Axiom makes a play for Adelaide project
THE Adelaide CBD’s north end is set to welcome a new major mixed-use development after Axiom Properties entered into a joint venture agreement with the owners of 62 Currie Street.
The 1,238sqm site will make way for a project comprising hotel and serviced apartments, residential apartments, retail and commercial space and car parking.
Axiom general manager Paul Rouvray said the group would also investigate incorporating a major student accommodation component within the development.
The group will deliver the development and contribute equity of up to $6 million over the next three years to earn a 50% interest in the project, and rights to recurring development management fees.
The site is located close to the Adelaide Oval, the new Royal Adelaide Hospital and Adelaide and University of South Australia medical precincts.Axiom is currently developing the 600-lot Glenlea Residential project in Mount Barker, and is about to begin stage four of Churchill Centre North sub-regional shopping centre in Kilburn.
Australian Property Journal