Holden site redevelopment to be named “Lionsgate”
Pelligra Group has been named as the buyer of Holden’s former manufacturing site in Adelaide’s north but the Melbourne-based development company will not take control of the land until mid-2019 when decommissioning has been completed.
Pelligra, which is behind a number of Victorian projects that include Melton Central and Endeavour Werribee, plans to turn the 122ha Elizabeth site into a mixed-use business park that will be called Lionsgate, in recognition of the Holden brand.
Holden and Pelligra are negotiating to establish a centre of Holden manufacturing heritage and memorabilia at the site.
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Pelligra chairman Ross Pelligra says the company is pleased to be able to extend its investment footprint in South Australia, where it already owns a number of properties.
“We see enormous potential in the Holden site based on partnering with businesses operating in these sectors but also in keeping the site’s automotive heritage alive through the development of a cluster of complimentary industries which tap into the significant residual skills of former Holden workers,” he says.
The South Australian government recently installed temporary diesel generators at the site as part of an effort to reduce the risk of any summer blackouts in the months before the March state election.
Holden’s former 12ha site at Elizabeth, north of Adelaide.
Holden has started a decommissioning process that will extend to mid-2019 and will remain in control of the site until that process is completed. It also intends to lease back a portion of the site for spare parts storage.
Holden’s Matthew Goodwins says the company is pleased that the Elizabeth site, 20km north of Adelaide’s CBD, will continue to be a hub of industry and jobs in the region.
“Our wish for the future of the site has always been that it continues to create jobs for Elizabeth and the surrounding area and we believe that Pelligra’s master plan for the site is positioned to achieve this,” he says.
“We are also delighted with Pelligra’s intention to recognise the heritage of the site and its important place in Adelaide’s history and in the Elizabeth community.”
While the decommissioning process takes place, the current Holden signage will remain in place.
The sale was managed by CBRE Adelaide and the sale price was not revealed.
After almost 60 years of operation at the site, the closure of Holden’s operations at Elizabeth on October 20 resulted in the loss of 950 remaining Holden workers and 2500 jobs across the wider automotive industry.
This article originally appeared on www.theaustralian.com.au/property.
