Current status

The City of Adelaide and ICD Property confirm that on-site works for the redevelopment of the Central Market Arcade will commence June 2022. This early advice reflects our commitment to provide certainty and early notice for traders and precinct stakeholders.

ICD Property will provide advanced notices to undertake some enabling works before June 2022, while the Central Market Arcade operates.

ICD Property remains committed to the redevelopment and has made significant progress over recent months. This includes the recent launch of the Market Square Display Suite at 211 Victoria Square with more than 80% of the residences sold to the waitlist prior to the launch.

There has been positive progress across other aspects of the project including activities to secure office tenants as well as hotel and childcare operators. In addition, the tender for the early involvement of a construction contractor is underway.

The above timeframe will enable Central Market Arcade traders to trade throughout the Christmas and Easter trading periods.

The City of Adelaide and ICD Property remain committed to minimising construction impact. In this regard, a construction contractor will be appointed to undertake appropriate actions supporting the continued operation of the Adelaide Central Market and market district during the course of the construction.

The project is progressing ahead positively with a number of works delivered to date including but not limited to:

• Successful lodgement of planning application in November 2020 to South Australia’s State Commission Assessment Panel (SCAP).
• Development Consent approved by SCAP in January 2021.
• Advancing the project’s concept design.
• Engaging commercial leasing agents to secure tenants for the project’s 15,000m2 of office space.
• Ongoing conversations with various educational institutes, Government bodies, and private businesses regarding tenancies for the 15,000m2 office space.
• Preparing to launch sales for the project’s residential components.
• Leasing a display suite intended to facilitate sales of the project’s residential components.

ICD Property and the City of Adelaide are committed to addressing concerns relating to precinct impacts, particularly from demolition. In this regard, the City of Adelaide and ICD Property confirm that the existing Central Market Arcade will continue to operate over the 2021 Christmas period into early 2022.

This update will enable traders and precinct stakeholders to plan for what is the busiest time in the retail calendar.

The Development Application has been considered and approved by the State Commission Assessment Panel (SCAP) on 27 January 2021. The Central Market Arcade Redevelopment will see an enhanced and expanded Central Market and will also include residential apartments, hotel, office accommodation and retail owned by ICD Property which is to be named Market Square. Construction commencement is scheduled for 2021.

Note: Project Update 3 June 2021, confirming construction commencement in early 2022 minimising construction impacts during the upcoming Christmas period.