The freehold going concern of one of Adelaide’s leading event centres has come to market. On offer for the first time in over 20 years, Sfera’s Park Suites & Convention Centre presents to market an outstanding opportunity to acquire an esteemed multi-purpose venue and landmark real estate located in the north-eastern metropolitan suburb of Modbury, approximately 13kms from Adelaide’s CBD. Sfera’s Park Suites & Convention Centre is being offered exclusively for sale by JLL’s Nick MacFie, Will Connolly and Ben Parkinson via national Expressions of Interest.

Occupying a commanding 5,725sqm site on the picturesque Civic Park, the venue has recently undergone renovations throughout and features five state-of-the-art function and event rooms, catering for up to 460 seated and 950 people cocktail style, with eight breakout areas, extensive function space, food & beverage facilities, plus 22 luxuriously appointed large suites.

Nick MacFie, Vice President, JLL Hotels & Hospitality Group, anticipates strong interest in the property, given its current infrastructure and genuine future upside. “With 22 generously appointed guest rooms, Sfera’s has the ability to cater to the hugely popular conference and events business within Sfera’s, whilst also servicing corporates and interstate leisure travel. The asset also provides genuine scope to add further guest rooms to the inventory (STCA), which no doubt will appeal to various buyer groups looking to add value to the property and service demand”, he commented.

Modbury is the major business district of the north-east with strong job growth and low unemployment rates. The property benefits from direct access to the Adelaide O-Bahn, a dedicated busway which links Modbury to Adelaide in under 20 minutes, and is surrounded by key amenities which include Westfield Tea Tree Plaza and its outdoor dining precinct, the ever popular Civic Park and the Modbury Hospital.

The City of Adelaide has been abuzz with recent events such as the AFL’s Gather Round and LIV Golf Tournament attracting thousands of tourists both nationally and abroad, with Will Connolly, Senior Vice President, JLL Hotels & Hospitality Group commenting, “the past few days have proven that the City of Adelaide can cater to both national and world recognised events and do so in an incredibly refined fashion. This will no doubt have a positive effect on how national hospitality operators view Adelaide as part of their acquisition strategy going forward. Sfera’s comes to market at an opportune time with South Australia firmly in the spotlight”, he concluded.

Ben Parkinson, JLL’s Managing Director of South Australia, expects significant interest from a wide range of alternative markets; “Given the highly visible aspect and parkside location, we are expecting significant interest from those looking to capitalise on the Build to Rent (BTR) sector or to address the housing shortage in South Australia with residential vacancy currently running at 0.5%”

“Sites like this rarely come up for sale in locations that offer amenity, outlook and shopping convenience central to the catchment. For this reason, we expect interest from residential and commercial developers, the BTR sector and faith-based organisations”, he concluded.

Sfera’s Park Suites & Convention Centre is available via national Expressions of Interest closing 5:00pm on Monday 22 May 2023.

To request a copy of the Information Memorandum please contact one of the marketing agents JLL’s Nick MacFie, Will Connolly and Ben Parkinson via the contact details below.