A meeting this morning of the Executive Council – the Governor and the Cabinet – approved the contentious seven-storey tower to be built on the corner of Portrush Road and The Parade.
The development is a mixed-use building with a ground level café and retail space, meeting and training rooms, a restaurant, a gym, a pool and spa, three-level car and bike parking and end-of-trip facilities for cyclists and runners. Peregrine will also create up to 15 “short stay accommodation suites” in the development.
The approval has come despite some opposition from local residents and the council who believe a building of this size would be out of place in the area.
Investment and Trade Minister Martin Hamilton-Smith was delegated responsibility for carriage of the project, which was granted major development status, because Planning Minister John Rau declared a potential perceived conflict of interest. Rau formerly acted as legal counsel for Peregrine Corporation.
The development and construction of the building is expected to create 276 jobs.
Once built, the tower is expected to accommodate 110 new retail employees and 160 new Peregrine Corporation employees over the next decade.
The 249 existing staff roles at the facility will be retained.
The Shahin family owns Peregrine Corporation and its On the Run petrol and convenience store franchise.
Executive chairman Yasser Shahin said construction on the project would begin shortly.
“Peregrine Corporation is delighted that it has been given the green light to proceed with its new $50 million Adelaide head office at Kensington Park,” he said.
“Work on the building will commence almost immediately with detailed design followed by construction which is expected to be completed within two years.
“Peregrine Corporation … employs in excess of 3000 people and expects to recruit an additional 1000 staff over the next 12 months.”
He said the project was “testament to Peregrine’s long-term presence in South Australia and a vote of confidence in the future of the state.”
Hamilton-Smith said the project had “great public value and offers considerable social and economic benefits”.
Help our journalists uncover the facts
In times like these InDaily provides valuable, local independent journalism in South Australia. As a news organisation it offers an alternative to The Advertiser, a different voice and a closer look at what is happening in our city and state for free. Any contribution to help fund our work is appreciated. Please click below to donate to InDaily.