[COM] 374-400 King William Street | 47m | 11lvls | Office

[skyliner]

Loud, I read the AFR on 16/7 and found that Adelaide office vacancy levels are at 4.7%, down from 5.7% in the last quarter - it suggests to me the demand for space is there - so would be surprised if this one stops altogether.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Professor]

This is unlikely to be a stalled building. They do not slowly stop as the money dwindles, the financial institution removes teh funding and the building just stops.

I am away from Adelaide until this coming week but think that I will brave the winter elements (ie on the outside) and venture into the warm lunch room to see what I can find out from the site staff. It seems that this is just a slow build with not enough people or technology applied. This building would be a nice entrance to south KWS so hopefully it is just a different kind of build.

[Pikey]

It definately hasn't stopped. More steel on the western side has been added, which throws my construction style theory out of the window!

[loud]

Im just reporting what I have heard...

Also, just because vacancy rates are dropping, it doesn't mean you can just knock up a building and expect tenants to flood through the door! You need to remember that these rates are calculated based on the occupation level of existing buildings. If you add extra floor space to these numbers (in the form of a new building) without having a tenant pre-committed, the vacancy rate will obviously go up.

[omada]

Loud: Im just reporting what I have heard...

what..from some bloke at the local fish 'n chip shop?

[Professor]

Lots of action today erecting more structural steel on the eastern boundary.

Not a rumour - a drive-by...

Will try to get to the site this week and ask how they intend to get the next 6 floors built on top of what is becoming a fairly constricted site.

[loud]

Loud: Im just reporting what I have heard...

what..from some bloke at the local fish 'n chip shop?

Grow up!

Just because I have suggested that a development may have stalled / be stalling, it doesn't mean you have to go and wet your pants about it and make immature references to my input to this forum. So what if it stalls? Development has stalled in Adelaide before, why can't it stall again?

[Professor]

It has not stalled

Best to go down there and have a look.

While it may be slower than an Adelaide Crow's rover, is still under construction.

[loud]

It has not stalled

Best to go down there and have a look.

While it may be slower than an Adelaide Crow's rover, is still under construction.

Ok, so it hasn't stalled yet. I still understand that it will though...


ps... i don't mind if im proven wrong on this, but lets wait and see, ok?

[skyliner]

Im just reporting what I have heard...

Also, just because vacancy rates are dropping, it doesn't mean you can just knock up a building and expect tenants to flood through the door! You need to remember that these rates are calculated based on the occupation level of existing buildings. If you add extra floor space to these numbers (in the form of a new building) without having a tenant pre-committed, the vacancy rate will obviously go up.

Appreciate your input.

I think you know what I'm getting at with my comment about vacancy rates - demand - if a city is growing and experiencing healthier economic times such as Adelaide is.(take a look at the mining thread). I do understand how the figures are worked out and how they are used concerning new catering for resultant demand. Eventually it all comes in cycles - the last of such beingn the 1980's (as I am given to understand).

Another tangential factor is the willingness of some builders go speculative in good times where nedd for space is thought definite in the future. this I understand has happened with 88 coglin (Off Googer). I stand corrected - may be wrong. This building is under a speculative construction to some degree. (see earlier in the thread)

Take a look at Perth concerning all these factors - there does seem to be a similarity.

IMO vacancy rates and associated trends area good indicator as to need for more office buildings andor hotels.Eventually the construction WILL raise levels ans so peter off - but not yet).

I REALLY hope this one is'nt 'going to the wall' so to speak. (Too much evidence around to say it will stop).

BTW - Ben - another piccy possible soon???. You do a great job for such people as me in the outer antipodes.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[joy]

Hopefully this project will get going properly as are the Wave, Edge and Hills nearby. We all need this Southern Precinct to further develop and add to the Southern Adelaide City Environment. Plans for the Tower behind the Brecknock are still 18 months away. But they are very likely to happen.

[Professor]

Just talked to one of the guys on site. There is more steel going in today.

He said there would be a hammer-head crane, similar to the one for wave / edge, installed to do the top half of the steelwork and the rest of the building materials etc.

The crane will be located in the centre of the building (in the "guts", to quote him!) and will be installed in 5-6 weeks.

[UrbanSG]

Darn. This site really deserved 2 cranes considering its size. So still another month to 2 month wait for a crane. They really are taking their time with this development.

They need to put some covered walkways up along the street frontages too so they can actually do weekday work on this part of the building instead of closing the footpath off on weekends and doing it then.

[Professor]

I agree with you on what is required, but this is a pretty ordinary project site in comparison to the two adjacent ones.

I think the crane will be hired (ie something like Nick's Cranes) as this project seems to comprise a pretty loose assembly of sub-contractors with little centralised organisational leadership. Not many guys on site at the one time and very slow work in the non-steel erection section of the building schedule.

Still, it is moving ahead slowly and the loooooong wait for a new crane will only help increase the anticipation!

[skyliner]

I was expecting 2 cranes too. Good to see it is as hammerhead. Never saw any in the 1980's boom. Like their style - very common in Bris. Wonder if it saved them in expenses by not using a crane thus far?

6 - 8 wks seems a long wait before a crane is put up - in keeping with the current project history I suppose.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE.