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.

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