Church buys city fringe office to occupy
The Catholic Archdiocese of South Australia has snapped up a prominent inner south Adeliade office for Catholic Education South Australia.
The deal for 186 Greenhill Road, Parkside, is worth $24 million.
Vendors, Realside, for its Investment Fund, and Australasian Property Developments, picked it up the two level office on 5903 square metres in 2020 as part of a $200m portfolio offered by local investor Pep Rocca.
Until recently, it was anchored to Viterra; that occupier is set to move out.
Letcher Moroney Chartered Accountants, another tenant, will stay.
The deal comes two months since we reported Southern Cross Care sold 151 Greenhill Rd, Parkside, to a local syndicate.
CESA on the move
The Catholic Church will refurbish 186 Greenhill Rd ahead of letting the c4954 square metre space to CESA.
With a mix of open air and undercover car parks, it is set to house about 200 staff by mid-next year.
CESA will relocate from 116 George St, Therbarton. McGees’ Andrew Wilson and Phillip Joncheff acted for APD, backed by Mr Rocca, and Realside; the deal was brokered off-market.
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