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

[skyliner]

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.

I'm with you Professor. Money speaks all in the end - saving on dead end projects a high priority, but the salvation of such even higher to begin with. Physical evidence speaks it is all go - have to wait and see.

ADELAIDE - TOWARDS A GREATER CBD SKYLINE

[Will]

The fact that they are intending to install a crane is strong evidence that this project has not stalled. Why would you erect a crane if the project was to stall? Doesn't it cost money (i.e. rent) to have the crane at a building site?

[Pikey]

The fact that they are intending to install a crane is strong evidence that this project has not stalled. Why would you erect a crane if the project was to stall? Doesn't it cost money (i.e. rent) to have the crane at a building site?

Yes, a huge amount of money, thousands of dollars a week.

[UrbanSG]

Few cranes in this shot and 400 KW steel rising up, taken today from the south parklands:



Quick drive-by shot from today:

[ozisnowman]

This morning i saw the concrete pour arm working on the northern boundary, this project is
moving ahead but visually its very slow.

[Professor]

More steel columns going in this morning on the northern side. That area will be pretty well closed up with steel frameowrk in a few days.

Also the first deliveries of cliplock for use on the flooring have been made.

[Ben]

According to an anonyamous source the reason this building is so slow is the developer does not use any debt and finances the building entirley on his own money so as he gets money in he uses it to pay for more building works.

[Pikey]

How's it looking now Ben for us folk who are stuck on the other side of the country?

[Ben]

How's it looking now Ben for us folk who are stuck on the other side of the country?

I'll try and take a pic today but will wait until this weather clears. Don't think much work will be happening today.

[Norman]

I'm in the process of re-organising my Photo gallery, so here are some photos from Monday:

[joshzxzx]

Awesome pics, Its good to seer that this one is still going ahead- even if it is slow

[ozisnowman]

The pace of development on this one may seem misleading. By the time the crane comes
in it will probably appear like 5 levels are in the process of being completed all at the
same time.

From the photos it appears there is the base of the core and that the crane should
hence not be too far off.

[AtD]

According to an anonyamous source the reason this building is so slow is the developer does not use any debt and finances the building entirley on his own money so as he gets money in he uses it to pay for more building works.

That's not very reassuring!

[skyliner]

Depends on who it is. But in the context of the current economic climate, I take your point.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[UrbanSG]

Saw a suit and builder out on King William Street this morning and it looked like they were discussing where the hoardings will go up eg over the car parks along King William Street. Hopefully the hoardings go up soon so some real progress can occur. Lots of steel flooring is ready to be laid out too.