Former AFL star Andrew Welsh’s Wel.Co selected for $400m Renmark project

Renmark is set to be transformed by a $400m housing and marina development, and a former AFL star has been chosen to bring the local council’s vision to life.

The development company run by former AFL footballer Andrew Welsh has been selected to deliver a $400m-plus housing and marina project in Renmark.

Wel.Co, the company Mr Welsh established in 2005, will partner with the Renmark Paringa Council to bring the council’s vision to life, including development of close to 800 new homes and an expanded marina precinct with about 100 moorings, restaurants, cafes, shops and other commercial spaces.

A mix of traditional housing, waterfront homes, townhouses and apartments will be built across the 95ha site, north of Renmark’s town centre near Bookmark Creek.

Renmark Paringa Council launched an expressions of interest campaign for its Jane Eliza development last December, amid booming demand for land in the region.

It will now work with Wel.Co to develop a final masterplan for the site before submitting it for state government approval.

Artist impressions of Jane Eliza development in Renmark. Picture: Renmark Paringa Council website

Mr Welsh said it was a “generational” project, which would generate jobs, tourism and economic activity in the Riverland region.

“There is already an existing small marina there and we’re looking to expand that and put a lot more commercial uses around it,” he said.

“Renmark, from a destination and holiday perspective, is seeing a real boom off the back of Covid, so coupling that marina environment with the residential, we think, is going to be a real standout for that area.

“There’ll be integrated housing options in through there, there’ll be restaurants, commercial uses – really activating the marina area and the river. We’re looking to help build more areas that can help to really show off the masterpiece of the Murray in Renmark.”

The original Jane Eliza housing development commenced in the 1980s, and it currently has about 200 homes.

Aerial view of the proposed Jane Eliza development in Renmark. Picture: Supplied by Renmark Paringa Council

Renmark Paringa Mayor Neil Martinson said the next stage represented the largest and most significant development in the Riverland, with an estimated annual economic contribution of $109m once completed.

“It gives me great pleasure to announce that council has selected Wel.Co as the development partner to expand the Jane Eliza estate and deliver a nationally significant mixed-use marina precinct,” he said.

Mr Welsh played 162 games for Essendon between 2002 and 2011.

During his time at the Bombers he established an equipment rental company servicing the construction industry, before selling that business and moving into property development in 2012.

According to a young rich list published last year, he has since amassed a $155m fortune through his development company, which has a focus on Melbourne’s outer west, regional Victoria and Queensland.

Artist impressions of Jane Eliza development in Renmark. Picture: Renmark Paringa Council website

Wel.Co broke into the South Australian market last year when it took over the $500m Springwood estate in Gawler East.

Mr Welsh said South Australia’s property market was attracting strong interest from buyers and investors across the country.

“South Australia, we identified two years ago, as an area that’s really stable, and we believe is going to see some strong growth off the back of Covid and off the back of a really affordable price point – we’re super bullish on the South Australian market,” he said.

“We’re getting approached by a lot of different groups, investment groups, wanting to talk and understand more around South Australia because they believe that’s a real opportunity moving forward from an investment perspective.”

Wel.Co managing director and former Essendon footballer Andrew Welsh. Supplied by Wel.Co

Mr Welsh said timings for development approval and construction of the Jane Eliza project would be firmed up before the end of the year.

Development advisory firm Alinea Group’s Ben Koop, who managed the expressions of interest process, said the “state-significant” project would help to establish Renmark as “one of Australia’s most compelling river-based lifestyle communities”.

“Council set a bold vision for a world-class master planned community, centred around a new mixed use marina precinct,” he said.

“This will play a key role in supporting one of the state’s premier houseboat destinations.”