Download - Launch of CityPark
CityPark, 216-235 South Terrace, Adelaide
CityPark
• 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
• 27 levels
• 207 apartments
• 89% sold off the plan
Courts Precinct
Proposals formally requested
Shortlist of three consortia
Quest King William
Ibis Grenfell Street
Quest Franklin Street
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 4. Quest – 105 keys
2. Gilbert Street – 30 apartments 5. Ergo – 178 apartments
3. Vue – 205 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
• Revert to Walterbrooke Presentation at this point
• 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 – Projected Outcomes
• Expression of Interest
• Non binding
• Closes Friday 19th September 2014
CityPark – EOI
CityPark, 216-235 South Terrace, Adelaide