Sensational-Adelaide.com

Holcon settlement

18Feb08



Artist's impression of Walkerville Tce and town square for the town centre redevelopment, 2005.

Artist's impression of Walkerville Tce and town square for the town centre redevelopment, 2005.

WALKERVILLE'S $55 million Town Centre redevelopment will go ahead after the State Government, Walkerville Council and developers Holcon agreed to an out of court settlement this week.

The City Messenger understands the settlement, reached on Monday night (February 18) means the government will directly sell Holcon a car park on Walkerville Tce, on which the development hinges, for $4.7 million on August 1.

The car park land had been at the centre of seven months legal wrangling between the three parties, which included a Supreme Court writ from Holcon seeking up to $25 million in damages from the council.

Holcon will start the $55 million town centre project in August; it includes a five-storey apartment building with 46 apartments, a shopping centre and basement and roof-top parking.

The Development Assessment Commission approved the development in January 2007.

The legal battle started last July after the Department of Transport, Energy and Infrastructure (DTEI) withdrew from selling the car park bounded by Warrick St and Walkerville Tce.

The council was to buy the land, for $4.7 million, and on-sell it to Holcon to develop the town centre.

However, DTEI claimed the council failed to find suitable replacement parking for its 800-plus Transport SA staff believed to be a condition of sale.

Now, Transport Minister Pat Conlon's media spokesman Matt Clemow said DTEI would use the sale proceeds from the northern car park to modify its southern car park ``to maximise existing'' parking.

Additional modifications will be made to the western compound car park and the northern private road to further maximise space,'' he wrote in an emailed statement.

Mr Clemow also said the council has offered land it owns in Fuller St and its depot to be developed into a car park. He said work on the new car parks would begin next month.

The three parties will all pay their own legal bills.

Holcon director Stephen Connor said he was ``very pleased'' with the result.

``We intend that construction will commence in August this year,'' he said.

A further condition of settlement is that the council will upgrade the streetscape from Walkerville Tce to Stephen Tce and Victoria Tce.

Walkerville Mayor David Whiting said he was ``pleased'' the court action had been dropped and a settlement was reached.

``The process has taken an enormous amount of council time and energy and it will be good to move on from this and focus ... on the community,'' he said.

By LOUISE RUSSELL & KASIA OZOG

AG wrote:Great news for Walkerville. This is the sort of development it needs to get it kickstarted to give the town centre some life.

Brando wrote:

AG wrote:Great news for Walkerville. This is the sort of development it needs to get it kickstarted to give the town centre some life.

Thanks AG. Do you know of any links for the development or real estate links mate?
Done a quick google search to no avail.

SDC wrote:Thanks for your positive comments on the project. It's nice to hear that kind of support.

The development will be constructed between Warwick Street, Walkerville Terrace and Victoria Terrace on the southern side of Walkerville Terrace. The site is currently a car park. The new town square and retail shopping complex will front Walkerville Terrace and the residential apartments will overlook the River Torrens linear park fronting Victoria Terrace.

Marketing of the residential apartments hasn't commenced. If you wish to register your interest, please feel free to email [email protected]

Cheers.

Faulkick wrote:Her husband is one of the high people up in one of Adelaide's big crane businesses...

Wayno wrote:

Faulkick wrote:Her husband is one of the high people up in one of Adelaide's big crane businesses...

he drives a crane?

yes, we like new development, but sometimes forget about the impact on the little guy...

Faulkick wrote:One thing that worries me, is that once again Woolworths are going to run another business out of.. Business - the IGA that is across the road is going to lose a LOT of it's sales, and even the Foodland up the top of Smith street (Collinswood Foodland, on NE Road) is going to lose a decent percentage of it's business.