Frequently asked questions - Central Market Arcade Redevelopment

The Central Market Arcade Redevelopment will be a flagship mixed-use development of national significance.

The Central Market Arcade is located adjacent to the Adelaide Central Market, Victoria Square, and the Sir Samuel Way Building law courts.

Central market arcade redevelopment site

The iconic Adelaide Central Market will remain unchanged. This image shows the division of the arcade and market.

The Adelaide Central Market will trade as normal during the neighbouring Central Market Arcade’s redevelopment.

The $400 million redevelopment of the Central Market Arcade will be a catalytic investment in the city creating a new social and commercial heart operating 18 hours a day/ 7 days a week.

The existing Arcade represents an under-utilisation of the land’s potential, characterised by a dated appearance, ageing infrastructure, inactive frontages and a lack of connections through the site.

The redevelopment will support and grow what people already love about the market district securing the future of the district and the neighbouring Adelaide Central Market as a world class fresh food destination. The redevelopment will foster a local, diverse and multicultural place responding to changing consumer needs.

When complete the development is projected to attract an additional one million people per year to the district, in addition to the nine million people currently visiting.

The Adelaide Central Market does not form part of the redevelopment.

The development application for the Central Market Arcade Redevelopment was lodged in October 2020 and has been subsequently considered and approved by the State Commission Assessment Panel (SCAP) on 27 January 2021.

The redevelopment will be a flagship mixed-use development of national significance, promoting the market district as the premier precinct showcasing the very best of South Australian food, produce and wine.

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

There will be over 11,000sqm of retail space for market activities, speciality retail and a supermarket tenancy with associated car parking.

Council will retain ownership of 6,000sqm of net lettable area of retail along with 260 public car park spaces and basement loading/ servicing.

Additional features of the redevelopment include:

  • A new north/ south pedestrian laneway through the site connecting Grote to Gouger Streets open 24 hours/ seven days a week, supporting public art and laneway culture.
  • An east/ west link connecting Victoria Square through the site to the Adelaide Central Market.
  • A seamless transition between the redeveloped Arcade and the Adelaide Central Market.
  • A Market Hall providing volume and natural light supporting events, gatherings, music, food education and demonstrations.
  • Distinctive red brick arches inspired by the historic Adelaide Central Market facades.
  • Integration of 15% affordable housing.
  • A rooftop podium supporting public access, childcare and food and beverage.

The concept design aligns with Council’s project guiding principles providing a distinctly local feel, informed by the changing needs of the people who shop, live, work and visit the market district.

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

Located adjacent to the iconic Adelaide Central Market, Market Square is a joint venture project between ICD Property and the City of Adelaide. A catalytic investment in the city, the development will create a new social and commercial hub that will preserve and enhance the Central Market, and secure the future of the market district for future generations.

Find out more at www.marketsquareadelaide.com.au

No. The Adelaide Central Market does not form part of the redevelopment. Market Square will aim to achieve a seamless transition to the adjoining Adelaide Central Market.

See below the footprint of the Central Market Arcade (orange dot) in relation to the Adelaide Central Market (white stripe).

Arcade aerial zones

The authenticity of the Adelaide Central Market will be retained. The new Market Square will be seamlessly connected to the Adelaide Central Market and incorporate distinctive red brick arches inspired by the historic Adelaide Central Market facades on Grote Street

Market Square will also encompass an enhanced and expanded Central Market with complementary retail offer to help grow the Adelaide Central Market and market district as a world class fresh food destination.

The retail within the redevelopment will offer a unique and exceptional food and wine offer reflecting the best of South Australia, complementary to the Adelaide Central Market. The retail will focus on local and unique traders and produce operating 18 hours a day/ 7 days a week.

The retail mix will include:

  • A showcase of food and wine with the opportunity to value add to produce ie. pre-packaged, ready to eat meals and dining options;
  • Day to day retail services;
  • Wine, craft beers and bars supporting a night-time economy;
  • A range of food and beverage facilities (including restaurants and cafes) spanning from accessible/affordable options to high end dining experiences.
  • Supporting speciality retail ie. homeware, kitchenware, leisure, health and wellbeing.

The retail mix will be further developed during the next stage of the project.

The City of Adelaide has entered into a partnership with ICD Property to redevelop the Central Market Arcade site which will incorporate an enhanced and expanded Central Market along with residential apartments, hotel, office accommodation and retail owned by ICD Property which is to be named Market Square.

ICD Property is a Melbourne based developer delivering large scale landmark projects across Australia and New Zealand.

In the past 10 years ICD has delivered over 1,000 residences and various innovative retail and commercial concepts. ICD Property is recognised for award winning design, collaboration and innovation.

ICD Property will work with Australian property development firm Sinclair Brook and Adelaide founded architecture firm Woods Bagot.

Ground-breaking is currently forecast for early 2022, subject to securing all statutory approvals. The project is expected to take three and half years to complete.

ICD Property and the City of Adelaide will work closely with key stakeholders as it progresses the design, pre-leasing and construction planning.

The construction period for the City of Adelaide’s returnable works comprising 6,000m2 net lettable area of retail, 260 public car park spaces and basement loading/ servicing is estimated at 24-30 months.

The construction period for the whole development, including the City of Adelaide’s returnable works and tower elements, is estimated at three and a half years subject to the construction approach.

Construction is anticipated to commence in early 2022. Central Market Arcade trader leases are subject to a 6 month redevelopment clause notifying traders that they need to vacate their tenancy within 6 months of notification.

The City of Adelaide aspires for the redevelopment to be a case study in best practice project delivery with measures to mitigate construction impacts. The City of Adelaide will continue to keep the existing Central Market Arcade activated head of its redevelopment providing ongoing support through centre marketing and promotional activities, and by facilitating discussions with commercial realtors to identify alternate premises for traders wishing to continue their business beyond lease expiry.

The City of Adelaide will also continue to meet regularly with Arcade traders and their representative to discuss progress on the redevelopment.

The City of Adelaide will provide support to help traders make informed decisions around when, where and how they might relocate their business within the city.

Assistance will be available in areas such as insights on the economic drivers of various precincts across the city, information on property market to inform alternative locations, dedicated site selection support and more.

City of Adelaide has also partnered with Business SA to provide traders with a range of specialised free services. This support is designed to support them adapt, grow, and thrive and will be available up until 30 June 2022.

Business SA will also offer assistance in areas such as accounting and taxation Information, digital capability coaching, grants and tenders support and more.

Learn more 

Council aspires that the redevelopment act as a case study in best practice project delivery.

The construction methodology will be finalised following the appointment of a builder. At this stage, ICD Property anticipates that the site will be surrounded by hoardings to reduce impacts associated with noise and dust etc.

Traffic management and street hoardings will be erected to address safety needs at all times, however pedestrian and loading access will be accommodated to assist with business continuity.

Council will also consider replacement car parking including via the former bus station site and Grote Street car park. Additional wayfinding, customer signage and marketing will be implemented to assist the precinct.

Consistent with Council’s guiding principles, ICD Property is committed to adopting the State Government’s Affordable Housing Policy.

The Project Development Agreement between Council and ICD Property incorporates a commitment by ICD Property to follow the State’s Affordable Housing Policy allowing for the provision of 15% affordable housing within the apartment mix subject to demand.

The UPark Central Market has approximately 1,000 car parking spaces available. During construction, 260 of these car parks will be temporarily removed and then reinstated upon completion. Other components of the development will have ancillary car parking to ensure there is enough parking for the precinct.

UPark Grote Street (opposite Chinatown) has ample additional car parking capacity available for shoppers visiting the market district during construction.

Council will also investigate providing additional parking during the build via the former bus station site and adjacent Adelaide Central Bus Station/UPark Grote Street building.

The redevelopment provides a main tower to Grote Street for hotel and residential use with an anticipated height of 37 storeys (including podium). It is anticipated that the commercial office towers to Gouger Street will have a height of 13 storeys (including podium).

The site is located within the Capital City Zone and Main Street Policy Area. There is no overall height imposed by the zone or policy area under the Adelaide (City) Development Plan with building heights only being subject to airport operations.

The development meets Council’s project guiding principles, being respectful to its neighbouring buildings including the Adelaide Central Market. This includes meeting setback requirements to expose the Adelaide Central Market tower and avoiding overshadowing to Gouger Street.

Council has considered the ideas and aspirations from Our Market District – the right ingredients for the future which was endorsed by Council in 2015. Our Market District was the subject of extensive stakeholder and community consultation involving some 500 people proposing a redevelopment of the Central Market Arcade.

The project has been further informed by community consultation undertaken by Council in early 2017 with respect to the revocation of the land from its Community Land status. The consultation included on-site engagement with public notices and social media promoting the consultation to over 100,000 people.

Engagement with stakeholders and community has been ongoing and will continue over the life of the project.

Prior to appointing ICD Property, the City of Adelaide considered the ideas and aspirations from Our Market District – the right ingredients for the future which was endorsed by Council in 2015. 

Our Market District was the subject of extensive stakeholder and community consultation involving some 500 people proposing a redevelopment of the Central Market Arcade. 

The project has been further informed by community consultation undertaken by City of Adelaide in early 2017 with respect to the revocation of the land from its Community Land status. The consultation included on-site engagement with public notices and social media promoting the consultation to over 100,000 people. 

The consultation undertaken has assisted to inform the project design.

ICD Property and the City of Adelaide will continue to engage with stakeholders and community over the life of the project.

Consistent with its guiding principles, Council will own the returnable works comprising 6,000sqm of retail, 260 public car parks and basement loading creating enhanced public amenities and a valuable asset for the city.

The air rights will be transferred with ancillary areas enabling ICD Property to build the other components of the redevelopment i.e. office, hotel and residential with car parking.

The City of Adelaide and partners will continue to engage with stakeholders and the community over the life of the project.

Information for interested investors, retail or commercial tenants, or future home buyers can also be found at www.marketsquareadelaide.com.au