Commercial development is one of Adelaide's fastest growing sectors and the City of Adelaide is proactive about facilitating further expansion. Council's strategic plans include directives relating to population growth and economic prosperity that allow for the creation and modelling of new commercial activities.
The Council has pushed inner city growth through precinct-specific research and campaigns, co-creation of commercial hubs, simplified land acquisition and disposal policies and site development.
"The commercial property market in Adelaide, particularly in the CBD, has become more attractive to investors on both a national and international level. In no small part this is due to the yield differential between the South Australian capital and the eastern state capitals of Melbourne, Sydney and Brisbane." Rino Carpinelli, Savills SA Managing Director
Strong stakeholder engagement plans and business advisory services add value to commercial investment opportunities in the city for all investors from large property developers to small and medium enterprises to micro and niche operations.
The State Government has streamlined the proposal process for large-scale developments in particular through red tape reduction, modified planning processes, improved infrastructure, engagement with industry groups and community consultation.
Recent changes to Liquor Licensing legislation have also accommodated growth in small venues around the city. More than 40 small bars and restaurants have opened in the CBD, particularly in laneways in the east and west ends, giving birth to a bustling entertainment scene that reaches into every corner of Adelaide's public spaces.