Multiplex selected to build $400m Central Market Arcade redevelopment

Global construction firm Multiplex has been selected to manage the $400m redevelopment of the Central Market Arcade, with work to kick off in June.

Global construction firm Multiplex has been selected to manage the $400 million redevelopment of the Adelaide Central Market Arcade.

Construction on the project, known as Market Square, will commence in June, and will include an expanded retail precinct, seven-level office tower, childcare centre, luxury apartments and high-end hotel.

ICD Property managing director Matt Khoo said minimising disruption to traders would be a major focus during construction, which was expected to take about three and half years to complete.

“As an Australian-established company with global experience and top green credentials, Multiplex was a perfect fit for Market Square,” he said.

“We are acutely aware of the need to ensure all Central Market customers continue to feel welcome, and are working closely with the entire project team and ACMA (Adelaide Central Market Authority) to ensure any potential impact is minimal.”

Artist’s impression of the Market Square development.

Sydney-based Multiplex is currently undertaking a series of high profile construction projects across the world, including in London, Toronto, Glasgow and across Australia.

On Pirie St in Adelaide, it is building a $300 million office tower for the Department for Infrastructure and Transport.

Multiplex regional managing director Graham Cottam described Market Square as a “once in a lifetime project”.

“We have proven experience with developments of this scale across the globe,” he said.

“We pride ourselves on delivering international best-practice, collaboration and maintaining a shared focus with clients and the communities they serve.”

Joint venture partners ICD and the Adelaide City Council, the newly appointed builder and ACMA are currently exploring several options to minimise disruption to market traders and shoppers, including marketing activities to encourage visitors to the precinct during the construction period.

The council is offering ongoing support to Central Market Arcade traders affected by the redevelopment.

Lord Mayor Sandy Verschoor said the appointment of a builder was a “major milestone” for the project.

“This is a major milestone for one of Adelaide’s most important projects” she said.

“Market Square will generate a welcome boost for the economy and celebrate the best of South Australia, creating a new cultural precinct for us to work, play and visit.”