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Central Market Arcade Redevelopment

January 2021

 

The City of Adelaide and ICD Property are pleased to announce that the development application for the Central Market Arcade Redevelopment was considered and approved by the State Commission Assessment Panel (SCAP) on 27 January 2021.

The Central Market Arcade Redevelopment which will see an enhanced and expanded Central Market will also include residential apartments, hotel, office accommodation and retail owned by ICD Property which is to be named Market Square.

The redevelopment located adjacent the Central Market is a partnership between ICD Property and the City of Adelaide providing a catalytic investment in the city.  Market Square will create a new social and commercial heart that will preserve and enhance the Central Market and secure the future of the Market District for future generations.

The City of Adelaide will retain ownership of 6,000m2 of retail along with 260 public car parks and below ground loading/ servicing.

Market Square and the expanded market experience will be an inviting place for people to gather, eat, live and work, and will offer unparalleled and new retail opportunities, showcasing the best of South Australian markers and producers.

The new precinct will set a benchmark for design in South Australia incorporating unique features including an elevated garden terrace and Market Hall gathering space which will transform the way we move around and connect with each other.

Construction is scheduled to begin in 2022, with the construction period for the whole development estimated to take three and a half years.

ICD Property and the City of Adelaide will work closely with key stakeholders as it progresses the design, pre-leasing and construction planning.  Importantly, ICD Property and the City of Adelaide remain committed to minimising the impact on traders and visitors during construction.

For more information on the project please visit cityofadelaide.com.au/cmar