Wakefield Hospital site to be transformed into medical precinct in $100m plan
The old Wakefield Hospital site in Adelaide’s CBD will become a state-of-the-art medical centre under a $100m plan to completely redevelop the site.
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The former Wakefield Hospital in the CBD will be transformed into a new state-of-the-art health precinct as part of a $100m plan to breathe new life into the site.
Developer Pelligra, run by Melbourne property mogul Ross Pelligra, has paid $30m for the 9000sq m site and will invest a further $70m in a major redevelopment.
Work will begin early in the new year and will include an extensive refurbishment of existing facilities, new fit-outs for incoming tenants and the development of a new building on an adjacent carpark on Ifould St.
Mr Pelligra said medical and health service providers would be lured to the site, which could potentially include aged-care facilities and a day surgery.
“Pelligra Group acknowledges that the Wakefield Hospital site holds a significant amount of history for many South Australians,” he said.
“While many developers would demolish and redevelop the multifaceted site to accommodate a high-density residential asset, this is certainly not our intention at Pelligra.
“Pelligra sees great value in the existing medical infrastructure and will be investing substantial capital to transform the site into a state-of-the-art health and wellness precinct in line with its historical use.”
The 115-year-old hospital closed at the start of the year when operator Calvary relocated to its new $345m, 344-bed facility on Angas Street.
It has since been transformed into a dedicated COVID-19 response facility as part of the State Government’s response to the pandemic.
The State Government’s lease is due to expire at the end of the year.
In addition to the main hospital site, bordered by Hutt, Wakefield, Ifould and Daly streets, Pelligra’s acquisition includes a carpark on Ifould St and a bluestone villa on Flinders St.
It follows a series of major investments made by the group in South Australia in recent years, starting with the $55m purchase of the former Holden factory at Elizabeth in 2017.
The developer is spending $250m to turn the site into a major business park in the northern suburbs, while it is also refurbishing a heritage office building on Pirie St in the CBD and partnered with local entrepreneur Mark Sellar to build 69 homes at Largs North.
Mr Pelligra said the company was seeking to expand its presence in South Australia, and specifically, tap into the state’s growing health services industry.
“The past five years have seen a rapid rise in excellent healthcare services and facilities becoming available in South Australia, and moving forward Pelligra wants to be an integral part of that industry growth,” he said.
“There is a sense of expectation with this project and Pelligra are working hard to ensure that we deliver a world-class site.”
International property groups JLL and CBRE have been engaged to secure tenants for the project, with parts of the facility expected to open early next year.