Towering new proposal to transform South Tce

Another high-rise apartment tower looks set to be proposed along Adelaide’s south parklands following the listing of a disused office space.

Planning regulations allow for 68-70 South Terrace to be redeveloped up to 36m high, potentially allowing for a 12-storey building with up to 30 residential apartments, according to Commercial SA director Evan Florinis, who is selling the property under an expressions of interest campaign.

The prime city location is near to Pultney Grammar School, as well as the picturesque Veale Gardens, the Princess Elizabeth Playground and the South Terrace tram stop.

Given the current housing shortfall, Mr Florinis said the site was an “obvious’’ choice for

high-rise city apartments.

“It’s a really nice location, not too far from the Central Markets precinct … and it’s got the parklands (across the road),’’ he said.

“It takes you out of the hustle and bustle of the city while still being city living and it’s just a nice, peaceful spot.’’

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68-70 South Terrace, Adelaide has been listed for sale with planning approval for a 36m high apartment tower.

The tower would be one of the highest on South Tce.

An existing, single-storey stone façade building on the 964sqm site was previously leased for consulting offices but Mr Florinis said the tenants vacated six months ago and the owner had decided to sell as part of a “change in direction in terms of what he’s doing’’.

While most buyer interest was from local developers looking to transform the property to residential living, he said there were some inquiries from owner-occupier buyers intending to use the current office building for the foreseeable future while “holding onto something that can still be converted’’ to a more profitable business venture later.

The property is just a few blocks from a 10-storey apartment tower proposed for 75-76 South Terrace that, if given the green light, will stand at up to 40.9m tall.

Those plans, which are a revised version of designs already approved by the Adelaide City Council, allow for 15 luxury apartments within a building that is 38.5m tall at its roof and 40.9m at the lift overrun – exceeding the area’s 36m-high zoning.

The site is currently home to a sandstone-fronted character building.

The property formerly served as medical consulting rooms.

The developer, Woodville-based Ormond Nominees, has argued the extra height is justified and the lift overrun would not be visible from ground level.

The surrounding properties for both South Terrace allotments are considerably smaller, although there are a number of buildings that are up to 10 storeys high elsewhere along the street.

Under the Greater Adelaide Regional Plan, released last September, more than 45,000 new homes are needed in the city and inner metro area by 2051, while Adelaide City Council aims

to double the city’s population to 50,000 by 2036.

Expressions of interest for 68-70 South Terrace, which has been listed without a price guide,

close on Friday, March 14.