Land / Land For Sale
Expressions of Interest. EOI Date 16 May 2019
Land Area: 4,325.00 m2. Floor Area: 4,325.00 m2.
This superbly located property occupies an outstanding medium to high density ‘corner to corner’ infill development site with 3 street frontages and considerable improvements in Adelaide’s highly desirable and cosmopolitan eastern suburbs, with a median suburb house price of $821,500.
The significant site of 4,325 sqm* is across 5 contiguous Certificates of Title, with exceptional access, exposure, ‘corner to corner’ frontage of 79.51 metres to Fullarton Road and additional frontages to Birks Street of 57.91 metres and Olive Street of 48.77 metres.
The property is offered with vacant possession and will appeal to developers seeking to redevelop the site for medium to high density residential development and operators seeking to reposition the asset for ongoing use.
Improvements comprise of an operational single storey building with a combination of single and shared rooms, laundry, kitchen, staff offices and meeting spaces, consulting rooms, communal lounge and dining facilities, together with on-site loading and car parking spaces accessed from Olive Street and Birks Street respectively.
The locality features an award-winning retail offer including Frewville Foodland, voted world’s best supermarket in 2016 and 2017, and Arkaba Village Shopping Centre. The superb amenity is enhanced by high quality residential properties surrounding the site and hotel, motel, medical clinics, commercial land uses and the $400 million ‘Glenside’ medium density residential project currently being undertaken by Cedar Woods on the former Glenside Hospital site which are all within easy walking distance.
The size and locality of the property offers buyers the opportunity to undertake a full redevelopment of the site for medium to high density townhouse and/or apartment development, retirement, aged care and mixed use, with the zoning supportive of more intensive development. Alternatively, the existing improvements provide potential scope for reuse and conversion into alternative use including aged care, supported and disability accommodation.
To arrange an inspection or for more information, please contact Colliers International as the exclusive selling agents.
- 4,325sqm* site extensive street frontage
- Medium to high density zoning
- Residential development site
- Asset repositioning opportunity
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