Adelaide's Most Embarrassing Piece Of Land Has Just Been Sold

Finally An End To The Saga

Adelaide's Most Embarrassing Piece Of Land Has Just Been Sold

For years and years it's been 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.

Move along, not much to see here

It's a surprising development for a location that's no development whatsoever on it for a very 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 specifically will remain unclear until after a settlement around February, but Council will be talking to ratepayers about what they want out of the site.

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

One of the previous plans released by the Makris Group in 2007

Premier Jay Weatherill is drawing comparisons with the Adelaide Oval redevelopment.

"People were worried about what whether we'd develop it in a way that would sacrifice what was beautiful about the Oval," he said.

"I think you're seeing that with the Le Cornu site."

"People were worried about what would go there. Now I think they can shape it, the community can shape it and we'll get a great outcome."

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.