Work finally starts on former Le Cornu site at North Adelaide, with $110m worth of apartments sold
After 30 years of delay, work has started on the $250m apartment project at North Adelaide’s ex-Le Cornu site – and we’ve got a video of the luxurious interiors.
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The developer of a $250m redevelopment of the former Le Cornu site at North Adelaide has taken a swipe at opponents to the project.
Commercial & General executive chairman Jamie McClurg said he was “incredibly proud” work finally had started on the vacant block following more than 30 years of controversy.
“I’m incredibly proud to lead a team that has overcome the self-interest, bias and narrow mindedness that has stalled progress on this site for more than three decades,” he said.
“And not just the stalling of works on this site but the stalling of progress in Adelaide more broadly.
“Progress that enables economic prosperity and opportunity while creating compelling reasons for people to visit and stay in Adelaide.”
Mr McClurg’s comments came as an official sod-turning ceremony took place at the O’Connell St site on Thursday morning, before excavation work started on a three-level basement carpark with 405 spaces.
He said apartment sales totalling $110m already had been achieved, while more than half of the development’s commercial and retail spaces had either been leased or were under negotiation.
The project, Eighty Eight O’Connell, is a joint venture between Commercial & General and Adelaide City Council.
Strongly opposed by some North Adelaide residents because of its height and scale, it involves the construction of three high-rise apartment towers on top of a two-storey podium with speciality shops, cafes, restaurants and bars.
A residents’ group, Vital North Adelaide, vocally campaigned against the project before unsuccessfully attempting to challenge its planning approval in the Environment, Resources and Development Court.
Lord Mayor Sandy Verschoor said the community had “been waiting a long time for this moment”.
“After 30 years, we are finally seeing a development that will deliver a new landmark in the heart of North Adelaide and be a catalyst in the revitalisation of the O’Connell Street precinct,” she said.
“It will be incredibly exciting to see this project start to take shape and deliver an outcome that will benefit the community for generations to come.”
Eighty Eight O’Connell sales director Georgie Taarnby said the strong interest in the project’s apartments was being driven by demand for larger residences.
“The apartments are significantly larger than those previously offered across projects in Adelaide,” she said.
“It’s the larger residences that have been the initial fast movers at Eighty Eight O’Connell.”
Ms Taarnby said three out of five penthouses already had been sold.
“We’ve also had greater than anticipated demand for three-bedroom apartments,” she said.
“What we’re seeing are people who are downsizing from large houses because they can capitalise on the value of their property and stay in the same area while having access to all the benefits and amenities Eighty Eight O’Connell can offer them.”
The excavation works for the carpark and building foundations are anticipated to take approximately 12 months, before construction starts on the podium and apartment towers – two 13-levels high and the third 15 levels.
The project is expected to be completed in the first half of 2025, with the creation of 430 construction jobs.
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