Town Squares on the agenda in Sydney/Adelaide

As news filters through that Adelaide’s Central Market precinct is in line for a $400m redevelopment, another piece has fallen into place in Sydney’s plans for its own town square. Originally proposed over 30 years ago, Sydney council has been slowly acquiring properties at the site bounded by George, Park and Pitt Streets. With one holdout left – a 2 story building on George St held by company Silvacorp – the development is edging closer to reality although the last owners will be in no doubt of the premium they can expect.

The Adelaide development will be managed by ICD Property and is set to include specialty retail, commercial offices, a hotel and apartments. Construction is not expected to commence for >12 months (early 2021) with an expected build time of 2 years.