Leap of faith: Developer Andrew Taplin will invest $60m of his own money in Glenelg apartments
IF you had a spare $60 million, how would you spend it? For one influential developer the answer is simple. Here’s where and why he’s opting to invest his in Adelaide.
- Developer Andrew Taplin now wants to build 6-storey apartments on top of Glenelg shopping centre
- Developer to spend $60 million to build retail and apartment buildings on Jetty Road, Glenelg
- Plans lodged for 12-storey apartment building at 6-8 South Esplanade, Glenelg, next to Seafield Tower mansion
ANDREW Taplin is a man who puts his money where his mouth is.
The 51-year-old is so confident in the future of Glenelg that he is putting $60 million of his own into two apartment projects on Jetty Rd.
The seven and eight-storey developments — at the corners of Colley Tce and Partridge St — are set to go to the Development Assessment Commission next month.
“I’ve got every confidence that both developments will be well-received,” Mr Taplin says.
“I’m putting my money where my mouth is — I’m not seeking investors or pre-sales.
“I’ve said if they’re approved … we’ll proceed with the works.”
That would mean a start in February next year.
Mr Taplin has a long history of investing in projects he thinks will improve the beachside suburb.
His $17 million GU Film House Glenelg opened last year, and in 2008 he bought the Beachouse (for an undisclosed sum) to keep it going.
He says continued investment is needed in creating attractions to give tourists a reason to keep on coming.
“That can be in a number of areas — from better parking facilities to a better tenancy mix,’ Mr Taplin says.
“Tourists will stay if there’s something to do.
“If you can swim at the beach and there’s facilities like the Beachouse and cinema or a zoo even, why wouldn’t you stay?”
Some developments, such as the cinema, faced opposition during the planning process, but Mr Taplin says people often come around after the fact.
“Now the cinema is open, the small group of people who had some issues with it congratulated me on the way the project was managed and the final outcome,” he says.
Mr Taplin’s latest projects are allowed only because of rezoning last year that relaxed height limits on Glenelg’s main roads.
“It’s probably one of the most positive things that’s happened to Glenelg in its history — the number of constructions jobs that will be created, lifestyle for people and long-term sustainable jobs, facilitating public transport,” he says.
Holdfast Bay Council’s proposal to extend Glenelg jetty and add a hotel and other services to it would be good for the area, Mr Taplin says.
But he is not sure if it would be a profitable investment for the government or business.
Mr Taplin’s grandfather, Wilfred, founded Taplin Real Estate in Glenelg in 1930, just as the Great Depression hit, but he believed the area had a strong future, especially with the popularity of the electric tram, which arrived in 1929.
“We’re Glenelg’s longest-standing business,” Mr Taplin says proudly.
He joined the company in 1985 and became managing director in 1995.
While the Taplin Group of Companies now has some of its biggest assets outside of Glenelg — such as the Mitcham Square and Mawson Lakes shopping centres — Mr Taplin says his biggest passion is still for Jetty Rd and Glenelg, where he lives.
“I travel a lot and every time I come back I say: ‘I’m back in beautiful Glenelg’,” he says.
“It’s a relaxed environment, I enjoy the beach, I enjoy walking, I enjoy the convenience of Jetty Rd — the convenience of parking on Jetty Rd, and the tram.
“There is always room for improvement and you should never rest on your laurels, but I do think we’re unique in that other shopping centres don’t have a beach — not many shopping centres have a tram either.”
Mr Taplin is also planning a third apartment block on top of Bayside Village shopping centre, which he built in 2008.