Coles secured as supermarket operator for $400m Market Square development
A major retail tenant has been secured for the $400m Market Square development. See inside one of Adelaide’s largest construction sites.
Business
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Coles will make a return to the Adelaide Central Market precinct after being named as an anchor tenant for the landmark Market Square development.
The supermarket group closed the doors to its previous store at the Central Market Arcade in May 2022 to make way for the $400m retail, office and apartment project currently under construction at the site.
A new 1700sq m Coles supermarket will feature on the upper level of Market Square’s specialty retail precinct, with a focus on local producers and suppliers.
According to joint venture partners ICD Property and the City of Adelaide, Market Square is on track to open its doors to the public in the last quarter of 2026.
ICD Property managing director Matt Khoo said securing Coles as an anchor tenant was a major milestone for the project.
“We are incredibly excited to welcome Coles to Market Square as the next chapter for their previous store that stood proudly since 1967 in the Central Market Arcade,” he said.
“Their unique approach to retail aligns perfectly with our vision of creating a dynamic precinct that celebrates South Australia’s food, culture, heritage and community. This milestone reflects our commitment to elevating the retail experience in South Australia.”
The new Coles supermarket will be situated within a hospitality and retail hub featuring a range of restaurants, cafes, bars and specialty shops.
Coles SA state leasing manager David Ivey said the new store would introduce a range of shopping innovations and new features, providing an “exceptional shopping experience”.
“At Coles we are constantly evaluating our store network to ensure we are delivering the best shopping experience for our customers, and as part of that process we are excited about delivering a new supermarket as part of Market Square,” he said.
“The project will create hundreds of local retail and construction jobs.”
The Market Square development will feature a hotel, 234 apartments, offices, a market hall and elevated garden.
Law firm Thomson Geer and several state government departments have been secured as tenants for the nine-storey office building, while Treehouse Hotels will operate the hotel.
Tenants are currently being sought for retail, food and beverage outlets near the Coles on the upper level of a new retail precinct, while up to 53 new market stalls, kiosks and other retail tenancies are also being created to support an expanded Central Market precinct on the ground floor.
Lord Mayor Jane Lomax-Smith said Market Square was shaping up as “one of Adelaide’s most exciting new retail destinations”.
“It is pleasing that Coles is returning to the Market district with Coles as one of the anchor tenants – especially after Coles was part of the Central Market Arcade prior to the redevelopment.”
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