Port Adelaide Unveils $250m ‘Alberton Square’ Property

Port Adelaide Football Club has officially broken cover on its most biggest off-field project to date, revealing plans for a USD250 million (AUD351 million) mixed-use precinct dubbed Alberton Square.

The announcement follows a carefully executed three-year “secret” acquisition strategy, during which the club secured 26 residential properties surrounding its historic Alberton Oval headquarters.

The parcel of land, spanning approximately 20,000 square metres and stretching to Port Road, will be transformed into a landmark commercial, residential, and health hub.

The club aims for the development to provide a “world-class real estate ecosystem” that future-proofs its finances for at least the next 150 years.

Commenting on the project, Port Adelaide chairman, David Koch, said: “We’ve always said that we want to be a financially powerful club and this is our way of doing it.”

 “This will transform the club’s assets to an estimated $250 million over the next decade,” Koch said.

The ‘LA Rams’ Blueprint

The move is modelled on the Hollywood Park development in Los Angeles, where NFL team the LA Rams built a massive entertainment and residential district around SoFi Stadium.

Port Adelaide CEO, Matthew Richardson, noted that global research identified a pattern: innovative sporting clubs are no longer just tenants but landlords, creating independent revenue bases separate from football operations.

Key Precinct Features:

• Alberton Square: A reinstatement of one of the district’s five original 1870s public squares.
• Residential & Health: Plans for up to 300 apartments alongside integrated health and wellness facilities.
• Strategic Hub: Located just 5km from the AUKUS industrial precinct, tapping into significant state growth.

Port Adelaide’s Community and Legacy

While the property play is a commercial blow to the organisation, it also carries a sentimental legacy. Richardson revealed that the club previously owned eight of the 26 houses before being forced to liquidate them in 1997 due to financial fragility during the transition to the AFL.

“The vision was to progressively acquire surrounding properties over a 5–10 year period, which has progressed much quicker than our projections.”

“This asset will underpin the club’s core business and football programs for generations,” Richardson added. 

The club will now enter a 12–18 month planning phase, including a code amendment to rezone the land. Member and community information sessions are scheduled for March 16 and March 23, 2026.

Commercial Structure and AFL Support

The acquisitions were managed via the PACF Property Unit Trust, a wholly club-owned entity involving roughly 20 private investors, including Koch. In addition, the AFL has backed the venture with a USD10 million (AUD14 million) line of credit via its new commercial investment fund – one of the first of its kind in the league.

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