Adelaide CBD’s Prime Gateway Development Site Offered for Sale

Permit Approved for a landmark mixed-use development at the iconic address of ONE North Terrace, Adelaide.

Colliers has been exclusively appointed on behalf of Australian Unity’s Healthcare Property Trust (AUHPT) to sell a significant 2,924 sqm landholding, ONE North Terrace in Adelaide’s CBD.

Located at the corner of North Terrace and West Terrace, the site is readily identified by the iconic three level sandstone façade of the Newmarket Hotel, which is a feature of the future redevelopment plans for the site.

Colliers agents Jozef Dickinson, Jordan Schmidt, Justin Hazell and Robert Papaleo are handling the sale for Australian Unity’s Healthcare Property Trust (AUHPT).

“Adelaide’s growing reputation as a city for doing business is seeing an unprecedented demand from capital to invest into its very dynamic and fast-growing economy,” said Jozef Dickinson, Colliers National Director | Residential.

ONE North Terrace has approval for a striking scheme incorporating dual 32 towers with a mix of residential and serviced apartments. The common 10 level podium includes flexible commercial space that is integrated with contemporary retail and hospitality offerings across the ground floor and within the restored Newmarket Hotel.

“With such a significant and unrepeatable development approval at this pivotal location between the city’s growing eduaction and health sciences sectors, we are extremely confident that this opportunity in the tightly held Adelaide CBD market will capture the imagination of both local developers and also those from further afield,” Jordan Schmidt, Colliers Head of Office Capital Markets & Investment Services | South Australia commented.

Justin Hazell, Colliers National Director, Transaction Services | Healthcare & Retirement Living, added, “There is an unprecedented planning approval for the site in place, which is surrounded by some of Adelaide’s most important infrastructure, including the Royal Adelaide Hospital, South Australian Health and Medical Research Institute (SAHMRI 1 and 2), UNISA and the medical school of Adelaide University.”

Robert Papaleo, Colliers Head of Living | Residential, highlighted, “This strategic land holding adjacent to the expanding BioMed City precinct is expected to attract strong interest from the biomedical, education, leisure and Living sectors looking to secure the most coveted address in Adelaide’s CBD and leverage continuing city-shaping investments around this corner of North Terrace”.

The property will be offered for sale via Expressions of Interest closing at 4:00 pm (AEST) on Thursday, 29 May.