Newmarket Hotel site back on market with new sales push

The selling agents for a prime CBD gateway development site of 4060sqm home to one of Adelaide’s most recognisable buildings have called in the assistance of another agency, as the property re-hit the market this week with a collaborative sales approach. Previously on the market last year with Jordan Schmidt, Josef Dickinson and Robert Papaleo and Justin Hazell of Colliers Adelaide, the historic Newmarket Hotel site at 1 North Tce, on the corner of North Tce and West Tce was updated on realcommercial.com.au this week to list Jordan Schmidt and Justin Hazell and include CBRE SA’s Oliver Grivell and Ned Looker as co-agents. The sellers, owners Australian Unity, had plans to develop the site into a high-rise medical development, yet sought to offload it two years after acquiring it following the shelving of that plan. 1 North Tce, Adelaide. Picture: Supplied by Colliers The health, wealth and care services giant acquired the site from Singaporean-backed One North Terrace (Aust) in 2023, with plans for a development to capitalise on the city’s burgeoning biomedical precinct around the Royal Adelaide Hospital. The near-3000sq m site includes the former HQ Complex nightclub, and comes wi...