[U/C] Central Market Arcade Redevelopment | 130m | 39 levels

[VinyTapestry849]

Could someone please post: https://www.adelaidenow.com.au/subscrib ... nt-2-SCORE

Market Square secures SA government department tenancies
Almost 1000 government workers will relocate to the $400m Market Square development following a major leasing deal between developers and the state government.

Almost 1000 government workers will relocate to the $400m Market Square development once it’s completed, following a major leasing deal between the project’s developers and the state government. Three government agencies – the Department for State Development, Department for Energy and Mining and the SACE Board – will occupy four levels of the office tower under a 10-year lease.

Around 950 employees will move into 10,050sq m of space in the 22,500sq m office building at the southern end of the Market Square development near Gouger St.
They’ll join anchor tenant, law firm Thomson Geer, which recently signed a 10-year lease for the top level of the nine-storey building.

The state government deal is a major coup for developers – a joint venture between Melbourne group ICD Property and the Adelaide City Council – following a series of delays and concerns over the project’s finances. ICD Property deputy managing director Sal Quah said just three of the eight levels of office space remained available to potential tenants, with all other floors either leased or under negotiation.

“The interest in our commercial office tower at Market Square has been incredible and to be able to attract quality tenants like the South Australian government and Thomson Geer is testament to the project’s vision,” he said.

“The Adelaide Central Market is an iconic location within the heart of the city and the Market Square precinct is going to be an inspiring place to work, offering unparalleled convenience, vibrant surroundings and a unique blend of culture and community for the SA government workforce.”

The developers last week opened expressions of interest for food, retail and hospitality tenants interested in moving into Market Square’s new grand market hall. Up to 53 new tenancies will be available on the ground floor after construction is completed in early 2026. The new tenancies will comprise a combination of traditional market-style stalls, such as those which already exist in the Central Market, kiosks suitable for food and perimeter tenancies offering more traditional dining, retail and hospitality.

The broader Market Square development will feature a 248-room hotel, 234 apartments, and a 11,000sq m-plus retail precinct. Treehouse Hotels – part of the luxury SH Hotels & Resorts group – has been selected to operate the hotel component of the development, while Finnish-style childcare operator HEI Schools will operate a 66-place childcare centre under a 10-year lease.

Early construction work at the Central Market Arcade site has been slowly progressing since last year. Last month Victorian-based worker entitlement scheme Incolink, which has been pushing into the South Australian market, confirmed it was providing $15m in funding for the project to fast-track construction.

Construction was previously hit by a series of delays, due in part to design changes, uncertainty around the project’s finances and an asbestos find late last year. Lord Mayor Jane Lomax-Smith said securing the lease agreement with the state government instilled confidence in the project.

“Hot on the heels of the announcement that Thomson Geer will move into Market Square as anchor tenant, it’s welcome news that these South Australian government departments will take up four floors of the office tower,” she said.
“It demonstrates the state government’s confidence in this city-shaping project.”

[abc]

I really don't see the point of moving a whole bunch of government departments into the market precinct. This wasn't the original vision.

[Patrick_27]

Whilst holistically one could argue this is a great outcome because it shows this building (that exist above the public realm) won't be made up entirely of private enterprise, but it's certainly not representative of the ACC's claims that they had a lot of private enterprise interested in leasing space within. Further high-lights the need for our state government to consider following the QLD's governments' strategy of locating all government agencies within one CBD building, or even a precinct.

But any who, I stand by what I have always said with regards to this development; Le Cordon Bleu / the Liberal's mooted SA Hospitality and Tourism school would have been ideal for one of these buildings. Imagine a culinary school atop one of the Australia's (and perhaps the world's) best produce markets, a real game changer and lure for Adelaide.

[Mpol02]

Honestly couldn’t agree more it feels like a missed opportunity

[timtam20292]

Third crane is on its way up.

[Prodical]

From today

[Ben]

Pic of the 4th crane base. I’ve never seen three cranes so close to one another in Adelaide. It seems counter productive but what would I know

[abc]

Pic of the 4th crane base. I’ve never seen three cranes so close to one another in Adelaide. It seems counter productive but what would I know

ASER project

[Smithy84]

Don’t forget who is running this site…

[Ben]

Pic of the 4th crane base. I’ve never seen three cranes so close to one another in Adelaide. It seems counter productive but what would I know

ASER project

I wasn’t alive to see that.

[[Shuz]]

Pic of the 4th crane base. I’ve never seen three cranes so close to one another in Adelaide. It seems counter productive but what would I know

NRAH build? Adelaide Oval? Both sites had a shit ton of cranes.

[Pikey]

Pic of the 4th crane base. I’ve never seen three cranes so close to one another in Adelaide. It seems counter productive but what would I know

That could be the base of a concrete pump too. I've seen them use similar footings in the past.

[Ben]

Pic of the 4th crane base. I’ve never seen three cranes so close to one another in Adelaide. It seems counter productive but what would I know

NRAH build? Adelaide Oval? Both sites had a shit ton of cranes.

Yeh but not within 10 metres of each other. They’re very close.

[Waewick]

Looking forward to seeing this go up, along with the one across the road it will really change the look down Grote St

[EBG]

Dont for get the REM Centre (Myer) with 8 cranes, or FMC back in the 70's. Or for those who like lots of cranes all crammed into one site check out picture12/6/ 2022 new hospital north Footsgray Melbourne with 10 cranes.