$400m Market Square redevelopment to include Finnish-style childcare operator, HEI Schools

Developers of the new $400m Market Square redevelopment have signed on a childcare operator, offering an exclusive number of places for city workers and tenants. See the plans.

A key tenant of the $400m Market Square redevelopment can be revealed as Finnish-style childcare operator, HEI Schools.

The childcare operator has signed a 10-year lease and will open its first South Australian centre in the building in 2025, catering for about 66 children.

The early education model, co-developed by experts at the University of Helsinki, is centred around creative play and health and emotional wellbeing.

Childcare operator, HEI Schools, will open in the new Market Square redevelopment. Picture: Supplied

Childcare operator, HEI Schools, will open in the new Market Square redevelopment. Picture: Supplied

ICD Property chief executive Matt Khoo said the award-winning childcare option would be well sought-after by Market Square tenants, traders and city office workers.

“Our vision from the beginning has always been to create a truly integrated hyper-mixed-use precinct at Market Square, cultivating a lifestyle of ultimate convenience by offering every on-site amenity you could think of,” Mr Khoo said.

ICD Property, in a joint venture with Adelaide City Council, is redeveloping the Central Market Arcade to include three towers, one containing apartments, another a boutique hotel and the third with offices.

The residential building – of which 96 per cent of apartments have been sold – would include a health and wellbeing centre, library, cinema and outdoor kitchen.

The buildings would be above an expanded Adelaide Central Market which would remain open during construction.

The Market Square redevelopment by ICD Property and Adelaide City Council. Picture: Supplied

HEI Schools Australian managing director Ken Yu said the company had been looking to expand into SA for “some time” and the “prestigious” development provided the perfect platform.

“Both Market Square and HEI Schools are unique ventures – they complement each other and will allow us to bring something new and innovative to the community,” he said.

The childcare centre will be designed using natural materials in neutral colour palettes. It will become the ninth HEI childcare centre in Australia.

Lord Mayor Sandy Verschoor said the centre would help make Adelaide more liveable and accessible for future growth.

Originally published as $400m Market Square redevelopment to include Finnish-style childcare operator, HEI Schools