A purchaser for General Motors Holden’s Elizabeth manufacturing site in Adelaide has been selected following a six-month search.
Holden, which wants to retain a presence “across a significant portion of the site” with a spare parts operation, has also announced interest from other major occupiers.
With its closure on October 20 marking the end of the automotive assembly industry in Australia, Holden hopes new investment in the site will help “pave the way for one of Australia’s largest strategically positioned business hubs”.
“A preferred investor/developer from interstate has been identified for the property based on their long-term investment strategy,” said Holden’s Executive Director of Manufacturing, Richard Phillips.
“They have a good performance record and ability to deliver a high-quality outcome, with a willingness to work with local authorities and the community.”
The site is to be transformed into a master-planned, innovative business park, providing employment opportunities for new and established industries such as resources, engineering, logistics, construction, defence, food and beverage and sales from both the local, national and international market.
“Renewable energies will be part of the masterplan,” Phillips said.
Holden, which will undertake a decommissioning process that will extend to mid-2019, is now finalising contracts with an undisclosed purchaser.