Plans announced for second skyscraper in Festival Plaza

One of Adelaide’s tallest skyscrapers will be constructed in the heart of the CBD next to Parliament House, in what the Premier says is a sign South Australia is “growing up”.

One of Adelaide’s tallest skyscrapers will be constructed in the heart of the CBD next to Parliament House in what the Premier says is a sign that South Australia is “growing up”.

The state government will on Tuesday unveil Walker Corporation’s second high-rise development for Festival Plaza – a “sleek” 38-storey tower that will be home to almost 10,000 workers and is forecast to generate $1.3bn in annual economic activity for the precinct.

At 149m, it will dwarf the existing 29-storey One Festival Tower and stand more than 10 times taller than Walker Corporation’s initial plans for a three-storey retail building.

The state government has announced plans for a second Walker Tower at Festival Plaza. Picture: Supplied

The new plans include 36 floors of commercial office space, an option for 3000sqm of public civic space over four levels, a grand glass foyer, two floors of high-quality food and beverage space, terrace-level dining and 800sqm of additional public plaza.

The foyer will offer continuous sight lines between the plaza and Parliament House.

The original retail building had been locked in after a contract was signed by the former Liberal government and Walker Corporation in 2021. But the Labor government said it was open to approving a second tower, and a formal proposal was submitted early last year.

Cabinet has approved an agreement to pursue the development, and planning approval will now be sought.

The state government has announced plans for a second Walker Tower at Festival Plaza. Picture: Supplied

Subject to planning approvals and tenancy agreements, construction on the project is expected to start in 2025 before the tower is completed as early as mid-2027. The construction period is expected to create 1300 jobs.

Premier Peter Malinauskas applauded the development.

“This new tower speaks to the growing confidence in South Australia, which now has the lowest unemployment rate in the country and the nation’s strongest economy” he said.

There will be a dining terrace overlooking Festival Plaza.

The scrapped three-storey building approved under the last Liberal government, left, compared to the new design, right.

Walker Corporation managing director and chief executive David Gallant said the tower will lead to a terrific outcome for Adelaide.

“It reinforces Lang’s ultimate goal that Festival Plaza becomes one of the world’s most celebrated squares,” he said.

Greens planning spokesman Robert Simms called on the government to reveal how much Walker Corporation was paying for a long-term lease at the site for the “38-storey monstrosity ... towering over our iconic Parliament House”.