[SWP] Central Market Arcade Redevelopment | 130m | 39 levels

[abc]

Gosh I really hope this one hasn’t fallen through.

Same - but surely not considering the apartments are almost entirely sold.

New Mayfield...

[Jaymz]

Gosh I really hope this one hasn’t fallen through.

Same - but surely not considering the apartments are almost entirely sold.

Yeah, I would think it's unlikely this one will fall over due to that reason. It is odd though that no application for demolition has been lodged as yet, given the arcade was being stripped pretty much as soon as all the tenants moved out. It looked full steam ahead.

With regards to the New Mayfield comment above, stage 1 was about 70% sold when it fell over and sales for stage 2 had only just begun.

[dbl96]

Gosh I really hope this one hasn’t fallen through.

Same - but surely not considering the apartments are almost entirely sold.

Yeah, I would think it's unlikely this one will fall over due to that reason. It is odd though that no application for demolition has been lodged as yet, given the arcade was being stripped pretty much as soon as all the tenants moved out. It looked full steam ahead.

With regards to the New Mayfield comment above, stage 1 was about 70% sold when it fell over and sales for stage 2 had only just begun.

Why did New Mayfield fall over if they had sales? If the contractor went bust, why didn't they just appoint a new one? Or did the contractor go bust with all the money needed to pay for the project and the developers coudn't get it back?

[Ben]

I think the builder and developer were one and the same or at least was a joint venture.

[timtam20292]

From my memory, New Mayfield went under after the builder went broke.

[rev]

So any news that this one is in trouble, other then random speculation?

[Prodical]

I emailed the ACC Manager for this project - v helpful response (below). So, all is looking OK - and I will be pleased to see the existing crap Coles building gone.:
________________________________

ICD has now successfully secured pre-sales of over 96% of its apartments. Only recently ICD Property announced that it had secured HEI Schools as the on-site childcare operator with HEI Schools entering into a 10 year lease. Further announcements will be made with respect to other tenants and operators, including across the hotel and supermarket uses.

On-site works commenced in June 2022 with demolition of the eastern portion of the site together with service relocations and the construction of interim access arrangements for the adjoining Sir Samuel Way building. Further measures have been implemented to support the precinct during construction including temporary car parking at UPark Andrew as well as new loading and precinct wayfinding.

Over the last few weeks permanent hoardings have been installed within the Eastern Roadway (fronting the Central Market) supporting site separation and noise attenuation. A series of artwork panels will soon be installed along this hoarding to provide an active interface to the Central Market. In addition, site preparatory works have continued to be implemented to separate the Central Market Arcade and Central Market buildings. This will prepare the building for staged demolition with such works aiming to carefully mitigate the impact on the operation on the adjoining Central Market. This is critical noting that the Central Market will remain open for business.
___________________

[timtam20292]

That’s a relief!

[Ben]

They didn’t really say anything from what I could read. No timeline. No mention of imminent demolition? Just general fluff we already knew?

As far as I’m aware there has not been an application lodged for demolition…

[Smithy84]

The builder is still saying that sub-contracts will be issued pre-xmas.

[Norman]

Here is the new wall inside the market.

[Ben]

Still no application for demolition. Nothing will happen this year. Absolutely shocking they kicked out the tenants and coles when they could have had another Christmas period of trade. Meanwhile locals have no supermarket.

[Hex]

Proposal to put a temporary zebra crossing on every street from Angas st to Rundle Mall to make the walk more tolerable. The new supermarket at Market Square better be incredible to make it worth the wait.

[timtam20292]

Still no application for demolition. Nothing will happen this year. Absolutely shocking they kicked out the tenants and coles when they could have had another Christmas period of trade. Meanwhile locals have no supermarket.

Absolutely ridiculous. Like you've said, I think it's safe to say that we can expect work to begin early next year.

[Jaymz]

Yep, agree with the sentiment here. Arcade vacated 6 months ago and wasted no time in gutting the shops. Pretty poor really, I imagined back then demolition would already be completed by now.