launch of citypark

CityPark, 216-235 South Terrace, Adelaide

CityPark

• Overview

• The site

• Zoning

• Market conditions

• Development options

• Projected outcomes

• EOI process

• Discussion

CityPark - Overview

• The largest privately owned site in the city of Adelaide

• In total approximately 12,000 sqm (1.2ha)

• Three key existing elements

• Grand Chifley

• Country Comfort

• Chifley on South Terrace

• Excluding Grand Chifley approximately 8,300 sqm

• Combined frontage to South Terrace over 125 metres

• Flexible zoning

CityPark – The Site

CityPark - Zoning

• City Frame Zone – Catalyst Site

• ‘Medium to high scale residential development supported by a mix of shops, personal services, restaurants, cafes and community and hospitality uses.’

• Uses envisaged in the zone

• Aged persons accommodation Consulting rooms

• Dwellings Hotel

• Offices Schools

• Retirement villages Tourist accommodation

CityPark – Market Conditions

Vue on King William

• 27 levels

• 207 apartments

• 89% sold off the plan

Courts Precinct

Proposals formally requested

Shortlist of three consortia

Quest King William

Ibis Grenfell Street

Quest Franklin Street

Mayfair King William Street

CityPark – Market Conditions

Over 900 new apartments either recently completed, under

construction, or pre-selling – all within 500m of the property

- will create a vibrant residential precinct

1. New Mayfield – 400 apartments 4. Quest – 105 keys

2. Gilbert Street – 30 apartments 5. Ergo – 178 apartments

3. Vue – 205 apartments 6. The Storeys – 46 apartments

CityPark

CityPark – Major Drivers

• Medical precinct – SAHMRI, RAH, Cancer Research, Dental School

• University Growth

• City Living

• Mining Expansion

• Convention Centre

• What does this mean for CityPark

• Post hospital care Residential Accomm Retirees

• Student accommodation Tourist / Business short stay

• Other medical uses University additional campus

CityPark – Development

• Revert to Walterbrooke Presentation at this point

• Identification of key ‘development partners’

• Shared vision

• Input into the master planning of the site

• Funding options including JV, Equity, Sale, Lease

• Portion or whole of the site

• Unlocking the development potential of the site

• Likely staged outcome

CityPark – Projected Outcomes

• Expression of Interest

• Non binding

• Closes Friday 19th September 2014

CityPark – EOI

CityPark, 216-235 South Terrace, Adelaide