That deal was brokered by JLL's head of retail investments, Simon Rooney, and head of office investments Rob Sewell. Singapore's sovereign wealth fund GIC backed the purchase with financing. The world's largest private equity firm, Blackstone, bought Adelaide's Rundle Place precinct in 2016 for $400 million. Jamie Guerra, Managing Director of JLL's South Australian business said Adelaide was benefiting from significant infrastructure and private sector investment driven from CBD population growth.īoth the Hindley Street and Frome Street properties have approvals in place for the development of additional floors while the North Terrace property is positioned to capitalise on demand from the nearby residential developments and Rundle Mall. "Offshore groups are finding it challenging to deploy capital into core eastern seaboard markets while the Adelaide CBD is providing compelling opportunities in the $100 million to $250 million price point," said Simon Rooney, JLL's Head of Retail Investments - Australasia.
Investment activity for 2018 in Adelaide's CBD is already above the 10-year annual average with JLL predicting it to be the one of the biggest years on record. "Each of these properties presents an excellent opportunity for someone to add value via further development." The Peregrine Falcon Corporation utilizing its proprietary technology in the fabrication of exotic materals will produce kinetic vehicle. "We have held these assets for a long time and as with all our businesses, we have continually invested in them. Under Phase I, Peregrine successfully demonstrated that a passively cooled, corrosion resistant, and high reliability Jet Blast Deflectors (JBD) can be fabricated for aircraft carrier applications. "It's not every day you have the opportunity to purchase a property with its own set of traffic lights on a major city boulevard," Mr Shahin said, referring to the North Terrace property.
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