Adelaide is set to witness the rise of one of its tallest skyscrapers right in the heart of the CBD, adjacent to Parliament House, signaling South Australia’s maturation, according to the Premier.
The state government will unveil Walker Corporation’s ambitious second high-rise project for Festival Plaza—a sleek 38-storey tower poised to accommodate nearly 10,000 employees and inject an estimated $1.3 billion annually into the precinct’s economic activity.
Standing at a towering height of 149 meters, the new structure will overshadow the existing 29-storey One Festival Tower, towering more than ten times higher than Walker Corporation’s original vision of a modest three-storey retail establishment.
The innovative design features 36 floors dedicated to commercial office space, with the possibility of 3000 square meters of public civic space distributed across four levels. A striking grand glass foyer, two floors reserved for upscale dining options, terrace-level restaurants, and an additional 800 square meters of public plaza add to the project’s allure.
The foyer’s design emphasizes uninterrupted views between the plaza and Parliament House, enhancing the connectivity of the space.
Initially, plans for a retail building were set in stone after a contract was inked by the former Liberal government and Walker Corporation in 2021. However, the Labor government expressed openness to greenlighting a second tower, leading to the submission of a formal proposal early last year.
Following Cabinet’s approval of an agreement to proceed with the development, the next step involves seeking planning approval.
Pending planning clearances and tenant agreements, construction is slated to commence in 2025, with the tower anticipated to reach completion as early as mid-2027. The construction phase is anticipated to generate around 1300 job opportunities.
Premier Peter Malinauskas hailed the project as a testament to South Australia’s burgeoning confidence, highlighting the state’s record-low unemployment rate and robust economy.
David Gallant, managing director and chief executive of Walker Corporation, expressed optimism about the tower’s potential to elevate Adelaide’s status, aligning with Lang Walker’s vision of Festival Plaza evolving into a globally renowned destination.
However, Greens planning spokesman Robert Simms urged the government to disclose the financial terms of Walker Corporation’s long-term lease for the proposed tower, expressing concerns about its impact on the iconic Parliament House and its surroundings.
