Home' InDaily : January 29th 2010 Contents Wallmans Lawyers has moved to Level 5,
400 King William St, Adelaide.
Our new home o ers close proximity to the
Courts and the Gouger St precinct, on and o
street car parking, and a consolidated working
environment across one floor, facilitating greater
accessibility, convenience and e ectiveness
in servicing our clients.
For a sneak peak of our new
office, please visit our online
tour at www.wallmans.com.au
Our phone numbers, PO Box, fax and email
details remain the same.
GPO Box 1018
Adelaide SA 5000
Level 5, 400 King William St
Adelaide SA 5000
T (08) 8235 3000
F (08) 8232 0926
Business & Taxation
The State Government s $55
million purchase of the 64ha
Mitsubishi site at Tonsley
Park will be finalised in late
The deal includes terms where
Mitsubishi will not be required to
clean up the site or demolish any of
the redundant buildings.
"There s been a delay and some
changes," said Mitsubishi spokes-
woman Lenore Fletcher.
"The exact date of settlement
is unknown -- that s up to the
Ms Fletcher said the settlement
contract would also include a
dollar amount for the 10 years of
free rent of the administration
block and 25,000 square metres of
storage space given to Mitsubishi
as part of the deal.
"But that has already been
estimated at around $20 million."
The site is reportedly undergoing
remediation after tests discovered
dangerous levels of chemicals in
groundwater, but any clean up
and demolition of buildings will
be the responsibility of the state
"The site was sold as is," Ms
Urban development experts have
also warned proposals to develop
the area into a new technology hub
will be a "long term" prospect.
The sale was first announced by
Treasurer Kevin Foley in mid-
December last year with a proposed
settlement date in February.
Mr Foley also promised a master
plan for the site s development -- to
be released soon after settlement
-- would involve "innovative compa-
nies in advanced manufacturing,
clean tech and environmental
He told reporters in December
the government did not want a
private buyer turning it into a
mass storage site or "big Bunnings
or Home Depot or truck loading
and storage facility, that would be a
waste of a very valuable site."
But in the two years since
Mitsubishi announced the end
of 44 years of motor vehicle
production at the site it has become
Mitsubishi stores its spare parts
on-site and contractors for the
South Road tram overpass used
the area to store concrete bridge
The storage deal lets Mitsubishi
off the hook with car makers
required to make and store 10 years
supply of spares.
Federal Chamber of Automotive
Industries spokesman James
Goodwin confirmed the require-
"Section 74F of the Trade
Practices Act deals with require-
ments for providing facilities for
repairs or parts," Mr Goodwin said.
"While this does not explicitly
state the 10-year time frame this
is what the industry considers
a reasonable time frame for
Mitsubishi s deal means the
parts can remain on site, saving the
company the cost of finding a suit-
able site for storage and moving the
spare parts to that location.
While Mitsubishi will remain
on 2.8 hectares of the site, it still
leaves another 61.6 hectares for
Media reports in late December
speculated the site would be used
as an education and training
complex, or "Super TAFE", but
that contradicts the government s
promise of advanced manufactur-
ing, clean tech and environmental
Industry speculation around
Adelaide favours a pre-election
announcement involving solar
thermal energy projects.
Two companies, Worley Parsons
and Petratherm, have been
pitching their ideas to government
for some time.
Historically, the site has been
a magnet for government money,
especially in the years where
desperate State and Federal
Governments propped up the ailing
car industry with massive grants,
subsidies and loans.
When Mitsubishi announced
the closure of its assembly plant
in early 2008 it handed back a $35
million government grant.
But when the deal is settled, $32.5
million of that money will be paid
back to Mitsubishi, along with the
chit for 10 years free rent.
The current state of the site
adds to the sense of decay in this
once vibrant region of suburban
Whatever happens in February
the future use of the remainder of
Tonsley Park will have a big impact
on residents in surrounding
Change long overdue
Mitsubishi s dormant site -- the next tenant will change the south.
Photo: Kate Elmes
Continued Page 12
The current state of the site adds to the
sense of decay in this once vibrant region of
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