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Market Square

Between Grote and Gouger Streets.
Multi-purpose redevelopment of Adelaide's iconic Central Market Arcade.

Project Highlights A redevelopment to enhance the existing Central Market Arcade


Project Value $400m

Project Timeframe 2021 - 2024

Market Square

The $400m Adelaide Central Market Arcade Redevelopment – to be named Market Square – signifies ICD Property’s first Public-Private Partnership development and flagship Adelaide project. A proud joint-venture development between ICD Property and the City of Adelaide, the redevelopment will see an enhanced and expanded Central Market while also adding new residential, hotel, office accommodation and retail assets owned by ICD Property.

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The Central Market Arcade has proudly stood within Adelaide for over 150 years. Housing local traders, businesses, and acting as a beloved location where locals can gather and socialise for multiple generations. Through this redevelopment alongside the City of Adelaide, ICD Property hope to safeguard the site’s future and reinvest into the precinct to establish it as a world-class example of a premium mixed-use destination. A place that showcases the very best of South Australian food, wine, produce, and businesses for locals and visitors to enjoy. Market Square will become a new social and commercial hub in Adelaide. A prized destination for people to gather, work, eat, shop, visit, and play at.

ICD Property and the City of Adelaide announced their partnership for the project in December 2019 with architects Woods Bagot and project managers Sinclair Brook selected to join the project team. In late 2020 the project team submitted a development application and in early 2021 received an approval from the South Australian State Commission Assessment Panel.

When completed, the upgraded Central Market Arcade will offer day and night activities, expansive retail options, and become a key community hub with laneways linking to surrounding areas, improving the CBD's overall connectivity.

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