

Adelaide's largest hotel owner acquires prime Rundle Street site
A prime 1,800sqm site on Rundle Street in Adelaide’s popular East End has been acquired off-market by Hines Property for $5.5 million.
The site incorporates 274A and 292 Rundle Street and is situated directly adjacent Palace Nova Cinemas’ EziMax building (east of Cinema Place) and behind existing retail outlets along Rundle Street from T2 to Taj Tandoor.
The site is currently tenanted by Palace Nova Cinemas, which operates six of its 10 Adelaide cinemas from the acquired building. Palace Nova Cinemas will continue to lease the building from Hines Property.
James Hines, Managing Director of Hines Property which is Adelaide’s largest hotel owner, says the property has enormous future development potential due to its size and location.
“Hines Property has invested heavily in the Adelaide market over the past decade and we’re always on the lookout for new opportunities,” said Mr Hines.
“We’re really pleased to secure such a prominent site between Adelaide’s cultural boulevard of North Terrace and the vibrant café and retail strip of Rundle Street.
“Ultimately, the property represented an excellent opportunity for Hines Property to acquire another prime future development site with medium-term holding income.”
The transaction was negotiated off-market between Harmony Property Syndication and Hines Property.
Established in 2003, Hines Property is a privately-owned property group focusing on high-rise residential, office, hotel and mixed-use development projects. It has been responsible for over $350 million worth of high-rise developments in the Adelaide CBD, including three major hotel developments and multiple apartment towers incorporating more than 400 apartments.
Hines Property is also now the largest owner of hotel accommodation in Adelaide, with more than 600 hotel rooms incorporating the upscale Crowne Plaza Adelaide Hotel and the premium economy Ibis Adelaide Hotel. For more information, visit www.hinesproperty.com.au.
FURTHER INFORMATION: Please contact
James Hines on 0418 829 877 or jdhines@hinesproperty.com.au
ISSUED BY HUGHES PUBLIC RELATIONS: Please contact
Tim Hughes on 0417 788 891 or tim@hughespr.com.au
Recent News
- Blog: Let’s get (a)political: all you need to know about elections and public relations
- The world’s most valuable dog toy revealed in the lead up to Guide Dogs Day
- Skytrax names Adelaide as best regional airport in Australia & Pacific region
- Indonesia AirAsia To Touch Down in Adelaide for the first time in June Fares on sale today starting from just AUD$199*!
- ‘Sleep hygiene’ stocktake critical for women in daylight savings change over
- United Airlines welcomed for South Australia’s first ever direct flights to US
- West Beach Trust appoints Elinor Walker to Board
- Local student Emaan Dewanyang wins Yugo Accommodation Support Scholarship with RMIT
- Blog: Why do so many companies fail the pub test in a crisis?
- Congratulations to our graduating and retiring Guide Dogs… and meet our new puppies!
- CH4 Global named one of TIME Magazine’s Top GreenTech Companies
- Flu cases in SA already up by 550 – experts warn get vaxed now
- Adelaide’s first purpose-built, affordable, long-term rental housing for women opens
- The world’s seaweed industry focuses on Adelaide at Seagriculture
- New Mount Barker Residential Development: A Feast for the Senses
- Blog: Be prepared - and be credible
- Visa Cash App Racing Bulls Announces Partnership with the Exclusive Student Housing Marketplace, Student.com
- CH4 Global and Mitsubishi Corporation partner to accelerate adoption of methane-reducing cattle feed supplement in Asia-Pacific markets
- Opinion Editorial by Brenton Cox, Adelaide Airport Managing Director - The Advertiser’s Future SA Campaign
- Adelaide’s most luxurious aged care site opens in an Australian first