The $400 million redevelopment of Adelaide’s Central Market Arcade has been approved by South Australia’s State Commission Assessment Panel.
The project, designed by Woods Bagot, will see the existing Adelaide Central Market expanded and restored, bringing back a number of arches that were partially demolished in the 1960s.
The development will also include a 35-storey tower that will house a hotel, office spaces, residences and retail spaces.
The design will integrate the redeveloped arcade with the existing Adelaide Central Market and create a continuous connection between them. The precinct will also include public amenities such as an elevated garden terrace and the Market Hall atrium.
The project was first unveiled in December 2019. At the time, Woods Bagot associate principal and the project’s design director Alex Hall said, “This is a design exploration of the market’s heritage beyond just a facade treatment and makes its brick arches – which have always been emblematic of the market – part of the whole experience.”
The approved design is a direct evolution of the original ideas. “Respecting the grittiness and authentic feel of the Market, and holding close those things locals love about it, the design is the result of great dialogue and collaboration with the Adelaide Central Market Authority, the City of Adelaide, ICD Property and the Office for Design and Architecture SA,” Hall said.
Adelaide Central Market Arcade redevelopment by Woods Bagot.
City of Adelaide lord mayor Sandy Verschoor said the development would be a once in a generation opportunity for an icon of the city.
“The City of Adelaide is proud to announce that the redevelopment of the Central Market Arcade has been approved,” she said. “This investment provides a unique opportunity to build on what people already love about the market district. “We are excited to be part of ICD Property’s Adelaide’s flagship development, Market Square, building on the Central Market’s importance as a South Australian icon, and provide better connections to Victoria Square and the surrounding streets.”
City of Adelaide assumed control of the shopping centre in September 2018 following 50-years of private ownership. ICD Property was appointed the development parter two years later.
“Market Square will be a celebration of the best of South Australia, and feature fresh new retail opportunities,” said ICD Property managing director Matthew Khoo. “The seamless connection and close partnership with the Central Market is a huge asset to this project.”
The project is expected to break ground in the second half of 2021 and is estimated to take three and half years to construct although a builder is yet to be appointed.
