Pep Rocca selling off huge slice of former Coke bottling site in Thebarton

Developer Pep Rocca is offloading a huge slice of the former Coke site in Thebarton, but is promising to forge ahead with plans for a new $100m biomedical hub in the area.

The portion of the former Coca-Cola site currently on the market. Picture: Supplied by Knight Frank

Pep Rocca’s Curated Capital is offloading a huge slice of the former Coca-Cola bottling site in Thebarton, but is promising to forge ahead with plans for a new $100m biomedical precinct on Port Rd.

The Adelaide developer’s Bio Hub project initially comprised of three laboratory, medical consulting and office buildings on Port Rd, while a hotel, medi-stay facility, townhouses, retirement living complex and multistorey car park had been earmarked for the western portion of the site.

However Mr Rocca is now looking to sell off that 1.6ha western portion of “prime real estate”, and is instead focusing his efforts on developing the biomedical precinct along Port Rd.

“As we’ve advanced through the planning phase for the Bio Hub, the design doesn’t require the back portion of the site, providing us with the opportunity to divest it,” he said.

“We’re currently negotiating with several tenants for the Bio Hub and working towards starting construction early in 2024.

“The available parcel of land provides a fantastic opportunity and it’s perfect for residential, hotel or aged care, particularly given its proximity to the Bio Hub.”

Knight Frank and Leedwell Property have been appointed to sell the property, which currently comprises of a number of leased warehouses.

Bounded by Smith and Cawthorne streets, and Light Terrace, the 16,216sq m site is being offered in line or as three individual sites starting from 1393sq m.

Knight Frank’s Oliver Totani said the land was suitable for a range of potential developments, including commercial, light industrial and residential.

“The demand for last mile logistics, in a location like this, is unprecedented across Australia,” he said.

“With the likelihood that a major biomed development will take shape on the front portion of the form Coca-Cola site, the property is well placed to take advantage of the obvious flow on effects.”

Curated Capital acquired the main Coca-Cola bottling plant and landholding in 2019 after the drinks giant shuttered its Thebarton facility after 66 years of operating from the site.

Meanwhile, Mr Rocca also signalled an interest in the planned redevelopment of the nearby West End brewery site following the state government’s acquisition earlier this year.

“We’re looking forward to seeing what becomes of the former West End site – it lends itself perfectly to a mixed-use precinct because of its connection to public transport and its city-fringe location,” he said.

“We would certainly be open to discussing plans with the state government.”

Mr Rocca has several major property developments under way across Adelaide, including a $25m revamp of Curated Capital’s office tower at 45 Pirie St in the CBD, which is expected to be completed by the middle of next year.

Construction has also commenced on the ORTA apartments development at Norwood – a joint venture between Mr Rocca and Adelaide businessman Charlie Zollo.

Mr Rocca said several hospitality and office tenants had been secured for the ground floor of the ORTA development, while 57 of the 65 apartments had already been sold, with residents expected to move in by the end of 2025.

It follows completion of Curated Capital’s nearby COMO mixed-use project earlier this year.

Expressions of interest in the Thebarton property close on December 7.

Originally published as Pep Rocca selling off huge slice of former Coke bottling site in Thebarton