The merger of two bowling clubs makes way for a new retirement living development in Adelaide.
The former Underdale & Airport Bowling Club site in Adelaide is set to become a retirement village after it was purchased by a private developer for $2.975 million.
The property is located at 189 Holbrooks Road, Underdale. The Underdale & Airport Bowling Club was established after the First World War when members were gifted land by a local winery.
After 12 months of negotiations, the club last year merged with nearby Hindmarsh Bowling Club to create a new club known as Torrensville Bowling Club. Torrensville Bowling Club will use the sale proceeds to build Adelaide’s first all-weather green at its Torrensville site, said selling agent David Ente, Director of Raine & Horne Commercial SA. The $1m structure would be the first of its kind metro Adelaide.
"Building all-weather surfaces will allow for bowling throughout the year and that will hopefully lead to an increase in participation and make the new club viable," said Underdale Airport president Peter Ward. "Both clubs are in decline due to an ageing membership and I doubt we would survive beyond the next three years if we don’t attempt to move forward."
The Underdale site is well suited to a retirement village development because it is located conveniently between the Adelaide CBD and the beach, and is also close to the airport and major shopping precincts. Underdale is serviced by bus, which can move commuters quickly to the CBD and the nearby beaches.
The new owner of the site is Karidis Corporation Ltd, a privately owned South Australian company that has 8 retirement villages and is one of the state's largest property development companies.
This article first appeared on RetireNCare, a website dedicated to news about the retirement and aged care industries in Australia.