PEREGRINE CORP'S ADELAIDE DEVELOPMENT GIVEN THE GREEN LIGHT

PEREGRINE Corporation's $50 million proposal to redevelop its Norwood Parade headquarters in Adelaide has received development approval with work to begin almost immediately.

Approval for the seven-level development on the corner of Portrush Road and Norwood Parade was granted by South Australia Trade Minister Martin Hamilton-Smith.

Plans will see the existing headquarters demolished to make room for a state-of-the-art building to accommodate existing and future employees working in operations.

The building will also have a ground level café and retail space, as well as a restaurant, gym, pool and spa, and three-level car and bike parking.

Peregrine also plans to create up to 15 short-stay accommodation suites within the new development.

The project is expected to employ 276 people during development and construction, create an additional 110 retail jobs and will allow for an expected increase in 160 new Peregrine employees in the next decade.

Hamilton-Smith says he welcomes the development which will create jobs for South Australians.

The Shahin family owns Peregrine Corporation which operates the On The Run brand of service stations and convenience stores in South Australia.

"The Shahins are passionate and committed South Australians with a track record of investing in the state and creating new jobs," says Hamilton-Smith.

"Peregrine Corporation is a well-established South Australian business wanting to remain in the state and be part of its future."

"The State Government has identified the attraction and retention of head offices as an important part of driving the economy."

Business News Australia