Sensational-Adelaide.com

Prospect shopping centre to be demolished and replaced, with larger Foodland supermarket
Dan Jervis-Bardy, The City
February 1, 2018 5:40pm



A RUNDOWN Prospect shopping mall will be razed and replaced with a two-storey supermarket, retail and carpark complex.

Longtime landowner George Velentzas has been granted approval to demolish the Foodland supermarket and eight shops at 85 Prospect Rd.

In its place will be a new 1380sq m Foodland, shops and 84 carpark spaces, costing $5.5-$6 million.

Mr Velentzas said the upgrade, which would more than double the size of the ageing Foodland store, was recognition that a “little supermarket and shopping mall” was no longer a viable retail model.

“Basically, in a nutshell, the Foodland is too small and the tenant has been there for a long time and it’s time for us to look after them,” Mr Velentzas told The City.

“It just was not viable.”

Mr Velentzas expected a 12-month construction period to start in early 2019, after Prospect Council’s planning authority approved the proposal at last month’s meeting.

Terry White Chemist had committed to lease a space in the new building., although the other shops will be forced out.

Mr Velentzas said he was leaving the option open to expand the complex to four storeys, including apartments or offices, to meet any future demand.

“We have been here since 1983 and there is a real buzz around the place,” he said.

“The general vibe that I am getting is that Prospect Rd is like Norwood Parade was 15-20 years ago.”

Prospect Mayor David O’Loughlin said the project would be a real “shot in the arm for the community”.

“It is a strong vote of confidence in what we are doing on Prospect Rd,” Mr O’Loughlin said.

“A big part of the next phase of the Village Heart is to have more people there during the day.”

Pistol wrote: ↑

Mon Jan 22, 2018 6:07 pm

Plans are in and approved by Prospect council to knock down the little arcade that Foodland sits in on Prospect and rebuild with multi-story car parking and new shops to the street front.
Finally...
Reminds me of the little arcade on The Parade that Foodland used to sit in.

More than 120 new homes are set to be built in Prospect



A 5.4ha vacant site on the corner of Churchill and Regency Rds, in Prospect is about to become Adelaide’s latest trendy townhouse development.

Launched last month, works will begin on the first of more than 120 townhouses and apartments planned for the former Islington Railway site in July.

Project spokesman Nidal Rasheed of Silvertail Property Group says it will also include parks, reserves, a history wall and a plant-laiden green wall to provide “that natural feel”.

Named Prospect 1838 in homage to the year Prospect was founded, the development will feature slick modern styling and is being marketed as an affordable entry point to inner suburban living.



Buyers will be able to choose from a range of three-storey Torrens Titled townhouses with three or four bedrooms, three bathrooms and two garages.

Mr Nidal says the cheapest homes within Prospect 1838 have a fixed turnkey prices of $485,000, making them highly competitive with other nearby developments including Bowden and Lightsview.

“For first home buyers, it’s finally a chance to secure an affordable home inside the 5km radius of the city centre,” Mr Nidal says.

“There’s probably about 12 of the (first 60 homes) for $485,000.

“They jump to about $560,000 to $565,000 — for that you get a four-bedroom property with a media room.”

According to CoreLogic, Prospect’s median house price is $700,500 and its median unit price is $430,000.



“We’re signing up a lot of first homebuyers and young professionals but first homebuyers are making up the majority of our inquiries,” Mr Nidal says.

He adds there has also been interest from investors and empty nesters.

The development will be built in two stages, the first of which will involve construction of 60 townhouses.

Prospect Mayor David O’ Loughlan says Prospect 1828 is “perhaps the last cog in the wheel for the rejuvenation of Prospect”.

He says it is the “last large-scale opportunity” to invest in the council area.

“For us, a healthy community is a range of people, a range of family sizes, a range of price points, so we’ve very excited about this project launching,” Mr O’Loughlan says.

A-Town wrote: ↑

Mon Mar 12, 2018 5:50 pm

Are we likely to see a redeveloped Islington Railway Station with improved access once this development is up and running? Would be a good idea to make it appealing to the influx of new residents moving in to the area.