The $400 million Central Market Arcade Redevelopment has been approved by South Australia’s State Commission Assessment Panel.
Designed by Woods Bagot, the redevelopment enhances Adelaide’s much-loved Central Market as well as adding more than 8,000 square meters of retail, food and educational settings and three new towers to the neighbouring Market Square.
Market Square is a joint venture project between ICD Property and the City of Adelaide. The development will create a new social and commercial hub for the city, showcasing the best of South Australia’s makers and producers. New activations will evolve from day to day and season to season.
ICD Property managing director Matthew Khoo acknowledged that the Central Market already exists as world-class public space and focused on the redevelopment as protecting and supporting its strengths.
“Market Square will be a celebration of the best of South Australia, and feature fresh new retail opportunities,” says Khoo.
“The seamless connection and close partnership with the Central Market is a huge asset to this project, we couldn’t be more excited to help secure its heritage and to watch this precinct flourish in the years to come.”
Market Square is expected to generate an overall boost of $135 million to the South Australia’s economy in the wake of COVID-19.
Once complete, annual precinct visitor numbers are forecast to rise by over a million, with the project also creating better access through Victoria Square, Grote Street and Gouger Street
The character of the Adelaide Central Market Hall inspired Woods Bagot’s concept design for the Central Market Arcade Redevelopment. The reinstatement of the distinctive 1960s red brick arches will ensure the arcade seamlessly transitions into the Adelaide Central Market.
Woods Bagot’s design was first released to the public in December 2019. Associate principal Alex Hall says the approved design is a direct evolution of those original ideas.
“The Adelaide market dates back to 1869, when a group of local gardeners sold their wares without any structure other than gas lights and a fence. A century and a half on, we’re looking to sensitively create a space that can carry that local entrepreneurial spirit forward,” Hall says.
“The idea has always been to develop a globally relevant destination by providing a window into South Australia’s unique offerings. Respecting the grittiness and authentic feel of the Market, and holding close those things locals love about it.”
Construction will commence in the second half of 2021 and is expected to be completed by 2024. Central Market trading will continue during all phases of the development.
In early 2020, Woods Bagot was also chosen to lead a world-class team on the design and delivery of the new women’s and children’s hospital in Adelaide. Explore the project here and it’s A+ team here.