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Global construction firm Multiplex has been announced today as the builder for Adelaide’s $400 million redevelopment of Central Market Arcade, with the company on track to break ground in four months.
To be renamed Market Square, the project will expand the iconic Adelaide Central Market alongside the addition of new retail and a seven-level A-grade commercial official tower which will be complemented by an onsite childcare centre, 210 luxury residences and a hotel.
The redevelopment is expected to create more than 1,000 construction jobs and boost the state’s economy by $135 million.
“We couldn’t be more thrilled to be joining this once-in-a-lifetime project,” Multiplex regional managing director Graham Cottam said.
“We have proven experience with developments of this scale across the globe.
“We pride ourselves on delivering international best-practice, collaboration and maintaining a shared focus with clients and the communities they serve.”
It’s anticipated the project will take three and a half years to finish and is forecast to boost annual precinct visitor numbers by more than a million upon completion.
Adelaide Market Hall (provided)
“We are very proud to be working alongside project partner ICD Property, as well as the Central Market, the Adelaide Central Market Authority (ACMA) – and now Multiplex – to bring this project to life,” Adelaide Lord Mayor Sandy Verschoor said.
“Market Square will generate a welcome boost for the economy and celebrate the best of Australia creating a new precinct for us to work, play and visit.”
Led by Melbourne-based ICD Property, the project faced significant delays due to the outbreak of COVID-19 and was initially scheduled to start construction in September 2021.
The project team is exploring options with the ACMA to implement street frontages during construction and install significant hoarding around the site to reduce noise and dust.
“We are taking all the necessary steps and precautions to ensure disruption to trading is minimised and we will continue to work closely with traders during construction, to ensure their business needs are met and we continue to service the community during this exciting time of growth,” ACMA chair Theo Maras said.
Central market traders were given notice of the project’s June 2022 construction date late last year.
The City of Adelaide has been offering ongoing support to help ease traders through the transition and will continue to do so over the coming months.
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