Prospect Lifestyle Precinct
The Prospect Lifestyle Precinct will be a welcoming and inclusive space, fostering a sense of community by providing opportunities for connection and recreation, as well as revitalising the Main North Road corridor, enhancing our city's vibrancy and attracting investment.
Background
Since 1898, Prospect Oval has been a beacon in City of Prospect’s rich heritage, holding immense significance as a historic sporting hub and a gathering place for generations of South Australians and our local community.
That’s why we are excited by the opportunity to enhance the Prospect Oval Precinct through our recent acquisition of land on Main North Road, creating a vibrant and inclusive space for our community to treasure for the next 100 years.
Recognising the importance of open space to our community, this purchase marks a milestone in Council’s commitment to enhancing the Prospect Oval Precinct, and City of Prospect couldn’t be more excited about the possibilities it presents. The decision to acquire this land was made with careful consideration of the goals and aspirations of our community.
This once in a generation opportunity, allows us to create a vibrant, connected, and multi-use sporting, recreation, and open-space precinct. But this is more than sport. We envision expanding and enhancing the quality of our city’s public spaces and facilities to provide an accessible, unique, and enjoyable precinct for all.
We want to enhance our community offerings and ensure that everyone can find a place to connect and play, from dog walkers to families seeking more community space. Our investment in this site allows Council to increase and improve our public amenities and offerings at Prospect Oval, making it an even more inviting and enjoyable place for all.
More broadly, we can enhance connectivity between Prospect Road and Main North Road, creating smoother and more convenient pathways for residents, meaning shorter commutes, easier access to local businesses, and a greater sense of unity among our community members.
The ability to improve the Main North Road urban corridor is something that Council strongly supports; enhancing the overall look and feel of the area to be more attractive, welcoming, and vibrant, will help make it more appealing for future investment and economic growth.
A legacy project such as this takes time. Importantly, in order to adequately consult with the community, craft a development approach and articulate a masterplan and architectural vision will take at least two to three years. Our strategic approach is to mitigate the funding costs (interest payments on the acquisition loan) during this planning phase ie the first three years. By then, we hope to have carefully designed the future precinct in a consultative way. Stay tuned via Council's Engagement Hub for how you can be involved in this exciting masterplanned precinct development for City of Prospect.
As one of Council's key Advocacy Priorities, we're committed to honouring its legacy as a sporting hub, whist creating a space that caters to the diverse needs of our growing community. We hope to engage with you widely to shape the future of not just this purchased land but the entire precinct, and to embark on this journey of community enhancement together.
Our vision
A place to connect: The Prospect Lifestyle Precinct will be a welcoming space for everyone, from families and dog walkers to athletes and community groups.
Enhanced connectivity: Improved pathways will create a more walkable and bikeable area, connecting Prospect Road and Main North Road, and fostering a stronger sense of community.
A vibrant hub: The project aims to revitalise the Main North Road corridor, making it more attractive for investment and economic growth.
We'll be working closely with our community to shape the future of the Precinct and ensure it reflects your needs and aspirations. This is an exciting journey of creating a vibrant space that will benefit Prospect for generations to come.
Council is committed to making the Prospect Lifestyle Precinct a reality, and we believe it will be a valuable asset both to and for our community.
Latest news
February 2024
December 2023
- City of Prospect to illuminate Prospect Oval to bid for 2026 AFL Gather Round
- Main North Road Strategic Land Purchase - now leased
July 2023
Turf Wicket Replacement - Prospect District Cricket Club
Council has allocated funding in the 23/24 FY for the upgrade of the centre pitch on Prospect Oval. The project is a jointly funded by Council, the South Australian Cricket Association (SACA) and Prospect District Cricket Club, with SACA managing the project.
Works are expected to commence from Monday 4 December 2023. During this time, the work site will be bunted off, but the oval will remain open to the general public. The contractors will ensure the area is left safe and secure at the end of each working day.
Subject to favourable weather conditions, the project is expected to be completed by end of December. After which, the work zone will remain bunted off for an additional 10-12 weeks to allow the new turf to grow and establish. During this time, we ask that oval users and dogs do not enter specific work zones. Councils' community safety officers will be undertaking random inspections and educate the public where appropriate.
AFL Goal Post Replacement
The AFL goals at each end of Prospect Oval will be replaced concurrently to the turf wicket replacement.
The oval will remain open, however there may be periods where the work zone is bunted off around the each end of the ground. Works are expected to be completed by end of December.
During this time, we ask that oval users and dogs do not enter specific work zones. Councils' community safety officers will be undertaking random inspections and educate the public where appropriate.
Frequently Asked Questions
By purchasing this land, Council is seizing a once in a generation opportunity to expand the Prospect Oval precinct and bring more benefits to you.
Here’s how it will positively impact our community:
- Enhancing a vibrant community precinct: Create the capacity to expand the quality public spaces and facilities of Prospect Oval, improving this unique precinct for all Prospect residents and visitors to enjoy.
- Enhancing Prospect Oval: Increase and improve the public amenity and quality of Prospect Oval offerings.
- Improving accessibility and connectivity: Improve community accessibility and connectivity between Prospect Road and Main North Road, aligning with previous Council Master Plans, opening the Oval to the eastern part of our city.
- Upgrading the urban corridor: Capacity to enhance the urban corridor along Main North Road whilst pursuing various development opportunities for future community assets.
- Community collaboration: Most importantly, as a member of our community, you will have a say in shaping the site’s future.
Council sees great potential in this land to benefit all ratepayers. There are a range of opportunities to expand and improve the public spaces adjoining this site and contribute to the economic development of Main North Road.
Importantly, we want to know what you see too. Council aims to consult widely and engage with our community to shape the future of this purchased land. We understand the importance of quality public space in Prospect.
Together, we hope to both enhance the Prospect Oval precinct and address community feedback around creating opportunities to off-set the cost of future improvements.
However, in the meantime Council will commercially lease the existing space to generate income and offset cost to the community, whilst future plans are consulted and settled.
The purchase of the land will be financed through loans from the Local Government Finance Authority. Repayments will be funded through a combination of commercial lease and rate revenue.
The existing infrastructure on the site allows Council to generate commercial lease income, which will be used to fund repayments, along with a 1% additional increase in rate revenue, whilst we plan for the future of the site.
Council has undertaken a thorough due diligence process, including an independent valuation and feasibility study, analysis from Council’s Audit and Risk Committee, key legal advice, and an independent Prudential Review to inform Council’s decision-making process.
- Council undertook the purchase process in confidence due to the commercial nature of the acquisition, to ensure a fair price.
- Council has undertaken a thorough due diligence process, including an independent valuation and feasibility study, review by Council’s Audit and Risk Committee, and an independent Prudential Review, all which informed Council’s decision process.
- The confidential order has now been lifted and you can now review all the related Council reports can be found in the Document Library menu on Engagement Hub https://cityofprospect.engagementhub.com.au/annual-business-plan-and-budget-2023-2024
The purchase price of $8.3m was 2.5% above the valuation. Of importance to note is that this size of a property does not come up for sale often and we were in a highly competitive market.
Council considered that the opportunities of this property given its size and location to Prospect Oval as Council’s flagship oval including the future benefits to increase City of Prospect assets, was a valuable exercise.