[CAN] [The Precinct] | 58m | 5 x 18lvls | Apartments

[crawf]

Anybody know what's happening here? Fenced off, lots of shipping containers and the (few) people there say it's a construction site but not much more. Some kind of temporary storage area for upcoming events?

The former bus station site will be transformed into a new hub for this years Adelaide Fringe.

[omada]

Reb-L wrote:Anybody know what's happening here? Fenced off, lots of shipping containers and the (few) people there say it's a construction site but not much more. Some kind of temporary storage area for upcoming events?

The former bus station site will be transformed into a new hub for this years Adelaide Fringe

That's good news!

[Will]

Site is for sale:

http://www.realcommercial.com.au/proper ... -501082799

Adelaide's best CBD development site

The Precinct has been extensively master planned to deliver a high density urban living hub. Two high quality developments comprising 322 apartments are complete; Altitude Apartments and The Gallery with total sales exceeding $140 million.

The balance of the site encompassing approximately 5,638 square metres is offered for sale creating a sensational opportunity for high density residential development, student accommodation, short term visitor accommodation and intensive accommodation for retirement living, possibly incorporating aged care.

The Precinct is located in the burgeoning west end of the Adelaide central business district and is surrounded by approximately $3.5bn of public and private infrastructure investment including the new Royal Adelaide Hospital (RAH), SA Health and Medical Research Institute (SAHMRI), Adelaide University School of Medicine and Nursing, University of South Australia and SA Pathology’s Centre for Cancer Biology. Collectively these developments will form the largest health and biomedical research precinct in the southern hemisphere.

With strong, proven sales history, existing display centre on site, a key CBD location and substantial opportunity for further development, The Precinct is Adelaide’s best high density residential development site.

• Comprehensively master planned development site of 5,638sqm*
• Potential for 560 apartments across 42,570sqm* of gross floor area in multiple stages (STNC)
• “Catalyst site” with no prescribed height limits (STNC)
• Over 320 apartments sold in the first two stages
• Sensational Adelaide CBD location – close to Chinatown, Central Market, restaurants of Gouger Street, University West End Precinct and new Royal Adelaide Hospital
• Holding income potential from existing buildings (STNC)

*Approx

For Sale by Expressions of Interest closing 4pm Thursday 8 May 2014

[crawf]

Sensational Adelaide CBD location

[[Shuz]]

It would seem that this development should appear to be more viable now, with the removal of the height limits for the site. I understand that back when Altitude and Gallery were built, it was under the old ACC development plan regime, which the council actually (believe it or not) raised the height limit to 60m in what was otherwise a 28m height limit zone.

Factoring in the airport flight paths and respective OLS height limitations, I imagine the maximum tallest building(s) would only be around 100-110m (based on precendent of the Rosina Street and 128 Waymouth Street proposals).

[mgb]

It seems as well as selling this site the council is also selling the old bus depot. (reported in todays paper)

Hopefully these locations are purchased by someone with some new ideas and designs that actually get off the ground. Having these derelict sites in a central part of the city is not a good look.

[Dondude]

It seems as well as selling this site the council is also selling the old bus depot. (reported in todays paper)

Hopefully these locations are purchased by someone with some new ideas and designs that actually get off the ground. Having these derelict sites in a central part of the city is not a good look.

Any link for council selling the old bus depot please?

[mgb]

It seems as well as selling this site the council is also selling the old bus depot. (reported in todays paper)

Hopefully these locations are purchased by someone with some new ideas and designs that actually get off the ground. Having these derelict sites in a central part of the city is not a good look.

Any link for council selling the old bus depot please?

It was in yesterdays Advertiser and the agent was McGees. Currently it is not yet listed on realcommercial.com.au but I expect it will turn up there in the next week.

[ml69]

They are both fantastic sites waiting for the right residential development to come along. I actually believe that medium rise is the correct scale for these sites ... development between 8-12 storeys. Something like Mayfield.

If the design quality is excellent, apartment sizes reasonable and prices reasonable, there's no reason why they shouldn't sell well being located in the most happening quarter of the city.

[Waewick]

The probkem is, that there isn't too many Developers in Adelaide with the financial capacity to complete a development of this size.

We are going to need a interstate developer or some sort of JV between govt and private sector.

[ml69]

The probkem is, that there isn't too many Developers in Adelaide with the financial capacity to complete a development of this size.

We are going to need a interstate developer or some sort of JV between govt and private sector.

Or a Chinese developer .... a likely possibility.

[Waewick]

The probkem is, that there isn't too many Developers in Adelaide with the financial capacity to complete a development of this size.

We are going to need a interstate developer or some sort of JV between govt and private sector.

Or a Chinese developer .... a likely possibility.

lets be honest, how many of these so called "chinese" developers have actually ended up building something?

I can only think of 2?

[mshagg]

So what is one supposed to do with a 3 year lease at this site?

http://www.commercialrealestate.com.au/ ... ulky-goods

Perhaps we'll be blessed with another showroom for bankrupt piano stores, or a junkyard for developers to leave their mess on?

[Honey of a City]

So what is one supposed to do with a 3 year lease at this site?

http://www.commercialrealestate.com.au/ ... ulky-goods

Perhaps we'll be blessed with another showroom for bankrupt piano stores, or a junkyard for developers to leave their mess on?

Perfect spot for a night/weekend market. Great location plus undercover plus facilities in old bus station. The Market Shed on Holland was busting at the seams last weekend so there's definitely a demand.

[mshagg]

Looks like the succesful applicant for reactivation of the site is... transfield services!

Appears to have been cobbled together into a makeshift bus depot, complete with bus-sized car park, blocked thoroughfare and a quaint smoko room where resting drivers can knock up a ham and cheese toasty.

Could be worse, i suppose... my money was on someone turning the whole thing into pay and display parking, given the obvious shortage of car parking options on franklin street. Walking through there last night, it did admittedly seem a bit more active; hard not to notice the sound of half a dozen buses idling.