Coke site owner plans to build $350m biomed precinct

[I Follow PAFC]

Coke site owner plans to build $350m biomed precinct
An ambitious project would transform Port Rd at Thebarton by turning the former Coca-Cola factory into a biomedical hub.
Behind a paywall.
https://www.adelaidenow.com.au/business ... 8c4cf33e81

[Nort]

What's the plan, some kind of private hospital?

[Nathan]

Owner of Coca-Cola factory site at Thebarton plans to build a $350m biomedical precinct

The former Coca-Cola bottling plant at Thebarton would be transformed into a state-of-the-art biomedical precinct under a $350m plan to breathe new life into the site.

Adelaide company Australasian Property Developments has unveiled its ambitious vision for the 3.6ha property, dubbed Bio Hub Adelaide, hoping to capitalise on the city’s burgeoning reputation for world-class biomedical research and facilities.

Under the plans, three eight-storey buildings would be built along Port Road, delivering 44,000sq/m of space for laboratory, medical consulting and general office tenants.

A six-storey hotel and medi-stay facility would be built at the centre of the site, while a mix of townhouses and retirement accommodation would be developed along Cawthorne and Smith streets.

Cafes, shops and other retailers would operate from ground floor tenancies, opening to a central plaza and “village green”.





About 800 car parks are planned, including in a six-storey car park on Light Terrace.

The project is expected to create more than 1500 jobs during construction and more than 2000 ongoing jobs.

Australasian Property Developments (APD) managing director Pep Rocca said the five-to-six year project would “cement Adelaide’s status as Australia’s biomed capital”.

“As the next chapter for the southern hemisphere’s largest biomed cluster, Bio Hub Adelaide will be an economic backbone for South Australia for generations to come, and create essential jobs and infrastructure at a time when a strong medical industry is so critical,” he said.

“With unparalleled connectivity, the $350m project is a state-of-the-art extension of the existing biomed precinct, and is primely positioned adjacent to the new Royal Adelaide Hospital and South Australian Health and Medical Research Institute (SAHMRI).

“We are thrilled to launch Bio Hub Adelaide as our latest vote of confidence in the South Australian economy.”

APD is in talks to secure tenants for the project, with SA Pathology – which plans to relocate from its Frome Road headquarters – and a new Adelaide eye hospital two key targets to anchor the first stage of development.





Samples from a new pathology facility, which would take up about 12,000sq/m, would be sent to the Royal Adelaide Hospital underground via a pneumatic tube – a system that works similar to a vacuum.

Mr Rocca said private and public health organisations were being sought for the development, which is located around 500m from Adelaide’s $5.7 billion biomedical precinct.

The precinct includes the new $2.4 billion Royal Adelaide Hospital, which opened in 2017, and SAHMRI 2 – a $500m building which will become home to Australia’s first proton therapy unit when completed in 2023.

Coca-Cola Amatil ceased bottling at the historic Thebarton plant in 2018 after 66 years of operating from the site.

APD acquired the main facility and landholding last year, while two smaller parcels of land were sold separately to Anglicare SA and industrial supplier Jetwave.

Mr Rocca said he hoped to secure planning approval by the end of next year, with construction of the staged development expected to commence in 2022.

[Nort]

Owner of Coca-Cola factory site at Thebarton plans to build a $350m biomedical precinct

The former Coca-Cola bottling plant at Thebarton would be transformed into a state-of-the-art biomedical precinct under a $350m plan to breathe new life into the site.

Adelaide company Australasian Property Developments has unveiled its ambitious vision for the 3.6ha property, dubbed Bio Hub Adelaide, hoping to capitalise on the city’s burgeoning reputation for world-class biomedical research and facilities.
*snip*

That looks like a great development for the area!

[PeFe]

Personally I think that this is a little bit of a wasted opportunity. I would have liked to see apartments fronting Port Road taking advantage of those beautiful views to the hills. The bio-medical precinct could have been at the back of the site.

You will get better medical research if the staff don't have a beautiful vista to be distracted by.

[crawf]

Personally I think that this is a little bit of a wasted opportunity. I would have liked to see apartments fronting Port Road taking advantage of those beautiful views to the hills. The bio-medical precinct could have been at the back of the site.

You will get better medical research if the staff don't have a beautiful vista to be distracted by.

Still plenty of opportunities along Port Road for residential developments.

Port Road needs a good mix of developments, so this is welcomed news. Hopefully it kickstarts further investment along Port Road.

[SBD]

Personally I think that this is a little bit of a wasted opportunity. I would have liked to see apartments fronting Port Road taking advantage of those beautiful views to the hills. The bio-medical precinct could have been at the back of the site.

You will get better medical research if the staff don't have a beautiful vista to be distracted by.

Presumably the layout that seems strange to us is driven by constraints we haven't thought of. The developer is unlikely to have chosen a layout that deliberately avoids getting the highest return on their investment.

For example Cawthorne Street seems to have housing along it. Planning rules might limit traffic and building height (oversight or shade) on that side of the block. There's also the perennial concern about flight paths. These buildings aren't far from the final approach to Adelaide Airport - horizontal or vertical.

[ChillyPhilly]

Six storey carpark? Yikes. It's right next to a tram stop and high frequency bus routes.

Other than that, it's a decent enough proposal.

[Patrick_27]

Six storey carpark? Yikes. It's right next to a tram stop and high frequency bus routes.

Other than that, it's a decent enough proposal.

Yeah, not sure of the need for encouraging private vehicle use, perhaps the COVID outbreak? But I would have thought putting a couple of levels of car parking below these buildings would have provided enough parking and allowed for the raised carpark portion of this site to be better used for something relating to the bio-med concept of this precinct.

[Nort]

It's got a residential component, lots of workers, and people who need to access medical appointments. In this case carparking on site seems sensible.

[ChillyPhilly]

Nothing wrong with on-site parking, but six storeys in this location is borderline inappropriate.

[rev]

Ahhh what was it that I was saying?

100% on the money, as usual. Keep on hating.

[Llessur2002]

Pep Rocca selling off huge slice of former Coke bottling site in Thebarton

Pep Rocca’s Curated Capital is offloading a huge slice of the former Coca-Cola bottling site in Thebarton, but is promising to forge ahead with plans for a new $100m biomedical precinct on Port Rd.

The Adelaide developer’s Bio Hub project initially comprised of three laboratory, medical consulting and office buildings on Port Rd, while a hotel, medi-stay facility, townhouses, retirement living complex and multistorey car park had been earmarked for the western portion of the site.

However Mr Rocca is now looking to sell off that 1.6ha western portion of “prime real estate”, and is instead focusing his efforts on developing the biomedical precinct along Port Rd.

“As we’ve advanced through the planning phase for the Bio Hub, the design doesn’t require the back portion of the site, providing us with the opportunity to divest it,” he said.

“We’re currently negotiating with several tenants for the Bio Hub and working towards starting construction early in 2024.


The portion of the former Coca-Cola site currently on the market. Picture: Supplied by Knight Frank

Pep Rocca’s Curated Capital is offloading a huge slice of the former Coca-Cola bottling site in Thebarton, but is promising to forge ahead with plans for a new $100m biomedical precinct on Port Rd.

The Adelaide developer’s Bio Hub project initially comprised of three laboratory, medical consulting and office buildings on Port Rd, while a hotel, medi-stay facility, townhouses, retirement living complex and multistorey car park had been earmarked for the western portion of the site.

However Mr Rocca is now looking to sell off that 1.6ha western portion of “prime real estate”, and is instead focusing his efforts on developing the biomedical precinct along Port Rd.

“As we’ve advanced through the planning phase for the Bio Hub, the design doesn’t require the back portion of the site, providing us with the opportunity to divest it,” he said.

“We’re currently negotiating with several tenants for the Bio Hub and working towards starting construction early in 2024.

“The available parcel of land provides a fantastic opportunity and it’s perfect for residential, hotel or aged care, particularly given its proximity to the Bio Hub.”

Knight Frank and Leedwell Property have been appointed to sell the property, which currently comprises of a number of leased warehouses.

Bounded by Smith and Cawthorne streets, and Light Terrace, the 16,216sq m site is being offered in line or as three individual sites starting from 1393sq m.

Knight Frank’s Oliver Totani said the land was suitable for a range of potential developments, including commercial, light industrial and residential.

“The demand for last mile logistics, in a location like this, is unprecedented across Australia,” he said.

“With the likelihood that a major biomed development will take shape on the front portion of the form Coca-Cola site, the property is well placed to take advantage of the obvious flow on effects.”

Curated Capital acquired the main Coca-Cola bottling plant and landholding in 2019 after the drinks giant shuttered its Thebarton facility after 66 years of operating from the site.

Meanwhile, Mr Rocca also signalled an interest in the planned redevelopment of the nearby West End brewery site following the state government’s acquisition earlier this year.

“We’re looking forward to seeing what becomes of the former West End site – it lends itself perfectly to a mixed-use precinct because of its connection to public transport and its city-fringe location,” he said.

“We would certainly be open to discussing plans with the state government.”

Mr Rocca has several major property developments under way across Adelaide, including a $25m revamp of Curated Capital’s office tower at 45 Pirie St in the CBD, which is expected to be completed by the middle of next year.

Construction has also commenced on the ORTA apartments development at Norwood – a joint venture between Mr Rocca and Adelaide businessman Charlie Zollo.

Mr Rocca said several hospitality and office tenants had been secured for the ground floor of the ORTA development, while 57 of the 65 apartments had already been sold, with residents expected to move in by the end of 2025.

It follows completion of Curated Capital’s nearby COMO mixed-use project earlier this year.

Expressions of interest in the Thebarton property close on December 7.

From: https://www.adelaidenow.com.au/business ... 0a0e80eebc

[Norman]

Hopefully things get moving here soon, this is a prime site with a free tram service, great bus connections and sprawling parklands just across the road.