[PRO] 292-300 Rundle Street | 68m | 21 Levels | Mixed Use

[A-Town]

Pelligra takes over Monument apartment project

It’s been plagued by delays, but a new developer wants work to start early next year on a luxury apartment project in the East End – with penthouses set to cost $8m.

Plans for a luxury apartment tower in the heart of Adelaide’s East End have been revived, with a new developer promising to start work on the project early in the new year.

Formerly known as Monument, the project on the corner of Rundle St and East Tce has been plagued by sluggish sales and a series of delays, but property developer Ross Pelligra is confident the market will buy into his new $105m vision for the site.

Pelligra Group has paid $12.25m to take over the 1350sq m corner site, currently occupied by dessert bar San Churro, the Sicily pizza restaurant and offices.

It’s planning to make minor amendments to the existing development approval, which was granted by the Development Assessment Commission (DAC) in 2017.

The previous $70m design included 74 high-end apartments across 20 storeys, and featured a striking “movable mosaic” through the use of adjustable architectural screens on the building facades.

Mr Pelligra, who owns the former Holden factory in Elizabeth, the Adelaide Giants, and a growing portfolio of commercial properties across Adelaide, said amendments would be submitted for approval in the next couple of weeks, and the project would take Adelaide’s apartment market to “another level”.

Included in the redesign will be a concierge service for residents and their luxury cars, and the most luxurious penthouses are expected to fetch a price tag of up to $8m.

“We’re going to rebrand it and we’re also going to look at how we can put a bit more style into it and give it a real uplift in the finishes,” he said.

“We’re going for that high-end product and that’s what I think Adelaide needs – I think this will set a major trend for the market.

“I think this area is the next mover and shaker when it comes to high-end apartments.”

The new plans come amid a boom in apartment projects in Adelaide’s East End, following the recent Realm and Adelaidean projects which have increased density in the precinct.

Singapore-based financier Mark Ebbinghaus and Adelaide developer Stephen Connor’s C Projects launched Monument in 2017 promising an “iconic” project in “arguably the most coveted address in Adelaide”, but it failed to get off the ground.

However, Mr Pelligra said he was committed to getting the project going early next year, and would retain one of the penthouses for his own personal use during business visits from Melbourne.

“It’s designed for the Baby Boomers moving in, the downsizers moving in and also the interstate corporates with all the business that’s going on in Adelaide at the moment,” he said.

“Being across the road from Lot Fourteen I reckon there’s an opportunity to attract those CEOs and people coming from overseas – that’s why I’m in a hurry to get it up.

“We’re going to build it and they’re going to come.”

Commercial Adelaide director Remo Russo, who brokered the sale to Pelligra, said it was a sign that eastern seaboard investors had “woken up” to investment opportunities in Adelaide.

"We're receiving heaps of inquiries in Adelaide from interstate groups because Adelaide is going to be the next great centre for investment – Melbourne and Sydney have reached their peak,” he said.

“I think the apartment market is going to pick up here because you’ve got a lot of people returning from interstate and overseas and they want to live close to the city.”

From: https://www.adelaidenow.com.au/business ... 2cc4c87d7c

Almost forgot about this one, will be good see it finally go up. Great for the East End.

[Nort]

Yeah, I assumed this one was dead. So long as residents don't fight against the festival area of this atmosphere more residential around Rundle Street should be great for giving it more life year round.

[SRW]

I had hoped this one was dead. Now I hope the 'minor amendments to the existing development approval' are actually quite significant design changes.

[NTRabbit]

I had hoped this one was dead. Now I hope the 'minor amendments to the existing development approval' are actually quite significant design changes.

They'd have to be to justify an $8mill asking price for the penthouses, even in this ludicrously unbalanced sellers market.

[Ben]

New application from Peligra.

292-300 RUNDLE ST ADELAIDE SA 5000
UNDER ASSESSMENT
Description
Construction of a 21-level mixed use building including offices, shops, residential dwellings, car parking and partial demolition and conservation works to State and Local Heritage Places

[Mpol02]

Ffs go away

[gnrc_louis]

Ffs go away

Why?

[Mpol02]

Adelaide residents aren’t conditioned I don’t believe, to understand that when you move into the city to live, it’s going to simply be noisy and you need to live with that. Venues, events, bars, restaurants all of it. If this development hinders any of that because they don’t like it, then I’d rather it not happen.

[gnrc_louis]

Adelaide residents aren’t conditioned I don’t believe, to understand that when you move into the city to live, it’s going to simply be noisy and you need to live with that. Venues, events, bars, restaurants all of it. If this development hinders any of that because they don’t like it, then I’d rather it not happen.

I mean, most restaurants aren't really open late enough for noise to be a major problem with them, and there aren't exactly a huge amount of live music venues or bars anymore in close enough vicinity to this development. Maybe at festival/fringe time sure, but for the most part I can't see noise being that big an issue here.

[gnrc_louis]

https://indaily.com.au/news/2022/10/21/ ... -st-tower/

[ozisnowman]

Oh dear we go again - too height, too short, too skinny, too fat blah blah. This group of NIMBY's should migrate out of Adelaide and let us get on with things.

From what i could see the proposed tower whilst tall is not crazy limits, also it has a reasonable podium level that seems to integrate well with existing buildings
as well as the main tower being set back compared to current buildings/street frontage. They seem to have done a great job in integrating and caring for the
existing heritage buildings - GIVE THEM A BREAK.

[gnrc_louis]

Oh dear we go again - too height, too short, too skinny, too fat blah blah. This group of NIMBY's should migrate out of Adelaide and let us get on with things.

From what i could see the proposed tower whilst tall is not crazy limits, also it has a reasonable podium level that seems to integrate well with existing buildings
as well as the main tower being set back compared to current buildings/street frontage. They seem to have done a great job in integrating and caring for the
existing heritage buildings - GIVE THEM A BREAK.

There’s definitely a proportion of people (over 60s mostly hah) who just hate any sort of high rise, period. Unfortunately, they’re quite a vocal group who for a long time have worked hard to stop fairly subdued developments such as this one.

[Algernon]

Lazy choice of materials: "glass goes with everything". Nope. The East End is brick. Absolutely crap and lazy design.

4 levels of car parking. Because car parks are going extinct apparently.

office space in the East End. Why.

"buh buh a contextual relationship with prminent buildings" : google translate bullshit->english "there's a couple of tall buildings a few hundred metres away, let us get away with one in a heritage zone"

Zero setback to Rundle Street. Ok sorry. maybe 3m.

I've seen some crap proposed in Adelaide in my life but oh my...

[dbl96]

Lazy choice of materials: "glass goes with everything". Nope. The East End is brick. Absolutely crap and lazy design.

4 levels of car parking. Because car parks are going extinct apparently.

office space in the East End. Why.

"buh buh a contextual relationship with prminent buildings" : google translate bullshit->english "there's a couple of tall buildings a few hundred metres away, let us get away with one in a heritage zone"

Zero setback to Rundle Street. Ok sorry. maybe 3m.

I've seen some crap proposed in Adelaide in my life but oh my...

Agreed, this is totally out of place where it is. There is no problem with some increased height per se here (to a certain extent), but the choice of materials is all wrong, and it sticks out like a sore thumb. They should be going for something like the aesthetic and bulk of the neighbouring East End Market redevelopment. Reduced height and bulk, and some elegant but classic brickwork to make it blend into its surroundings rather than attract attention to itself.

All that said, the design is a marked improvement on the previous proposal's.

[[Shuz]]

This should be rejected. The East End is a low rise heritage precinct. We should be preserving the character of the area not building yet another glass box. There's plenty of other sites in the CBD for that.