One of Adelaide’s top wedding and event venues, Sfera’s Park Suites and Convention Centre, has been acquired by the City of Tea Tree Gully for $9.6 million after being owned and operated by the Sfera family for three decades.
Over the years this iconic venue has played a significant role in the community, becoming a space where many have experienced special events like conventions, school formals, sporting presentations, weddings, and council citizenship ceremonies. The City of Tea Tree Gully will be committed to preserving the venue’s legacy and ensuring its continued operation as a hub for community and commercial activities.
The facility will remain a multifaceted space offering accommodation, venue hire, function rooms, and convention facilities. All existing bookings will be honoured, and the Council aims to provide a seamless transition for customers, stakeholders, and staff. New customers are also encouraged to explore the venue’s offerings.
“The acquisition will see the services continue as normal in the medium term and the venues will be managed as standalone commercial entities. The expectation is that there will be no negative impacts on rates paid by the community and we will be able to provide valuable services to the community including accommodation for patients and visitors to Modbury Hospital,” said Mayor Marijka Ryan.
“Council ownership ensures that the Community is able to have a say in future of this important asset and avoid a private operator or developer change the property into something that doesn’t compliment the adjoining Civic Park and Council facilities,” shared a council spokesperson.
Michael Sfera, the current General Manager of Sfera’s Park Suites and Convention Centre who orchestrated the significant expansion of the business in 2007 including the addition of accommodation, will work with the Council during the transition period to make sure the high standard of service continues. The Council has highlighted the importance of continuity for the community and recognised the value of retaining Sfera’s existing staff. Randstad Recruitment Company will manage staff operations, a model already in place for other council-run facilities like Waterworld.
The acquisition is expected to bring several benefits to the Modbury area. The venue provides much-needed accommodation for visitors, including medical outpatients at nearby Modbury Hospital. It will also create employment opportunities and traineeships for local young people.
Financial analysis shows that the business can generate enough revenue to cover its operational costs, meaning the acquisition will not result in any increase in council rates.
The Sfera family will continue ownership of the business until March 2025, after which it will be fully integrated into Council operations. The City of Tea Tree Gully has also recently acquired the freehold property at 171 Reservoir Road, with a new owner and business set to commence operations there in early 2025.
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