After serving the South Australian community for more than 30 years, Cancer Council SA’s Lodges on Greenhill Lodge and Dequetteville Terrace will go on the market for sale this week, with the proceeds helping to fund the organisation’s new, integrated cancer building at 202 Greenhill Road, Eastwood.
The properties, to be offered for sale through Colliers, have provided a home away from home for generations of regional South Australians travelling to Adelaide for cancer treatment. In the last financial year alone, the lodges provided more than 30,000 nights of subsidised accommodation to those who need it most.
Once sold, the properties will be leased back by Cancer Council SA for a 14-18 month period, ensuring that regional and remote South Australians travelling to Adelaide for cancer treatment will still have somewhere to stay while the new building is being completed.
Jordan Schmidt, Justin Hazell and Alistair Mackie will be managing the sale campaigns on behalf of Cancer Council SA.
Jordan Schmidt of Colliers said “the two sites, located at 204 Greenhill Road Eastwood and 26-27 Dequetteville Terrace Kent Town, are two of the best development or repositioning opportunities to hit the market in recent times.”
“The size and configuration of the sites, their significant frontage, favourable zoning and parkland frontage provides developers with wide ranging development opportunities” Alistair Mackie said.
Justin Hazell said that “the properties will appeal to a wide-ranging group of developer and owner occupier purchaser groups including residential developers, vertical retirement and aged care providers, commercial developers and investors, mixed use developers and various accommodation groups that may look to reposition and reuse the improvements.”
Colliers has unrivalled experience in selling properties in the area – in the past 12 months, they have sold four on-market properties on Greenhill Road, and four within Kent Town and Norwood.
Alistair Mackie said that “the ‘triple net’ leaseback to Cancer Council SA provides purchasers with a guaranteed and secure income stream for a 14-18 month period while the next phase of the properties use is being planned for.”
Cancer Council SA Chief Executive Lincoln Size said proceeds from the sale of the existing assets will go towards funding the organisation’s new building, which is currently under construction at 202 Greenhill Road Eastwood.
“It’s through the sale of our existing assets, combined with a $10million grant from the State Government and generous support from the South Australian community, that we are able to fund this once in a generation project.”
“Combining cancer research, prevention, information and support services alongside a new benchmark 120-room supportive accommodation facility, the new building will be the state’s home for all South Australians impacted by cancer, giving every South Australian every chance to survive a cancer diagnosis.”
Expressions of interest close at Colliers’ Adelaide office on Thursday 6 May 2021.
For more information on Cancer Council SA’s new, integrated cancer building visit 202greenhill.com.au.