Bowden development booming

ANOTHER land release – touted as a flagship development site – has opened up on the fringe of Adelaide’s CBD.

Mother and son team Marilyn and Jonathon Kaitatzis are the creators and owners of food and retail hub Plant 4 at Bowden (Ceres Market Shed) which has helped foster a community feel there. Pic: Keryn Stevens

ANOTHER land release – touted as a flagship development site – has opened up on the fringe of Adelaide’s CBD.

Renewal SA is seeking developers for Allotment 52, which fronts on to Park Terrace at its fast-growing Bowden site, 2.5km from the city centre. The desire is to facilitate a mix of carparking (120-plus), street-level retail (maximum 200sq m), commercial office (1500sq m plus), and residential with a maximum 100 dwellings, across the 2872sq m site.

Development potential at Bowden is up to 12 storeys, says CBRE’s Mitch Curnow, who is leading the interests of expression sales campaign with Harry Einarson.

“This offers developers the flexibility to create a prime mixed use development with extensive frontage to Park Terrace,” he said.

“The property is the flagship development site, and a future development will have views of the CBD and parklands. We expect significant interest due to its potential for 12 storeys of residential and commercial development.”

Bowden is the South Australian Government’s first higher-density urban in-fill project and has sets new standards in urban renewal.

Renewal SA has been actively developing Bowden into a vibrant residential and commercial hub since 2012. Once developed, Allotment 52 will benefit from the Government’s upgrade of the Outer Harbour Rail Line, which includes construction of a new train stop to service Bowden and provide residents with direct line access to the Adelaide CBD.

Allotment 52 is not the only project on the go at Bowden. Current projects include On the Park (64 dwellings) and On the Lane (26 dwellings), Aeris on the Park (35 dwellings) and Artisan (50 dwellings)

A further Bowden milestone was reached recently with construction starting on Emmett Property’s Park Central – the 10th apartment project to be built at Bowden, with three new apartment projects now on offer to the market.

Since Bowden launched, about 550 apartments and townhouses have been sold, including all 65 apartments at Park Central, with a retail value of more than $30 million.

Nearly 50 per cent of the planned 12-storey Park Central residential (via Emmett Property) sold recently within the first two months of the launch, with the balance selling prior to construction.

Emmett Property also secured a local purchaser for the 340sq m of commercial space at Park Central. Construction should be completed by August 2018 and it will be the first green star building at Bowden.

Emmett’s first Bowden build – the $15 million Merchant apartments – was launched in 2014.

Emmett director Nick Emmett said innovative and commercially successful projects are raising the bar at Bowden.

“The community is developing rapidly with the opening of Plant 4 as a community hub is a game-changer for the development,” he said

The expression of interest campaign for Allotment 52 closes on August 3, 2017.