded a vacancy rate of 1.44%, according to the Real Estate Institute of SA (RESIA).
Read moreSA real estate hits national stage
The Real Estate Institute of SA (REISA) was pleased to host the national Institute today to talk about national real estate issues and the strength of the South Australian market.
Read moreNew financial year off to good start
Homeowners have had a welcome start to the new financial year with interest rates remaining unchanged in July, the Real Estate Institute of South Australia (REISA) said today.
Read moreStrong rural economies support real estate growth
South Australia’s regional housing markets have continued their strong growth, according to the latest real estate statistics released today by the Real Estate Institute of SA (REISA).
Read moreAdelaide’s real estate market returns to boom conditions
The Adelaide real estate market is red hot with no signs of abating, according to the latest June quarter housing figures released today by the Real Estate Institute of SA (REISA).
Read moreRental market stabilising
Adelaide’s rental vacancy rate has stabilised at 1.34% for the month of June, according to the Real Estate Institute of SA’s monthly survey.
Read moreHigher interest rates to put pressure on homebuyers
Homeowners will be forced to tighten their belts in the wake of this month’s interest rate rise, the Real Estate Institute of South Australia (REISA) said today.
Read moreRelief in Adelaide’s rental market
REISA President Mark Sanderson said that winter had brought some much-needed relief to struggling tenants with the vacancy rate at 1.4% for the month of July.
Read moreUnchanged interest rates ‘relief’ for homebuyers
Today’s announcement by the Reserve Bank of Australia to leave interest rates unchanged is a relief after last month’s rise, the Real Estate Institute of South Australia (REISA) said.
Read moreRental market offers relief to tenants
Adelaide’s residential vacancy rate has stabilised at a healthy 1.5% for the month of August, according to the Real Estate Institute of South Australia.
Read moreReal estate sector welcomes steady interest rates
The Real Estate Institute of South Australia (REISA) has today welcomed the announcement to leave the official cash interest rate unchanged for the month of October.
Read moreCountry house prices ease
House prices in regional South Australia have eased in the September quarter but are still showing strong long-term growth, the Real Estate Institute of South Australia (REISA) says.
Read moreSurging house prices in Adelaide
House prices in Adelaide have gone from strength to strength in 2007 with the median house price reaching $320,000 in the September quarter.
Read moreInvestors flock to SA while vacancy rates remain low
Adelaide has maintained a low vacancy rate of 1.49% for the month of September, according to the Real Estate Institute of South Australia.
This is despite the fact that investors have flocked to the South Australian rental market recently, with the number of rented properties rising by 5.9% over the past 12 months.
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REISA announces new President
The Real Estate Institute of South Australia held its Annual General Meeting yesterday evening, at which Mr Robin Turner was elected as the President for 2007/08.
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