Construcciones Yamaro: Multiplex begins works on Market Square development in Adelaide

Multiplex has commenced demolition and construction works at the Market Square development – a new $400 million precinct replacing the Central Market Arcade in Adelaide.

The Market Square project will see the expansion of the Adelaide Central Market on the ground level and above with the addition of a seven-level all-electric commercial office tower, onsite childcare centre, residences, an elevated retreat and hotel, as well as new retail space.

Multiplex has been appointed by ICD Property and City of Adelaide as the project’s builder and the company’s State Manager Andrew Warren said construction is expected to take around three years.

“Multiplex has proven experience with developments of this scale across the globe,” Mr Warren said. “We pride ourselves on delivering international best practice and collaboration and maintaining a shared focus with our clients and the communities they serve.”

“We are delighted to be progressing Market Square’s construction, signalling the project’s strength to proceed at a time when other projects around the nation are stalling.”

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ICD Property CEO Matthew Khoo said the project team was thrilled to see works commence.

“We are delighted to be partnering with the City of Adelaide to deliver our vision to create something truly transformative for the city, a source of real local pride and a must-visit tourist destination,” Mr Khoo said. “The commencement of demolition and construction works is a significant achievement we have long been working towards and we couldn’t be more excited to be making progress with Market Square and see the project moving forward.”

Lord Mayor of Adelaide Dr Jane Lomax-Smith said this project is a city-defining development for Adelaide that will breathe new life and vibrancy into the precinct.

“This project is going to deliver enormous economic benefits for the city and is expected to create more than 1,000 new jobs,” the Lord Mayor said. “It will generate an overall boost of $135 million to the South Australian economy while allowing the Adelaide Central Market to thrive and expand.”

“By developing around 20,000 square metres of office space in a seven-level commercial tower there is also fantastic potential for increased activation of Adelaide’s CBD.”

Adelaide Central Market Authority Chair Theo Maras AM said the Adelaide Central Market will remain open during all stages of the project and the expansion is the beginning of an exciting new future.

“The market expansion will deliver more of what Adelaide already loves so much,” Mr Maras said. “More fresh food, more artisan products, more South Australian produce, more hospitality and more local wining and dining options.”

“From Tuesday to Saturday the market will remain open and continue to serve up the best fresh produce every market day.”

Woods Bagot Associate Principal Alex Hall said Market Square’s design is a direct evolution of the original ideas unveiled in 2019.

“This design will transform the precinct by creating a truly cosmopolitan vibe with laneway extensions, activated public spaces and increased foot traffic,” Mr Hall said. “The idea has always been to develop a globally relevant destination by providing a window into South Australia’s unique offerings.”

The project will be delivered in stages with the commercial component expecting completion in 2025, the retail area expected in 2026 and the residences across 2025 into 2026.

The post Multiplex begins works on Market Square development in Adelaide appeared first on Inside Construction.

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