Friday, June 24, 2022

Adelaide’s former Le Cornu site to be transformed into $250M retail market hub

A $250 million food-orientated retail and residential project, featuring South Australia’s first roof top urban farm will transform one of Adelaide’s last remaining vacant city fringe locations.

Mark Devine (Peet), Nick Chapley (Commercial Retail Group), Spero Chapley (Commercial Retail Group) and Anthony Carrocci (Buidtec).

The Locale development on the 3.6ha former Le Cornu site on Anzac Highway, Forestville, will be the catalyst for urban regeneration and set the tone for future development and investment in the south-west corner of Adelaide.

The master planned project includes a residential and retail hub, market square with retail and services, outdoor dining and play spaces, a Green Urban School, short-stay accommodation, apartment and townhouse living.

A consortium led by the South Australian independent Commercial Retail Group, owners and operators of Frewville and Pasadena Foodland, with national property developer Peet Limited and local developer Buildtec, will undertake redevelopment of the site.

Key features of the development include:

  • A Market Square with supermarket, open-air cafes, eateries and specialist retailers including florist and day spa.
  • Approximately 199 high-quality apartments and 106 townhouses, developed by Peet Limited and Buildtec, providing opportunities across varying life stages and lifestyles.
  • Short-stay apartments to cater for tourism, corporate and wellbeing sectors.
  • Inc operated Urban Green School, where students will learn about sustainable food production, urban farming and business skills (250 Urban Green School placements and a minimum 50 apprenticeship and traineeship places during first three years).
  • A rooftop Urban Farm practicing regenerative agriculture and managed by students from the Urban Green School.
  • 30% open and green space – approximately half of which will be 24/7 publicly accessible land across reserves, the market square and high-quality public realm, and the other half open space via rooftop activations including the Urban Farm.

Stage One of construction will include the Market Square, Urban Farm and townhouses is expected to begin in 2024. Full project completion is forecast for 2029.

Commercial Retail Group Director Spero Chapley says: “The consortium’s vision is to create a project and experience unrivalled in Australia with a masterplan that incorporates a bustling, piazza-style Market Square at its heart, eateries, Urban Green School and rooftop Urban Farm and residential living.

“The Market Square will incorporate a high-quality supermarket which builds on what we’ve created at our Foodland Pasadena and Frewville stores, along with eateries, florist and produce stores. This is a 100 per cent new build, but it will be designed to integrate with the surrounding locality, enhancing the broader suburb of Forestville.

“The consortium brings together expertise in commercial and residential development, retail and hospitality, with the Commercial Retail Group maintaining a long-term commitment to the project as developer and owner/operator of The Market Square,” he said.

Planning Minister Nick Champion says: “This project is transformative. It will be the catalyst for urban regeneration and set the tone for future development and investment in the south-west corner of Adelaide.

“The design recognises and addresses our changing climate, supports urban infill growth adjacent to world renowned Park Lands and transport links at Goodwood and Adelaide Showground, and services the State’s increasing need for quality housing.

“This will be a dynamic and inclusive community where people can live, work, socialise, shop, eat and learn, but most importantly connect,” he said.

“Renewal SA and the Consortium are committed to ensuring the community has opportunities to help refine and further shape the Forestville development and will jointly undertake community engagement on the draft master plan. This is expected to commence in October 2022.”

Renewal SA General Manager Tony Cole says: “This bold new development will influence the future liveability of the city and demonstrated the power of combining local knowledge and quality business partnerships across government and private enterprise for the betterment of the community.

“We want to create a city that we can be proud of and while this is a relatively small site, by thinking big the Locale consortium will deliver something significant for Forestville and the wider community.

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