GM Holden lines up a buyer for its soon-to-be-idle Elizabeth manufacturing site in Adelaide, South Australia.
The General Motors subsidiary does not name the purchaser, saying in a statement it is still finalizing contracts, “after which the name of the purchaser and further details will be announced.”
GM Holden plans to retain a presence across a significant portion of the site with a spare parts operation and says there also is interest from other major occupiers looking to secure commercial space at Elizabeth.
Richard Phillip, executive director-manufacturing for GM Holden, says a preferred investor/developer has been identified for the property based on their long-term investment strategy.
“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, defense, food and beverage and sales from both the local, national and international market,” he says in a news release.
GM Holden’s long-term presence in Adelaide and its northern suburbs will be recognized in planning for the site with a proposed heritage center and hospitality venue.
The automaker will end production at the site Oct. 20 and says it will undertake a decommissioning process that will extend to mid-2019.