Former Le Cornu site on Anzac Highway for sale
The former Le Cornu site on Anzac Highway goes back on the market today – with “visionary” developers sought to create a “truly connected” area.
Business
Don't miss out on the headlines from Business. Followed categories will be added to My News.
A mix of apartments, townhouses, shopping facilities and commercial development is expected at the former Le Cornu site on Anzac Highway which has hit the market today.
The State Government’s development body Renewal SA is seeking expressions of interest from developers after acquiring the property in October.
The 3.6ha site in Forestville has remained vacant since the start of last year when German supermarket chain Kaufland abandoned plans to launch a network of stores across the country.
International property group JLL is handling expressions of interest which close on May 25.
Property records reveal the State Government paid $38.2m for two former Kaufland sites in Adelaide – the Anzac Highway property and a second plot of land on Churchill Road in Prospect.
It followed Kaufland’s $25m acquisition of the Forestville site in 2017 and the $12.5m purchase of the Prospect land in 2019.
Renewal SA general manager of major projects and pipeline, Tony Cole, said the former Le Cornu site would be a “catalyst” for the urban regeneration of the southwest corner of the city and had “enormous potential”.
He said a mix of medium- and high-density housing, “neighbourhood-scale” shopping services, commercial development and public open spaces would be delivered on the site.
“We are seeking a visionary development partner with the experience to create a truly sustainable, innovative and connected precinct – a place where people want to live, work and spend time,” he said.
Mr Cole said any new development on the site would need to be sympathetic to the surrounding community, with the appointed developer expected to partner with Renewal SA to engage stakeholders and the local community during the planning process.
The developer will also be required to complete a masterplan before proceeding with development, and be required to offer on-site work experience placements, traineeships and apprenticeships during development.
Early designs developed by Renewal SA suggest around 300 homes could be built at Forestville, with 15 per cent set aside for affordable housing.
Le Cornu closed its doors on Anzac Highway in October 2016.
Originally published as Former Le Cornu site on Anzac Highway for sale
Qantas counting on positive changes to win over shareholders
The airline is hopeful a record share price and new chairman will ensure a less fiery AGM than last year’s disastrous affair.
Why visionary White finally quit WiseTech
The exit will be a major test for the tech player. Like all founder-led companies, investors are about to find out if there will be a WiseTech without Richard White.