Car company Holden has confirmed the sale of its former vehicle assembly site in Adelaide to a Melbourne-based developer for an undisclosed sum.
The company says the Pelligra Group plans to turn the site into a business park with a range of industrial, manufacturing, construction, engineering, automotive and commercial uses as well as retail and recreational facilities.
Director of manufacturing engineering and facilities Matthew Goodwins said Holden was pleased that the Elizabeth site would continue to be a hub of industry and jobs in the region.
"Our wish for the future has always been that it continues to create jobs for Elizabeth and the surrounding area and we believe that Pelligra's master plan for the site is positioned to achieve this," Mr Goodwins said.
Holden will retain a presence at the site, which will be known as the Lionsgate Business Park, with a plan to lease back a portion for spare parts storage.
It is also negotiating to establish a centre of Holden manufacturing heritage and memorabilia, which it wants to call the Redline Cafe and Museum after the popular V8 Commodore model.
But before the handover, Holden will continue an extensive site contamination assessment in line with a commitment to ensure any environmental issues from its vehicle assembly operations are managed in accordance with regulatory obligations.
That assessment should be completed in November next year.
Pelligra Group chairman Ross Pelligra said the purchase extended the company's investment footprint in SA.
"South Australia has an exciting future based on its major role in the defence industry, its significant mining and resources portfolio, its strength in food and agriculture, its geographically central location, advanced renewable energy position and its affordability," Mr Pelligra said.
"We see enormous potential in the Holden site based on partnering with businesses operating in these sectors but also in keeping the site's automotive heritage alive through the development of a cluster of complementary industries."
Holden closed the Elizabeth assembly operations in October, ending more than 50 years of car production at the plant.