State Government bid to sell 40ha of undeveloped Port Adelaide land in bid to create $2bn investment
WATERFRONT apartments, promenades, cafes and offices could be developed on more than 40ha of State Government-owned land in Port Adelaide that will be put on the market.
WATERFRONT apartments, promenades, cafes, offices and cultural sites could be developed on more than 40ha of State Government-owned land in the historic heart of Port Adelaide that will be put on the market.
Pitched to investors as the “last undeveloped port waterfront in Australia”, the Government expects the sale of six parcels will generate up to $2 billion of investment and bring up to 8000 people into the area.
There is even the “unique potential” for cafes, restaurants and markets to be built over the water.
Planning Minister John Rau said the Government would seek expressions of interest to develop the sites “soon”.
“It’s exciting if you are down at the Port,” he said.
“For so long, our state has talked about the potential of the Port to be full of activity again. That is why the plan for the revitalisation of Port Adelaide which is now being implemented is so important to this community.
“The plan has been shaped by the people who live in and love the Port.”
Through a detailed masterplanning process, each of the six sites has been given specific design goals including building use, heights and the inclusion of public plazas and reuse options for existing landmark sites.
The project area includes the Port Adelaide town centre, the waterfront, commercial and industrial areas in the eastern portion — including the historic wool stores — and residential areas adjacent to the town centre.
The 7.5 ha parcel of land to the northwest of the opening bridge would be the largest residential area, allowing up to 900 houses in mainly three-storey buildings which would include marina berths and wharf-side apartments.
Hart’s Mill would be repurposed and the area surrounding it would have buildings up to five storeys for licensed venues and businesses that would complement the markets and TAFE.
“We’re flagging the fact that soon there will be an invitation for people to express an interest in participating in the redevelopment of this (area),” Mr Rau said
“We may have the whole of this being offered as one proposition ... there might be a very large institutional investor that wants to be involved in a big way.
“It might be we say people can choose to offer something for the lot or they can choose to offer something for bits. We haven’t finally resolved our position on that.”
Acknowledging the recent failure of Newport Quays to take off, Mr Rau said this time the Government had completed a detailed masterplan to ensure appropriate development.
“All the work about what it should look like has been done ... whereas when it (redevelopment at Newport Quays) was done before, all of this work hadn’t been done before which is part of the reason it got into the difficulty it did,” he said.
“Each one of these bits has been worked out so they (developers) have to meet the masterplanning criteria.”
Property Council of Australia SA executive director Daniel Gannon said any redevelopment of the Port needed careful master planning, strong community engagement and a renewed focus on attracting small businesses.
“Port Adelaide is a confidence precinct and any rejuvenated development focus requires careful master planning, as demonstrated by lessons learned in the past,” Mr Gannon said.
“Strategic master and precinct planning is the foundation of successful places, and that means all stakeholders working collaboratively and carefully in pursuit of a common goal for the Port.
“There’s no doubt that life can be breathed back into Port Adelaide through careful collaboration and co-operation, as planning is absolutely fundamental to the future success or otherwise of the Port.”