Sensational-Adelaide.com

The Scooter Guy wrote: ↑

Wed Aug 29, 2018 5:07 pm

The former Mitre 10 building (which closed in 2013) is still vacant.

I Follow PAFC wrote: ↑

Wed Aug 29, 2018 1:49 pm

Aussie rich-lister banks on the Port’s transformation

PORT Adelaide was the humble beginnings of Australian rich-lister Shaun Bonett’s $1 billion property portfolio — two decades later, the city has the “best positive indicators” since 1998 and he’s returning to the Port to reinvest in his first major purchase.

https://www.adelaidenow.com.au/business ... 21d8076308

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Aussie rich-lister Shaun Bonett banks on Port Adelaide’s transformation
Valerina Changarathil, Exclusive, The Advertiser
August 29, 2018 12:00pm
Subscriber only

Port Canal Shopping Centre $12 million upgrade plan approved

PORT Adelaide was the humble beginnings of Australian rich-lister Shaun Bonett’s $1 billion property portfolio — two decades later, the city has the “best positive indicators” since 1998 and he’s returning to the Port to reinvest in his first major purchase.

“The $45 million redevelopment of the Port Canal Shopping Centre (to be renamed Port Adelaide Plaza) is our latest and largest current development,” said Shaun Bonett, chief executive and managing director of Precision Group.

The centre’s footprint will expand — from 19,000 sqm to 29,394 sqm — and the number of shops will more than double from 28 to 60 in two stages with the final completion in mid-2020.


Artist impressions of the redeveloped Port Adelaide Plaza. Supplied.

The reinvestment comes with a new tenancy to be taken up by global retail giant Aldi, which will open its largest SA store within the shopping centre and the creation of new services on site, including a childcare centre and medical centre, Mr Bonett told The Advertiser.

Precision Group, which also owns the David Jones-leased Adelaide Central Plaza shopping centre at Rundle Mall, has Pran Central in Melbourne and MacArthur Central in Brisbane and a number of other shopping centres in Australia and NZ on its books.

“I remember negotiating this purchase from Babcock & Brown 20 years ago.

“We have seen the area go through various levels of investment and infrastructure improvement.

“Our commitment to SA where the group began has never faltered, so we retained the asset while also enhancing our existing offerings elsewhere, for instance bringing in Tiffany & Co to ACP,” he said.

Precision Group was founded by Shaun Bonett in Adelaide in 1994, as a small investment and redevelopment property business, focused on finding distressed asset opportunities that could be turned around.

In 1998, Precision Group made its first major acquisition, buying the Port Canal Shopping Centre with the adjacent Customs House office building in Port Adelaide for $36 million.

“We did consider redeveloping it two or three times in the past seven years, but what we have seen in the last six months is amazing.

“It’s the most positive indicators for the area we have seen,” he said.


Shaun Bonnet, CEO Precision Group in his Sydney office. Picture: John Feder/The Australian.

Port Adelaide is currently going through a revival with an expected increase in housing and infrastructure spending linked to the $90 billion worth of shipbuilding projects set to come to the Osborne shipyard and the jobs boom that is likely to create.

Work on the $35 billion future frigates build is likely to start in 2021 with the construction of the $50 billion Future Submarines project set to start in 2022-2023.

“Our shopping centre is nestled in the epicentre of that area,” said Mr Bonett, 47, whose wealth is currently estimated at $784 million by the BRW Rich List, where he is ranked 96th.

The centre is expected to attract 3.5 million customers a year who would spend an annual total exceeding $1 billion by 2021, sustaining 160 full-time jobs on site.

Another 120 jobs will be created during construction.

“It’s not just about the retail; the vision we have set is a direct response to customer needs

and trends. We aren’t just investing in the now — we are investing in South Australia’s future,” Mr Bonett said.

Mr Bonett is based in Sydney, co-running the business with Precision Group’s executive director and corporate lawyer Steve Bonett, his brother, who lives in Adelaide.

New plans released of Cedar Wood’s 500-home, $160 million housing development in Port Adelaide

Cedar Woods has released a new concept plan for its $160 million housing development on the Port Adelaide waterfront.

The Australian developer is planning to build about 500 new homes – a mix of two and three-storey townhouses and low-rise apartments – at precincts known as Fletcher’s Slip and North West on the corner of the Causeway and Semaphore Rd, overlooking the Port River.

Cedar Woods provided Port Adelaide Enfield Council with a concept plan for the site’s redevelopment to help the council assess the proposal before it goes to the main planning authority, the State Commission Assessment Panel.

The plan outlines design matters, including such features as pedestrian access to Glanville railway station, which will eventually be revamped.


Artist impression of the 500-home housing project at Fletcher’s Slip and North West, Port Adelaide.

Among other design elements are a public promenade, park and plaza, a new road connecting Wirra Drive to Semaphore Rd, open space, views of the Port River, stormwater infrastructure and reuse of heritage-listed buildings.

A Cedar Woods spokesman said the developer had already received approval for initial site works.

“We’re expecting to start work onsite soon,” the spokesman said.

“Plans for the development’s super lots have been lodged and will be assessed in the coming weeks.”

He said a masterplan for the site was still being developed ahead of the project’s official launch.

“The Fletcher’s Slip masterplan will see the area transformed and revitalised into a vibrant residential community with more than 500 new dwellings across the 12ha site,” the spokesman said.

“The majority will be town homes with front and back yards and some low-rise apartments also forming part of the masterplan.

“The plan will also include the creation of new landscaped open spaces and upgrades to the inner harbour and waterfront.”

SA public servants to be forced to work from Port Adelaide building

TREASURER Rob Lucas has vowed to move public servants to the new $40 million office building in Port Adelaide — despite the building being listed for lease.

“We will be announcing who will be moving down there very soon,” Mr Lucas said. “This is part of the mess we inherited from the former Government — they took the decision (to move public servants to the Port) but then didn’t have the public servants to move down there lined up.”

Public servants were unhappy about moving from the city to the Port earlier this year, complaining particularly about increased travel times.

Mr Lucas said defence companies that initially expressed interest in sub-leasing the property from the State Government had since decided to “take up other options” so public servants would now have no choice but to move to the Port.

In June, Infrastructure Minister Stephan Knoll justified the State Government’s decision to send only 170 public servants there — instead of 500 as originally planned under Labor — on the basis that private defence firms would occupy the remaining floors.


The Port Adelaide office building that’s soon to be filled with public servants, even if they don’t want to work there.

The building, on the corner of Nile and Robe St, comprises three office levels, carparking and a ground floor for retail.

“The defence sector has been knocking on our door to move into this building,” Mr Knoll said at the time.

A State Government spokesman said the “For Lease” sign out the front of the building related to the retail ground floor tenancies only. ​

“The (office) floors were publicly identified for lease to ensure a competitive process was followed and we are still going through that process,” the spokesman said.

The State Government refused to answer how much it was costing it to lease empty floors from the building’s owner, developer epc.Pacific.

The former government signed a 15-year lease on the property.

Port Adelaide Labor MP Susan Close said the government should “stop looking for excuses for why they can’t do things for Port Adelaide“.

omada wrote: ↑

Wed Sep 19, 2018 9:14 am

If they don't want to work at the designated work location, being Port Adelaide - perhaps they look for other work? That's what the rest of us do in the real world - deal with it.

how good is he wrote: ↑

Wed Sep 19, 2018 10:39 am

Surely there are some Govt Dept's currently in Pt Adelaide that could move there? I think the Service SA/licensing place in Dale St could work [it is always packed]..but not sure though if the Libs were closing it down? We know the TAFE is going.

Nort wrote: ↑

Wed Sep 19, 2018 10:26 am

omada wrote: ↑

Wed Sep 19, 2018 9:14 am

If they don't want to work at the designated work location, being Port Adelaide - perhaps they look for other work? That's what the rest of us do in the real world - deal with it.

Employees "dealing with it" often means exactly that, quitting and finding other work. Is it worth moving a department if the cost is losing a bunch of employees?

It's easy to look down your nose, but giving people an extra hour+ of travel time a day will get complaints in any industry.

Ben wrote: ↑

Wed Oct 03, 2018 9:08 am

9 Level building next to Quest

https://www.saplanningcommission.sa.gov ... 053-18.pdf