News & Discussion: General CBD Development

[Patrick_27]

The city needs more variety in entertainment, looking forward to seeing the plans

The signs a Hindley St cinema is back on track
March 10, 2016 2:31pm
http://www.adelaidenow.com.au/messenger ... 7590988409

The Greater Union cinema on Hindley St has been closed since 2008.

IT’S almost lights, camera, action for the old Edge Church site on Hindley St as Greater Union Cinemas eyes its return to the popular strip.

The theatre closed its doors in 2008, leaving the Palace Nova Eastend as the city’s only major film venue.

This week the Greater Union group lodged its application for a Special Circumstance Licence with extended trading authorisation, making the return of the cinema to the CBD one step closer.

It has been rumoured that a tenpin bowling centre is to be part of a redeveloped complex.

This follows the announcement in July last year that Edge Church, which had wanted to remain in Hindley St and offered to buy the building, was seeking to move its congregation to Glenunga International High School.

The multi-screen complex will be home to at least six screens and city leaders have previously hailed the move as a “vote of confidence” in the future of Hindley St.

Greater Union are planning to be open for business by October (their Glenelg cinemas will be open by late April).

Not entirely sure where they'll fit a bowling alley on the site, but it would be welcome. The businesses in this precinct are tacky as ever, even some sub-par restaurants would be a welcomed sight.

[Brucetiki]

The article isn't overly accurate - Edge Church have long abandoned their plans to set up a campus at Glenunga. Too much red tape with Burnside Council to get it happening.

[Blimp]

City Cross is being put up for sale with the Makris Group - mentions potential redevelopment incl. office/apartments subject to approvals. Source: AdelaideNow.

Makris Group to sell City Cross shopping centre and 32 Grenfell St
8 minutes ago
RICHARD EVANSThe Advertiser

THE multi-million dollar transformation of the Adelaide CBD is set to continue as a major redevelopment opportunity come onto the sales market.

The Makris Group is to sell its City Cross shopping centre and adjacent company HQ at 32 Grenfell St in what is expected to be one of 2016’s costliest deals.

Global property group JLL has been appointed to oversee the sale of the 10524sqm core retail and commercial floor space set on a landmark site of 6779sqm.

JLL’s national head of retail investments, Simon Rooney, said retail investment activity in SA reached a record last year at $708 million courtesy of the Myer Centre ($288 million) and Rundle Place ($400 million) sales.

“The Adelaide CBD retail market continues to perform strongly,” he said. “Developers will be attracted to City Cross due to its location with frontages to four key streets, its substantial holding income and the ability to unlock significant future value by creating a major mixed-use development subject to Development Assessment Commission (DAC) approval.

“Undertaking major redevelopment will also allow developers to create investment product in a market where opportunities to acquire existing assets are becoming more limited and where competition remains strong,” said Mr Rooney.

Subject to DAC approval, the development could comprise the existing retail, a 22,490 square metre commercial office tower, 316 residential apartments and a 56-bed student accommodation tower he said.

City Cross is a mixed use shopping and office complex, comprising Harvey Norman, A-Mart Sports, two mini majors, 55 specialties and kiosks and four office tenancies with a holding income of approximately $6,448,000.

[Dvious]

22000, Sqm of office, retail, 316 apartments and student apartments sounds like a 40+ storey building to me....

[Blimp]

It's all abit vague (as ever) and I cant work out of they're referring to 1 tower or split towers. Eitherway lets hope someone with some vision buys city cross, as it stands it's such a wasted space.

[Ben]

Darling building refurb coming up well.

[PeFe]

The latest Hindley St west re-devlopment....after the last Hindley St re-development

Million dollar makeover for Hindley St west
The western end of Hindley Street will have narrower driving lanes, wider footpaths and new garden beds in the latest stage of city council upgrades to the street.


An Adelaide City Council visualisation of the stage 2 upgrades.
Information packs will be distributed to local traders and other stakeholders this week on the $1.25 million stage 2 redevelopment of the street.

A ‘draft detailed design’ for the upgrades includes a reduced road width with three metre-wide traffic lanes and significantly widened footpaths.

New street lights and new trees and garden beds will be added to the western section of the popular Adelaide strip, plus new parking spaces.

The Adelaide City Council’s administration has asked councillors to approve the budget for the project, which it says is “long overdue”.

Rest of the article here:
http://indaily.com.au/news/2016/04/04/m ... y-st-west/

[crawf]

The lower exterior of 33 KWS is set to receive a makeover.

The exterior shopfronts will be upgraded, with the first floor transformed into a restaurant/bar featuring tables and chairs along the balcony. This will no doubt be an extremely popular spot to watch the hustle and bustle of the intersection below.

Set to be finished early next year.

Source - signage out the front

[phenom]

Latest Colliers report on office space demand shows Adelaide doing reasonably well in the March 2016 quarter after a bad December 2015 quarter result - certainly much better than the doomsayers on AdelaideNow who think a 'for lease' sign means the apocalypse is upon us.

There was as almost as much demand for office space in Adelaide in the first quarter of 2016 as in Brisbane... 41,000sqm in Adelaide vs 44,000sqm in Brisbane.

Comparing like quarter for like (March 2016 vs March 2015), demand for office space in Adelaide was down 10% - but this compares to Melbourne down 42% and Brisbane down 26%. The largest increase in percentage terms was Canberra (118% increase over the year) - funny I wonder what percent of that is driven by Federal money (90%?) - yet apparently South Australia should be ashamed of being a (small) net recipient of Federal funds.

http://www.colliers.com.au/services/off ... xg2cvl97RZ

[Waewick]

Latest Colliers report on office space demand shows Adelaide doing reasonably well in the March 2016 quarter after a bad December 2015 quarter result - certainly much better than the doomsayers on AdelaideNow who think a 'for lease' sign means the apocalypse is upon us.

There was as almost as much demand for office space in Adelaide in the first quarter of 2016 as in Brisbane... 41,000sqm in Adelaide vs 44,000sqm in Brisbane.

Comparing like quarter for like (March 2016 vs March 2015), demand for office space in Adelaide was down 10% - but this compares to Melbourne down 42% and Brisbane down 26%. The largest increase in percentage terms was Canberra (118% increase over the year) - funny I wonder what percent of that is driven by Federal money (90%?) - yet apparently South Australia should be ashamed of being a (small) net recipient of Federal funds.

http://www.colliers.com.au/services/off ... xg2cvl97RZ

he problem with the Adelaide market is you need to dig past the headline numbers.

So the demand in December of that much space was likely a Govt department moving - so it takes up x amount of m2, the problem that occurs is the space that the department left isn't on the market until a lease sign goes up so it isn't relfected in the avalible m2.

speaking to a few people, demand remains very weak and primarily revolves around trying to Get Government to move (see the old ATO building on Wayouth), incentive payments in some buildings are moving towards 20%.

Vacancy rates are still at near 15 year highs not forgetting that our beloved state government is going to pay Lang Walker money to build more office buildings (on parklands.) so I wouldn't be getting excited about our vacancy rate just yet.

Don't get me wrong, I am not a doomsday person, but Adelaide is not looking rosy just yet and we are going to need a lot more federal money.

[phenom]

Agree with the broad thrust of what you say Waewick. CBD office space wise, Adelaide is very definitely a government, education and 'related consultancies' city these days. That said, it's become pretty much the same elsewhere except Melb/Syd because of the huge (largely taxpayer driven via compulsory super) financial sector.

I also don't agree with whatever deal is being done with Lang Walker. Sure, the govt will get a nice plush riverside address vs the drab old Admin Centre on Vic Square but there's no current shortage of good office stock thanks to Federal job cuts and rationalisation (the tax office in CC being just the biggest). If they really want to spend big, I would have thought getting the new court precinct going would have been better - at least they (we) end up owning the asset afterwards.

[Waewick]

Agree with the broad thrust of what you say Waewick. CBD office space wise, Adelaide is very definitely a government, education and 'related consultancies' city these days. That said, it's become pretty much the same elsewhere except Melb/Syd because of the huge (largely taxpayer driven via compulsory super) financial sector.

I also don't agree with whatever deal is being done with Lang Walker. Sure, the govt will get a nice plush riverside address vs the drab old Admin Centre on Vic Square but there's no current shortage of good office stock thanks to Federal job cuts and rationalisation (the tax office in CC being just the biggest). If they really want to spend big, I would have thought getting the new court precinct going would have been better - at least they (we) end up owning the asset afterwards.

I agree, but unfortunately you can never argue with people about what could/should have been.

[Nathan]

Anyone got some photos of the new Anzac walk on Kintore Ave? Media, and the state government / council social media have been pretty slack on it.

[Blimp]

http://www.abc.net.au/news/2016-04-23/a ... de/7353014

There's a few photos of certain parts in here, but I havent seen anything that shows it in full. Ill be in the city tomorrow so Ill try and snap a piccy of it!

[metro]

The new Kintore Warpath looks good, but the road has been a bit of a blunder with the Northbound direction, the kerbside bike-lane was filled with parked cars which took up part of the road lane and as a result cars heading north had to drive half in the southbound lane forcing oncoming traffic to drive in the bike lane.

I think they should have just made Kintore a 1 way street, it does not need to go both ways.