DELFIN Lend Lease and Ridley Corporation have formed a strategic alliance to create a residential and mixed-use development, 12kms north-west of Adelaide CBD.
The community can potentially house up to 20,000 people. The Dry Creek salt field is owned by Ridley’s wholly-owned subsidiary Cheetham Salt.
Ridley acquired the salt fields from Penrice Soda Holdings in 2005.
Delfin Lend Lease’s chief executive David Keir said the alliance would initially focus on the options for relocating part of the salt field and the optimal development path for the land.
In accordance with its contractual obligations, any relocation would be subject to Cheetham Salt being able to maintain its supply of brine to Penrice.
There are a number of locations within the extensive land interests held by Cheetham Salt to the north of the existing salt fields to which production could be relocated.
Keir said in the next 12 months, the partners will conduct a thorough study of this site and its future potential.
“It is important to note that much work needs to be done before any firm decision can be reached in relation to this site, however, together, Delfin Lend Lease and Ridley have the experience, expertise and resources to identify the best possible future uses of this land.
“Naturally, any investigation such as this will include discussions with a number of key stakeholders. In particular, we will be holding discussions with the South Australian government in relation to the alignment of the Northern Connector expressway.” he continued.
Ridley’s chief executive John Murray said the announcement is the culmination of discussions which commenced in early 2007and it was reflected in the outcomes of the strategic review announced earlier this month.
“This is the next logical step in unlocking the significant value in our surplus land holdings.
“We are delighted to establish this strategic alliance with Delfin Lend Lease and to partner with a group which has an outstanding track record of major developments in
Australian Property Journal
