Walker Corporation has received development approval from the South Australian Government for the delivery of a new Festival Plaza to become one of the world’s most celebrated city squares.
Inspired by famous international city squares, such as Plaça Catalunya in Barcelona and Leicester Square in London, Festival Plaza Square will feature a combination of dynamic entertainment and social areas, complemented by hospitality, retail and industry leading commercial amenities.
The plan for the site will reinvigorate the city centre from sparse concrete jungle into a thriving hub that will capture and service the people of Adelaide, create a destination that South Australians, interstate and overseas tourists.
The $500 million development, expected to get underway in 2017, will include a 40,000 square metre office tower, a new underground public carpark, as well as a new plaza, retail and entertainment precinct.
Chairman of Walker Corporation, Mr Lang Walker, said “This project has huge potential and is the culmination of four years’ hard work, consisting of international research, evolving project concepts and plans, and the negotiation of complex agreements between all involved parties.
“The concept is based on our successful and proven mixed-use approach which will revitalise the city centre. On the cusp of growth, this development will become a major drawcard for Adelaide and attract major national and international businesses.
“We congratulate the government on its progressive thinking in replacing and expanding the derelict carpark and spaces in the entertainment precinct with a modern facility that meets the latest codes and regulations, as well as linking the city to the river and Adelaide Oval”, he added.
Walker’s plan involves the demolition of existing, decrepit 300 bay carpark and the construction of new underground carpark, improving convenience for patrons of AFC and visitors to casino, as well as replacing the current surface parking in the parklands.
The 27 storey office tower with expansive views of the city and parklands will feature 3,363 square metres of premium retail space and weather protected walkways to link each precinct and building.
A pre-leasing program for the office tower is expected to commence immediately, including continuing discussions with a number of major South Australian tenants.
Built to a minimum 5 Green Star standard, the office accommodation is expected to attract blue chip companies from around Australia and overseas.
Mr Walker said: “The combination of premium, efficient office accommodation and adjoining amenities like bars, cafés and restaurants and entertainment is important to achieve an outcome that will ensure its popularity and use.
“We have a strong track record of creating projects where people can work and socialise, while delivering an excellent outcome for both the public and corporate tenants,” he added.
The new Festival Plaza will work as a connection between the city’s most visited public facilities to create a dynamic arts and entertainment centre; interlinking the Adelaide Oval, the railway station, casino, Festival Centre, convention centre and Riverside area.
Mr Walker added “This project will give Adelaide one of the world’s most exciting public spaces.
“The South Australian Government has shown vision and commitment to ensure the people of Adelaide are delivered a multi-purpose and dynamic city square, activated with space for concerts, exhibitions and a range of amenities for both the public and tourists to enjoy day and night,” he added.
Embodying South Australia’s inherent appreciation of the arts and cultural landscape, the square will be enhanced with new substantial works of art for the enjoyment of visitors and workers alike.
The square has been designed to be an all-year-round destination with ample seating, shelter and dedicated areas for varied entertainment all set within landscaped surroundings, featuring trees, shrubs and water features, providing an ideal location and the capacity to host music and sporting events for thousands of people.