The $400 million Market Square development will be a catalyst securing the future of the market district, incorporating an expansion of the Adelaide Central Market that you know and love.
In 2015 Council’s strategy ‘Our Market District – The Right Ingredients for the Future’, being the subject of extensive community consultation, identified a redevelopment of the Central Market Arcade (located to the east of the Adelaide Central Market and spanning between Grote and Gouger Streets). In late 2018, the Central Market Arcade was returned to the City of Adelaide and presented a once-in-a-lifetime redevelopment opportunity.
A joint venture between the City of Adelaide and ICD Property, the redevelopment will incorporate an expansion of the Adelaide Central Market together with an all-electric commercial office tower, retail, on-site childcare, new residences, a premium hotel and activated public spaces known as Market Square. The existing Adelaide Central Market will continue to trade as always during the course of the redevelopment.
The Market Square development will deliver a flagship mixed-use precinct of national significance, creating a new social and commercial hub for the city.
Market Square development snapshot
- A world-class development setting a new benchmark for design in South Australia.
- Expanded Adelaide Central Market supporting specialty food and beverage, fresh food, artisan producers, uniquely SA offerings and the best shopping and eating experiences.
- In addition to the retail expansion the City of Adelaide will retain 260 public car parks and basement loading/servicing.
- A new supermarket at Level 1 together with everyday retail services and specialist retail offerings.
- Market Hall supporting events and activities.
- New connections between Grote and Gouger Streets including an urban laneway supporting laneway culture and art.
- East/west link connecting Victoria Square and the Adelaide Central Market.
- 3,000m2 public rooftop green space supporting a range of uses and activities.
- 20,000m2 commercial office space together with a premium hotel offering 248 rooms, 231 luxury residences and childcare.
- Site preparatory works to be undertaken until May 2023, main works demolition commencing June 2023.
- Construction completion estimated early 2026.
- Generating an overall boost of $135 million to the South Australian economy.
- Creating 1,000+ new jobs during construction.
- More than an additional 1 million visitors per annum resulting in a projected 10 million visitors to the market district each year.
- Commercial office to support 750+ employees.
A major focus for ICD Property and the project team will be to minimise construction impacts and maintain business as usual for the Adelaide Central Market and market precinct throughout construction. The City of Adelaide has implemented measures to support the precinct during construction through establishment of UPark Andrew, new on-street loading and precinct wayfinding.
Current project status and updates
Project builder, Multiplex, are undertaking bulk excavation to the south of the Market Square site from Monday 8 April 2024, as part of the ongoing site works. During this time, Multiplex will also mobilise piling plant and equipment.
On Monday 15 April 2024, planned piling works will also commence.
During this period, access to the Adelaide Central Market will be partially restricted for community safety. Council is working closely with Multiplex, Adelaide Central Market Authority and UPark to keep businesses running as usual during this time.
There will be traffic flow changes at UPark Central Market between Monday 15 April 2024 to Monday 22 April 2024, resulting in temporary changes to navigating between Level 1 and 2. Temporary fencing, wayfinding signage and on-site personnel will be in place to ensure the car park continues to operate as smoothly as possible and access into the Central Market is always maintained, including pedestrian access and loading services.
Other short-term exclusions zones will be temporarily in place at ground level at the Market’s Eastern Roadway Grote Street and Gouger Street entrances.
Demolition and construction works commenced on 1 June 2023. To enable the works, changes within the site and surrounding area have been undertaken:
UPark Central Market Changes
Level 1 car parking above the Central Market Arcade has been vacated for the redevelopment. Changes within the car park include:
- Changes to direction of the car park ramps between levels 1 and 2.
- Modifications to the internal circulation of the car park to support vehicle movement.
- Site hoardings at level 1 to secure the site.
The above changes have been supported by:
- Directional signage.
- Reduction of long-term parking spaces to maximise parking for market shoppers.
- Alternate parking at UPark Andrew and Grote.
- An offer of 3 hours free parking on Saturdays at UPark Andrew and Grote, available through ticket validation or via Market Lovers UPark Plus card on 27 May to 1 July.
UPark Central Market will continue to operate with no change to entry and exit points at Grote and Gouger Streets.
For more information about UPark prices and locations.
Grote and Gouger Street Changes
- Hoardings and concrete barriers have been established in front of the site at Grote and Gouger Streets. This will remain for the duration of the project to support builder loading zones while enabling pedestrian movement along each street.
- The trader loading zone has been relocated west along Grote Street adjacent Market Plaza for the duration of the project. This loading area will operate every day except between 2:00 pm to 7:00 pm Monday to Friday.
The project will be completed in February 2026. The City of Adelaide and ICD Property, with its building partner, Multiplex will continue to work closely with key stakeholders during the redevelopment to mitigate precinct impacts.
While the works are happening, the Central Market you know and love will continue to operate as usual, trading Tuesday to Saturday throughout the construction.
On 22 May 2023, Multiplex will take full possession of the Central Market Arcade to establish the site and commence major demolition works.
This significant milestone in the project will result in the following UPark Central Market modifications and changes at Grote and Gouger Streets.
UPark Central Market Changes
Level 1 car parking above the Central Market Arcade will be vacated for the redevelopment and returned upon completion of Market Square.
On Sunday 21 May the following internal changes will be made:
- Changes to direction of the car park ramps between levels 1 and 2.
- Modifications to internal circulation of the car park to support vehicle movement
- Installation of site hoardings at level 1 to secure the Central Market Arcade portion of the car park for its upcoming demolition.
The modifications will be completed for operation on 22 May and will be supported by:
- On-site UPark personnel at peak periods for the first week of operation.
- Directional signage to assist customers with the revised UPark layout.
- Reduction in long-term parking spaces to maximise parking for market shoppers.
- Alternate parking at UPark Andrew and Grote.
- An offer of 3 hours free parking on Saturdays at UPark Andrew and Grote, available through ticket validation or via Market Lovers UPark Plus card on 27 May to 1 July.
UPark Central Market will continue to operate with no change to entry and exit points at Grote and Gouger Streets.
For more information about UPark prices and locations.
Works and changes at Grote and Gouger Street Site Establishment – From Monday 22 May
Works and changes, supported by traffic control and precinct signage, will be made at Grote and Gouger Streets from 22 May including:
- Installation of hoardings and concrete barriers in front of the Central Market Arcade at both street frontages to create builder loading zones.
- Closure of the Grote and Gouger Street footpath in front of the Central Market Arcade for up to two weeks to support site establishment (with the Grote Street footpath to open on Friday and Saturday)
- Vehicular traffic control at Gouger Street during the week commencing 22 May to enable the construction of the builder loading zone
- Relocation of trader loading zone in front of the Central Market Arcade to further west along Grote Street adjacent to Market Plaza. This loading area will operate every day except between 2pm to 7pm Monday to Friday.
Following establishment of the builder loading zones, traffic control measures, including on-site personnel, will be in place to ensure the safe movement of people walking/wheeling, cycling and driving to access and enjoy the Adelaide Central Market and Market District.
ICD, Multiplex and the City of Adelaide will work to mitigate precinct impacts and keep precinct stakeholders informed throughout all stages of Market Square construction. The Market Square project is programmed for completion in February 2026.
ICD Property through its builder, Multiplex, commenced on-site works in June 2022 with demolition of the eastern portion of the site together with service relocations and interim access arrangements for the Sir Samuel Way building.
Site preparatory works have continued to be implemented to separate the Central Market Arcade and Central Market buildings ahead of staged demolition. Works undertaken have sought to carefully mitigate the impact on the Central Market and market district, with evasive works deferred over the festive season to ensure that market traders could best serve customers during the market’s busiest weeks.
The construction market is facing unprecedented economic challenges, including cost escalation, supply chain and labour shortages, and the Market Square project is not immune to that. The project will require a staged approach to site preparation and demolition while balancing the needs of the Central Market and the market district.
Significant efforts have been made by ICD Property and the City of Adelaide to manage cost pressures, working with stakeholders and contractors to enable major works to commence. In this regard, ICD Property and the City of Adelaide remain fully committed to the delivery of Market Square and the Central Market expansion with major works to commence in June 2023.
ICD Property has confirmed the following project program for future works including:
- February to May 2023: Site preparatory works including soft strip demolition, building remediation and service disconnections.
- June 2023: Installation of permanent hoardings at level one and across the site boundary.
- June to September 2023: Main works demolition.
- October 2023 to February 2024: Piling and basement excavation.
- March 2024 to February 2026: Main construction works.
Necessary statutory approvals will be required for the purpose of the above program.
As a result of the design process, design changes have been made including by way of:
- An expanded basement, within the site footprint, to accommodate increased loading zones and residential car parking improving car park access (with residential parking previously contained within the podium at levels 3 and 4).
- A lowering of the podium rooftop space from level 5 to level 4.
- An increase in the Gouger Street tower space to offer some 20,000m2 of commercial office.
- An additional 21 apartments (resulting in 231 apartments) within the Grote Street tower with a two-storey increase.
- Introduction of a wellness space and hotel back of house and amenities at levels 2 and 3 to further activate the Market Hall.
- The introduction of retail balconies to the Grote Street façade, providing an expansion of the red brick façade.
Design development has also ensured a Market expansion which is seamless to the existing Central Market and future proofed with Council’s investment delivering a valuable asset for the community.
ICD Property, its building partner, Multiplex, and the City of Adelaide will continue to work closely with key stakeholders during the redevelopment and will work to mitigate precinct impacts.
Development partner and project team
The City of Adelaide has entered into a partnership to develop this cornerstone site in the market district with leading developer ICD Property, a leading property developer with landmark property developments across Australia. The project team to realise the $400m redevelopment include:
Sinclair Brook Group is a boutique property company focused on creating innovative spaces to optimise value and returns for their investors and development partners.
Woods Bagot founded in Adelaide in 1869 is a global architecture studio founded by visionaries who were passionate about designing for the future growth of their city and its people.
Mott MacDonald are a global, employee-owned management, engineering and development consultancy delivering innovation to improve society by considering social outcomes.
Frequently asked questions
Once complete, Market Square will comprise of an all-electric commercial office tower, additional retail, on-site childcare, new residences, a premium hotel and activated public spaces.
The development will include an expanded Adelaide Central Market, doubling its current size. Just as it is now, the expanded Adelaide Central Market will be all about specialty food and beverage, fresh food, artisan producers, uniquely SA offerings and the best shopping and eating experiences.
As part of the redevelopment, the City of Adelaide will retain the ground floor retail, together with 260 public car parks and basement loading, creating enhanced public amenities and a valuable asset for the community.
The ground floor retail will be operated by the Adelaide Central Market Authority and will provide for an expanded Adelaide Central Market, doubling its current size.
The air rights will be transferred to ICD Property enabling the developer to build the other components of the redevelopment i.e. office, hotel, residential, together with retail, ancillary uses and car parking.
The Adelaide Central Market will continue to trade as always, throughout all phases of the Market Expansion and Market Square development.
Their network of over 70 passionate traders will be there every Market day throughout the neighbouring redevelopment project, continuing to serve up the best fresh produce and speciality favourites for customers.
To continue accessing the Adelaide Central Market, please refer to the indicative entries map below:
Adelaide Central Market opening hours:
Tuesday: 7:00 am – 5:30 pm
Wednesday: 9:00 am – 5:30 pm*
Thursday: 9:00 am – 5:30 pm
Friday: 7:00 am – 9:00 pm
Saturday: 7:00 am – 3:00 pm
CLOSED Sunday & Monday
*Selected Stalls
A new supermarket will be located on level one of the redevelopment providing a service offering for local residents, workers and visitors to support shopping needs. This will be further enhanced by a clustering of other day-to-day retail services, such as a bakery, butcher, chemist, and florist.
In addition to the supermarket, the expanded Adelaide Central Market will offer food, beverage, and speciality retail. This will showcase the very best in South Australian food and produce.
Construction of the Market Square development is estimated to be completed in early 2026.
The retail within the redevelopment will offer market activities, specialty retail and unique and exceptional food and wine offerings reflecting the best of South Australia, complementary to the Adelaide Central Market. The retail will focus on local and unique traders and produce.
Over 97% of the apartments have been sold including a component of affordable housing which were sold to eligible purchasers, meeting the State Government’s criteria pursuant to its HomeSeeker program.
In addition, ICD Property has applied the Homes for Homes program to market apartment sales. As part of this program, a percentage of the market apartments sale price is donated to helping deliver homes for those in need.
ICD Property and its building partner, Multiplex, as well as the City of Adelaide continues to work closely with the Adelaide Central Market Authority and other key stakeholders to minimise precinct impacts.
A range of precinct support measures have already been implemented including the delivery of UPark Andrew (providing 123 car park spaces), new on-street loading and precinct signage and wayfinding.
Key measures to be undertaken by the building partner during construction include:
- Liaising closely with key project stakeholders & neighbours
- Maintaining pedestrian access on Gouger and Grote Streets
- Installing acoustic rated hoardings to minimise noise transfer
Noise, vibration and dust will be managed in accordance with the development’s Construction Management Plan and Construction Environment and Management Plan and comply with all EPA regulations. The compiling of these documents occurs in consultation with City of Adelaide.
The building partner will establish and maintain effective environmental management systems to identify, eliminate, minimise or manage environmental risks to employees, industry stakeholders, the community and the environment.
Pedestrian access will be managed at Grote Street and Gouger Street prior to the main demolition works. Protection of the public will be provided using a combination of concrete barriers, access gates and zebra crossings along with DDA compliant temporary pathways.
UPark Central Market has nearly 1,000 car parking spaces available. During construction, 260 of these car parks will be temporarily removed and then reinstated upon project completion. It is anticipated that changes will be made to the internal circulation of the car park during the construction period. These interim changes will aim to minimise the impact on the car space usage to maintain business continuity.
The City of Adelaide has also established UPark Andrew opposite the Adelaide Central Market providing 123 parking spaces to support the market district during the Market Square development. UPark Grote Street provides further parking for shoppers visiting the market district during construction.
Vehicular access will be maintained on Grote Street and Gouger Street with suitable traffic management measures to be implemented.
New loading zones have been created at Grote Street and Gouger Street, with existing loading zones improved to facilitate Market trader loading.
Access into Central Market UPark has also been a point of focus with improvements made to traffic signalling on Gouger Street to enhance entry into the car park.
New loading zones have been created at Grote Street and Gouger Street with existing loading zones improved to facilitate precinct and Central Market trader loading. Trader loading will be separate from construction site loading.
Council has undertaken extensive community consultation and stakeholder engagement in the lead up to appointing ICD Property to undertake the redevelopment of the site.
Learn more about ideas and aspirations for the future of the market district as well as the Central Market Arcade community land revocation and redevelopment consultation that have informed the project.
Over the life of the project, engagement with stakeholders and the community will be ongoing.
Need more information?
If you have further questions about the development, contact City of Adelaide Project Manager, Matthew Rodda.