Sensational-Adelaide.com

Description
Adelaide’s most important inner urban land parcel representing enormous opportunity
for a major developer to undertake an historic Australian landmark development on
the fringe of the Adelaide CBD.
Property
The site is bounded by Park Terrace to the south, the Adelaide to Outer Harbour
railway line to the west, Drayton Street to the North and Sixth and Seventh Streets
to the east in suburb of Bowden, Adelaide, Australia.
The site is located virtually on the doorstep to the City of Adelaide with the GPO
only 3 kms away.
The Site
Approximately 102,478 square metres with over 300 metres of frontage to Park
Terrace overlooking Bonython Park to North Adelaide and the Adelaide CBD. In total
the site comprises 7 contiguous parcels.
Certificates of Title
There are some 162 Certificates of Title which includes several former public streets
which have been amalgamated by the vendor during some 70 years of ownership.
Short term leases
Clipsal Industries Pty Ltd (a former Gerard Corporation owned entity) occupy
approximately half of the site and have announced their intention to relocate their
operations to new industrial premises at Gepps Cross in late 2009. The balance of
the site is occupied by various Gerard Corporation businesses who will leaseback
the balance of the site for a period coinciding with the expiration of the Clipsal
Industries lease. The Clipsal Industries and Gerard Corporation leases will run
until 31 December 2009 at which time the purchaser will gain vacant possession
of the entire site.
Development Oportunity
The vendor and its consultants, specifically Connor Holmes acting as planning
consultants, have approached the City of Carles Sturt and Planning SA regarding
the possible future rezoning of the Clipsal Site from Industry to Mixed Use in
order to provide the widest possible opportunity for future development of the
site. Both entities have indicated their strong support for the suggested direction
and, as a consequence, Connor Holmes has prepared a report entitled ‘Clipsal Site
Investigations Report’ which provides background information and policy suggestions
that might be referenced by a future Council or Ministerial rezoning process.
The new owner of the site will need to discuss rezoning opportunities
with the Council and the State and will ultimately need to submit further, more
specific, development applications for approval by the City of Charles Sturt prior to
commencement of development of site.

Shuz wrote:I don't know, but I wouldn't be hoping too much. The flightpath is very close by, which will restrict heights. If anything, I think 40m is probably the maximum height they could get for the area.

monotonehell wrote:

Shuz wrote:I don't know, but I wouldn't be hoping too much. The flightpath is very close by, which will restrict heights. If anything, I think 40m is probably the maximum height they could get for the area.

The Clipsal site sits just NE of the flight path on OLS height datum between 80-120AHD which are metres above sea level... anyone have a contour map of Hindmarsh to subtract the land height to get the potential building heights?

crawf wrote:This should be the location for the 'marj'

how_good_is_he wrote:Agents saying $60m - $70m...but I wonder how contaminated the site is and how much extra $$$ it will cost to clean up. PS Does the forum think a DFO [Discount Factory Outlet - like Harbourtown only bigger] would work here?

Omicron wrote:

how_good_is_he wrote:Agents saying $60m - $70m...but I wonder how contaminated the site is and how much extra $$$ it will cost to clean up. PS Does the forum think a DFO [Discount Factory Outlet - like Harbourtown only bigger] would work here?

Given Harbourtown is a refuge of unwanted 1998 summer stock and seems to discard the generally-accepted rules of retailing (hanging clothes on hangers, unpacking stock from boxes, providing aisles wide enough to walk through, a wider range of sizes rather than just XXXXXXL, and so on), the thought of an even larger clone scares me greatly.

how_good_is_he wrote:Agents saying $60m - $70m...but I wonder how contaminated the site is and how much extra $$$ it will cost to clean up. PS Does the forum think a DFO [Discount Factory Outlet - like Harbourtown only bigger] would work here?