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

[richards]

You know that Adelaide is struggling when the people there get excited about 11 storey buildings !!!

[Jim]

I went past this site last night and realized what a huge impact this building will have to the south. Seems to be a lot of negativity about the speed of its progress but its 10x faster than the North Tce upgrade!

[Will409]

You know that Adelaide is struggling when the people there get excited about 11 storey buildings !!!

I know you are banned now but the reason why we are excited is not because of the height of the building but where it is. The visual impact at this point in time will be tremendous.

[skyliner]

Spot on Will 409! The impact is enhanced by it's length a great deal. (90m). Appears to take 2/3 of the block in piccies - not many bldgs do this.The area. Around 20000sg m approx, is also indicative of a sizeable bldg.

I'm always excited about this one due to it's style and potential impact.(Location).

ADELAIDE - TOWARDS A GREATER CITY SKYLINE.

[Will]

I wonder whether this will be a repeat of the Commonwealth Law Courts 'fiasco', in that because they used just 1 hammerhead crane instead of 2 'normal' cranes, they took longer than expected to complete the building and it ended up costing around $20 million more than expected?

[UrbanSG]

Finally, I was wondering how long it would take them to get some hoardings up so they don't have to close off the footpath and do most of the work on weekends. It doesn't look like this one has stalled, but slow, yes!

From the ACC website:

Type Application: Assessed on Merit
Application Number: DA/583/2008
Lodgement Date: 21/07/2008
Location: 400 King William Street, ADELAIDE SA 5000
Description: Erect B type hoarding with incorporated gantries over King William and Gillies Street footpath for temporary period.

[ozisnowman]

Saw the guys up there on a lifter attacking one of the beams to a pillar, so they definetly havent stopped
their just slow as.... there probably waiting on workers to finish another project and a crane etc....

[loud]

Saw the guys up there on a lifter attacking one of the beams to a pillar, so they definetly havent stopped
their just slow as.... there probably waiting on workers to finish another project and a crane etc....

if they have stalled - it could be that they are using all the materials they had already purchased, etc... and then will wind things up until they find themselves a pre-commiting tenant...

[Jim]

Gee you guys are giving this one a hard time, its sill progressing 10 x faster than the North Tce upgrade and if it was a vertical building, I think we would be impressed by the sqm of floor space already constructed.

[Professor]

IT HAS NOT STALLED!

[loud]

IT HAS NOT STALLED!

The way you are reacting to negative news about this development, you could only possibly have a vested interest in this development, know something factual that you are not telling us, or just really dont want to see it stall. Which one is it?

For your information, Wallmans Lawyers (one of the only known tenants interested in this development) are back on the market for space. It is reported that they are back on the market because the developer (Samaras Group) is apparently having difficulty achieving sufficient pre-commitment for the development to go ahead.

Also for your information (if you didn't know) Samaras does structural steel for a living... have you noticed how nearly all that has happened on site has involved structural steel?

But what do I know, it is all probably just a big coincidence...

[Professor]

I talked to the builders on site Wednesday.

I have seen buildings stall in previous times, when the money runs out. Nobody does any more work at all. The various subbies stop any inputs and suppliers stop providing any new materials. The workers stop immediately and get other jobs ASAP. There is such a shortage of building workers in Adelaide that they would just jump ship if they thought the project was at risk and they could lose entitlements

I don't think that they are using spare materials and building on to a point then to walk off. The holding costs would be extremely high. The financing entity would just pull the pin on the advances.

As the building will not be completed until mid next year (at the earliest) there is plenty of time for committments for rental.

Let's revisit it in a month if / when the crane goes up. In the meantime, I just hope that they start some serious non-steel work soon, so that the basement is sealed with concrete. Another decent rain and they will be back working in the mud.

[AtD]

if they have stalled - it could be that they are using all the materials they had already purchased, etc... and then will wind things up until they find themselves a pre-commiting tenant...

Then why would they go to the expense of the ACC application Will mentioned? If it was in financial trouble, they'd be liquidating the materials and ceasing all works. It makes no business sense to pour money into construction if it is dead.

[Ho Really]

...It makes no business sense to pour money into construction if it is dead.

Dead and stalled are two different things. Which one is it?

Cheers

[Pikey]

Well, judging by all of the workers on site and the steel being installed right now, it sure doesn't look stalled to me.