Buuuump:
Le Cordon Bleu moving into North Terrace in a $260 million development
Cameron England, The Advertiser
August 15, 2017 12:00am
LE Cordon Bleu will move its headquarters into the CBD as part of a $260 million redevelopment of 200 North Terrace, which has been submitted to the Development Assessment Commission.
The project is a joint venture between the culinary school and Adelaide developer Commercial & General. A major resources company is also rumoured to be in the mix as a cornerstone tenant.
The $260 million redevelopment would create 26,000m2 of office and 4000m2 of retail space across 18 storeys, with a targeted 5-star Green Star certification.
Le Cordon Bleu is currently based at Regency Park, but Le Cordon Bleu Australia director Nick Gurner said it was time to come into the city.
“Le Cordon Bleu’s Australian academic headquarters have been based in Adelaide since 1992, so it is fitting that we now look to a new, outstanding facility for our expanding operations,” he said.
“This building and its location will offer first-class platform from which to further grow our business and further contribute to the South Australian economy.”
C&G chief executive Trevor Cooke said the revitalisation of North Terrace, including the $60 million tram extension, was key to the project.
“The State Government’s investment in the extension of the tram line is designed as a stimulus for development along North Terrace, and we’re responding to that,” Mr Cooke said.
“We have taken a careful and methodical approach to the design, and believe this will create the premier workplace, retail and lifestyle address on North Terrace.
“We’re currently negotiating with blue-chip organisations about taking cornerstone tenancies and we’re confident that we will be in a position to start construction early next year.”
Once approved, construction would be complete by mid-2020.
C & G is also planning to develop the Old Royal Adelaide Hospital site with joint venture partner John Holland.
Exclusive negotiations between the Government and the consortium, named last October as the preferred proponents, expired on June 30. The $1 billion proposal includes a luxury hotel, commercial complex and apartments.
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