City Council's Plans For Old Le Cornu Site

Finally it's been sold

City Council's Plans For Old Le Cornu Site

For decades, it's the parcel of land in North Adelaide that's been a bit of an eyesore.

Vacant since 1989, numerous attempts to develop the old Le Cornu site have stalled over the years.

But an end to all that finally looks to be in sight.

The land's been sold to the Adelaide City Council.

It's a surprising move considering the location hasn't had anything on it for such a long time.

Lord Mayor Martin Haese says they're taking over control because of its "strategic importance" to the future of North Adelaide.

What that means exactly will remain unclear until after a settlement around February, but Council will be talking to ratepayers about what they want for the site. 

They'll also be seeking a return on the investment - so expect a "mixed use" development.

Previous plans released by the Makris Group in 2007

It all comes after a $200 million plan to build apartments, shops and a hotel on the prime O'Connell Street land was abandoned by the Makris Group in July.

Council's promised to reveal the purchase price after the transaction is completed early next year.