Buyers prepare to pounce on development opportunity in Adelaide

12 February 2019

As the Adelaide CBD continues with its dynamic and transparent building projects for 2019, another exclusive chance to secure a development site has hit the market.

Savills Australia’s Peter Isaksson and Rino Carpinelli have been appointed to sell the approved 460sq m development site at 203-205 North Terrace and are expecting offers of around $5 million.

Plans have been approved for a 19-level mixed-use development to be constructed above a stone heritage building built in 1867.

“Other development options could also include a hotel, student accommodation or residential apartments,” Mr Isaksson said.

“Expected buying groups will include residential and commercial developers who could adapt the plans to suit their needs,” he said.

“We believe there could also be interest from people wanting to renovate the existing improvements for a single residence or a group of apartments.”

Located at a high-profile location, the property is adjacent from the State Library, Art Gallery and Museum.

“The property enjoys a commanding position in an area that has transformed throughout recent times, with a mixture of office, residential complexes and public transport activity,” Mr Isaksson said.

Expressions of interest close 4pm Thursday 7 March 2019.

Learn more about Savills Metropolitan and Regional Sales.

 
 

Key Contacts

Peter Isaksson

Peter Isaksson

Director
Capital Transactions

Savills Adelaide

+61 (0) 8 8237 5020

 

Rino Carpinelli

Rino Carpinelli

National Head - Asset Management and Managing Director - SA

Savills Adelaide

+61 (0) 8 8237 5000