CityPark, 216-235 South Terrace, Adelaide
CityPark
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Overview The site Zoning Market conditions Development options Projected outcomes EOI process Discussion
CityPark - Overview • The largest privately owned site in the city of Adelaide • In total approximately 12,000 sqm (1.2ha)
• Three key existing elements • Grand Chifley • Country Comfort
• Chifley on South Terrace • Excluding Grand Chifley approximately 8,300 sqm • Combined frontage to South Terrace over 125 metres
• Flexible zoning
CityPark – The Site
CityPark - Zoning • City Frame Zone – Catalyst Site • ‘Medium to high scale residential development supported by a mix of shops, personal services, restaurants, cafes and community and hospitality uses.’ • Uses envisaged in the zone • Aged persons accommodation
Consulting rooms
• Dwellings
Hotel
• Offices
Schools
• Retirement villages
Tourist accommodation
CityPark – Market Conditions
Vue on King William
Courts Precinct
Quest King William
• 27 levels
Proposals formally requested
Ibis Grenfell Street
• 207 apartments
Shortlist of three consortia
Quest Franklin Street
• 89% sold off the plan
Mayfair King William Street
CityPark – Market Conditions
Over 900 new apartments either recently completed, under construction, or pre-selling – all within 500m of the property - will create a vibrant residential precinct
1. New Mayfield – 400 apartments 2. Gilbert Street – 30 apartments 3. Vue – 205 apartments
4. Quest – 105 keys 5. Ergo – 178 apartments 6. The Storeys – 46 apartments
CityPark
CityPark – Major Drivers • Medical precinct – SAHMRI, RAH, Cancer Research, Dental School • University Growth
• City Living • Mining Expansion • Convention Centre • What does this mean for CityPark • Post hospital care
Residential Accomm
Retirees
• Student accommodation
Tourist / Business short stay
• Other medical uses
University additional campus
CityPark – Development
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Revert to Walterbrooke Presentation at this point
CityPark – Projected Outcomes • • • • • • •
Identification of key ‘development partners’ Shared vision Input into the master planning of the site Funding options including JV, Equity, Sale, Lease Portion or whole of the site Unlocking the development potential of the site Likely staged outcome
CityPark – EOI • Expression of Interest • Non binding • Closes Friday 19th September 2014
CityPark, 216-235 South Terrace, Adelaide