Adelaide’s Health Boulevard unlocks unprecedented and polyvalent land-holding opportunity

14 June 2024

Worth $6 billion, Adelaide’s North Terrace precinct positions itself as the largest health cluster in the southern hemisphere.

ADELAIDE, 11th June 2024 – Colliers, PropertyFox, and Arrow Advisory Group are exclusively managing the auction of the 100% freehold interest gateway development site on behalf of Wexted Advisors. Colliers’ experts Jordan Schmidt and Alistair Mackie are expecting the development site to attract significant interest from various groups thanks its strategic location and versatile development potential.

Adelaide’s bio-medical precinct is reinforcing its positioning thanks to established entities such as The Royal Adelaide Hospital, SAHMRI, The Adelaide University Medical & Nursing School, The UniSA, The SA Pathology, or the new $3.2 billion Women’s and Children’s Hospital being constructed. The site represents a rare development parcel opportunity for future projects with the Capital City Zoning allowing for significant outcomes and an approximately 43m height limit under the current planning code.

The three street frontages site located on 9-14 North Terrace, 11-19 Newmarket Street and Rose Street comprises 3,575 sqm* of land area. While this rare offering could concretise a potential need for additional clinical or adjacent support services at the location, it also emphasises a perfect fit for mixed-use, residential or commercial purposes. Indeed, Adelaide’s attractiveness continues to draw in interstate investors interest, innovaties industries and tourism activity with around $10.2 billion record tourism spend in 2023.

Colliers’ Head of Investment Services SA, Jordan Schmidt, commented; “The site occupies a high- profile corner position on North Terrace/Newmarket Street/Rose Street and is superbly positioned directly opposite Adelaide’s primary healthcare, bio-medical & life sciences precinct which incorporates the Royal Adelaide Hospital (RAH), the South Australian Health and Medical Research Institute, the new Australian Bragg Centre for Proton Therapy and Research, the new Women’s and Children’s Hospital site and the Adelaide University education and tertiary facilities,”

“The regular-shaped site has a high-profile frontage to North Terrace and Terrace and it extends along Newmarket Street and Rose Street. A short-term holding income is provided via minor improvements and on-site car parking, with all leases incorporating termination clauses,” Mr Schmidt added.

9-14 North Terrace, 11-19 Newmarket Street and Rose Street is offered for sale by public auction from 10.30 am AEST on Thursday 11th July 2024. Conducted by Damien Cooley of Cooley Auctions, the auction will take place in rooms at Cooley CBD, Dexus Place Level 5, 1 Margaret Street, Sydney, and online.