[COM] 145-159 King William Street (GPO) | 61m | 16 Levels | Hotel

[Mpol03]

So happy to see the original design may be getting an overhaul.
If the new design is anything like the ribbon, then bring it on. An architectural statement to the city of this nature is exactly what our CBD is crying out for.

[EBG]

The tower crane could go up soon (even this weekend) as there is a large mobile crane parked on site.

[citywatcher]

No this is a different project

Sent from my SM-J730G using Tapatalk

[Ben]

Sounds promising. They will likely be complete before Sofitel is ... or even started perhaps.

Wonder if it will be a Sheraton given North Adelaide fell through.

Type: Schedule 10
Application Number: S10/4/2018
Lodgement Date: 29/01/2018
Location: 141-159 King William Street, ADELAIDE SA 5000
Description: Works affecting the State Heritage GPO building, including some demolition works, adaptive reuse of the GPO building for retail uses and ancillary hotel uses and the construction of a 16 level 5-star international hotel
Applicant Name: GREATON DEVELOPMENT P/L

[ml69]

Sounds promising. They will likely be complete before Sofitel is ... or even started perhaps.

Wonder if it will be a Sheraton given North Adelaide fell through.

Type: Schedule 10
Application Number: S10/4/2018
Lodgement Date: 29/01/2018
Location: 141-159 King William Street, ADELAIDE SA 5000
Description: Works affecting the State Heritage GPO building, including some demolition works, adaptive reuse of the GPO building for retail uses and ancillary hotel uses and the construction of a 16 level 5-star international hotel
Applicant Name: GREATON DEVELOPMENT P/L

Great news ... just about anything would be better than the original square glass box proposed in the original renders.

[Algernon]

At some point Hilton should realise they now have the crappest hotel in the CBD and redevelop the thing

[crowdoc]

I hope they provide sound insulation for that GPO clock bell

[[Shuz]]

At some point Hilton should realise they now have the crappest hotel in the CBD and redevelop the thing

The Hilton is still pretty nice - it's held up well after all these years. The building itself is a great example of the architecture of its time.

According to Emporis, the official name of this building is GPO Plaza and it will be 63m tall over 15 levels, expected completion in 2020.

[Will]

At some point Hilton should realise they now have the crappest hotel in the CBD and redevelop the thing

The Hilton is still pretty nice - it's held up well after all these years. The building itself is a great example of the architecture of its time.

According to Emporis, the official name of this building is GPO Plaza and it will be 63m tall over 15 levels, expected completion in 2020.

The details on Emporis relate to the previous proposal. It will be updated once more detailed information regarding the hotel proposal comes to light.

[citywatcher]

Post office moves out in August

Sent from my SM-J730G using Tapatalk

[Ben]

Developer Greaton lodges plans for Adelaide's first five-star hotel

Adelaide-based developer Greaton has lodged plans to build Adelaide's first five-star hotel at Victoria Square, complementing Charter Hall's GPO Exchange commercial redevelopment and further diversifying its property portfolio.

The group, which first burst onto the Australian property scene in 2015 with the West Franklin urban regeneration residential project in Adelaide, has since expanded into residential development in Sydney but recently signalled its intention to diversify away from housing with long-term commercial investments.

The group kicked of its new strategy with a double coup, buying its first office tower for investment, United Voice's Sydney Chinatown commercial building at Thomas Street for $145.8 million earlier this week, and now a new hotel in Adelaide.

Greaton chief executive Nicho Teng said the purchase of the fully leased property 187 Thomas Street would have future yield increases, through a potential 30 per cent increase in rent, motivating the group to keep the property as an investment.

"Sydney trophy assets, commercial offices, hotels and retail precincts have value. And as house prices fall [in Sydney], it is necessary for developers like us to detour into long-term investments to balance out risks," Mr Teng told The Australian Financial Review.

"This week, Sydney's house prices fell 2.1 per cent in the year, it's natural for us to diversify.

"In fact, commercial returns are better than residential returns in the long run. While residential returns are high in the short term, residential development can be risky and complex."

While Greaton could not comment on its Adelaide hotel plans, as they were still being assessed by the State Commission Assessment Panel, public records show the group was planning an adaptive reuse of the Adelaide GPO building at 141-159 King William Street for the construction of the hotel.

No further details were available but it was likely a deal could have been struck between Greaton and Charter Hall, the owner of the leasehold and freehold of the GPO, sources said.

Charter Hall has started building a $250 million office tower next to the GPO after finalising a government pre-commitment and appointing construction firm Built to the job.

The 24,500-square-metre GPO Exchange development will include 19 floors of A-grade commercial office space, a new ground floor foyer, retail precinct along with car parks.

It is understood discussions for a hotel operator are also underway.

While it is not the first hotel development for Greaton – it is developing the $700 million The Ribbon hotel and apartment project in Darling Harbour with Grocon – it will be the first new-build hotel for Adelaide in 25 years.

While he could not comment on details of the hotel, Mr Teng said Greaton's interests in hotel development, particularly in Adelaide, stemmed from its booming tourism industry and increased flights with Asia and the Middle East.

"There is heavy demand for rooms in the Adelaide market ... now that Cathay Pacific increased its daily flights out of Adelaide to six from five and China Southern has gone to five from three," he said.

Read more: http://www.afr.com/real-estate/united-v ... z5Bm7Nyn1S
Follow us: @FinancialReview on Twitter | financialreview on Facebook

[Will]

Why does the media always retort to the ludicrous suggestion that every new hotel proposed for Adelaide is the “first one in 25 years”?

How about the Crowne Plaza? Ibis? Rendeszvous? Mayfair Hotel? Playford Hotel?....

[[Shuz]]

I think what they meant to say was the first 5-star purpose built hotel.

There's been other purpose built hotels but at lower star ratings.

Yet another case of bad reporting.

[SBD]

I think what they meant to say was the first 5-star purpose built hotel.

There's been other purpose built hotels but at lower star ratings.

Yet another case of bad reporting.

I read it as the first Greaton Hotel built in Adelaide. The others aren't owned by Greaton.

[Algernon]

I read it as the first 5 star hotel on Victoria Square