Decades in the Making: New Businesses Move into Eighty Eight O'Connell
North Adelaide’s landmark $300 million Eighty Eight O'Connell development is delivering a major boost to the local economy, with 17 new businesses now opening at the old Le Cornu site after 36 years of inactivity.
Iconic South Australian food and wine retailer Mercato, cult ice-creamery Gelato Messina, luxury rooftop restaurant Yakisan, retailer SAINTGARDE, fine jewellery brand Cassandra Mamone and Hub North Adelaide are among new tenants.
The new retailers complement 158 premium residences that developer Commercial & General has defined as a benchmark for urban living and activation.
Adelaide Economic Development Agency (AEDA) Chair Steve Maras says businesses across North Adelaide will reap the rewards of more residents and workers in the suburb.
“Eighty Eight O’Connell has become North Adelaide’s landmark development, one that will endure for decades to come—it is a great example of a genuine, high quality mixed-use development.
“The economic spin off for O’Connell Street and the broader locality will be significant, and the makeup of the O’Connell main street will certainly evolve and strengthen over the next few years.
“All of this will add to the economic advancement of the wider City of Adelaide.”
Bringing Health to the Heart of O’Connell Street
Eighty Eight O’Connell has become a wellness destination in Adelaide, with several health and fitness businesses— including Radiology SA and Icon Cancer Centre—making the move into the long-awaited development.
National Pharmacies opened its $1.6 million flagship shop at the development that features a full suite of optical services and beauty treatment rooms to accompany pharmacy services.
National Pharmacies Chief Executive Mark Smith says the brand’s new North Adelaide location, which is just several metres from its former store, has almost doubled its retail footprint.
“National Pharmacies North Adelaide sets a new benchmark in community healthcare as we continue to expand access to our expert pharmacy-led services in a modern, welcoming environment,” Mr Smith says.
Dishing up Fine Dining up in North Adelaide
New dining icon Yakisan—a joint venture between Executive Chef Adam Liston and hospitality entrepreneur Nate Scutter, in collaboration with Commercial & General Chairman Jamie McClurg—has taken Adelaide’s foodie scene by storm.
Together, the group has united culinary creativity, business insight and design ambition to create a venue that embodies Adelaide’s rising sophistication on the national stage.
Guided by a shared vision of crafting destinations that fuse artistry, community and experience, the trio created Yakisan—a restaurant that uses fire as philosophy.
“It’s about creating something that feels alive, where fire becomes both the ingredient and the experience,” Mr Scutter says.
“We wanted to build a place that feels unapologetically Adelaide yet world-class in every sense.”
Open seven days a week, Yakisan is joined by sister bakehouse, SANI, and its unique house-made shokupan (Japanese milk bread), artisanal breads and pastries crafted daily for Yakisan.
Celebrating a development that was decades in the making
Eighty Eight O’Connell, one of the city’s most significant private developments, took 36 months to deliver.
Pricing of Eighty Eight O’Connell’s premium residences, including penthouses, have set records in the property market.
However, the development also included more affordable housing, with one-bedroom options selling for $455,000 in 2022.
Mr McLurg says Eighty Eight O’Connell is not just a building, but a legacy that has redefined North Adelaide.
“Diversity in product is something we always look to achieve when bringing residential projects to market” Mr McLurg says.
"Commercial & General, alongside our building division Tandem, are proud to deliver not just a building, but a living, breathing precinct that combines community, commerce, healthcare, lifestyle and culture in one place,” he says.
Major city investments are redefining Adelaide’s skyline. Visit AEDA’s Major Projects page for the latest updates on key developments.