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

[AtD]

Yay perspective! For a moment I thought the boom had been taken down.

[loud]

***Warning: Some may view this post as negative, it is NOT my intention. I am just trying to keep the S-A community informed***

A quote from a daily publication I subscribe to (received last night):

"Wallmans Lawyers is yet to make a firm decision on whether it will relocate to 400 King William Street in the Adelaide CBD. Despite initial construction work already started onsite for the new office tower, other sufficient pre-commitment is yet to be achieved to guarantee the building being completed."

[Professor]

Jesus "loud"

give it a break.

They have just installed the crane at a cost of hundreds of thoussands of $$$$$$$$$$$$$s. It is flying up now.

[loud]

Jesus "loud"

give it a break.

They have just installed the crane at a cost of hundreds of thoussands of $$$$$$$$$$$$$s. It is flying up now.

I wondered how long you would take to come out of the woodwork...

I have full faith that this building will eventually be completed, but I also find it interesting that their main pre-commiting tenant is feeling nervous enough about the development to feel that it is prudent to go back out to market.

In the context of the current market it is interesting to see the difference between private and public money... Private developmers (such as this) are able to carry on irrespective of whether they have sufficient pre-commitment, having to comply to investment-return guidelines set, etc...

Public money on the other hand, (such as Hills just down the road) where they appear to have sufficient pre-commitment, have to comply with investment-return guidelines, etc and can't seem to go ahead with as much gusto...

[how_good_is_he]

I reckon it comes down more to the banks/financiers who can make or break the deal, and if the tenants fall over, they can pull the pin. However, if you have got your own money, you can do what you want.

[Professor]

I don't hide in the woodwork old son - I am here all the time!

The building appears to be progressing well, at last. There is no sign of stoppage and in fact the Hills office has delayed could help Edge and this one re tenants.

I have no other "inside" information other than to look at the site regularly for progress and some fairly wierd construction methods.

I just get tired of the negativity about Adelaide generally and this site in particular. The building, if the renders are accurate, will transform the entrance to KWS south.

This lawyer pull out is the same leasing story from 3 months ago and there has been no impact on construction.

So how about we wager $50-100 on the outcome. If the building stalls and the site works stop because of lack of finance or whatever, you win. (This does not include strikes etc or other building industry / union related stuff that goes on). If the building gets completed without financial / contractor stalling, I win.

Any winnings go to a charity of our choice (mine will be the Hutt St centre). That will maintain my interest over the next 12 months.

Your call.

[loud]

I will never put my money behind anything to do with property... its bad enough that I work in the industry, let alone making bets on it!

Anyway, I believe that the development will ever eventually be completed, it is just going to keep bumbling along, stopping for a while, starting for a while, stopping again, etc...

I think the reason for the slightly unconventional construction method has something to do with the fact that the owner/developer's core business is that of structural engineering, steel construction and cranage services... Thus the reason that the only plant and materials of any signicance on site so far have been cranes and steel...

[Professor]

Fair enough!

I think the wierd construction is more to do with the builder. The same pattern occured at Lot 8, with not a lot of sophistication evident in their consdtruction methods or resources.

Lots of action there at 374-400 this morning, but overshadowed by the immense efforts that are underway with building the Wave and Edge. Now that's how to construct a building!

[skyliner]

Any updates on this one since Loud's comment? Have they raised up any section of the next 5 levels with the steel beams (like they did the first 5 floors)?

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Will409]

Went passed on the tram earlier today and the steel beams look as if they are still at the same height but there has been an extensive amoutn of floor frame and concrete work recently with concreting currently taking place on the ground floor.

[Ben]

From today. Big concrete pour this morning.

[skyliner]

The sheer length (hence potential bulk) of this building never ceases to impress me. It will appear as somewhat of a wall - did some pacing against an 11 floor bldg in Bris CBD yesterday and found it would cover the entire block here (Up Edward St between Queen and Ann for those who know).

ADELAIDE - TOWARDS A HIGHER CITY SKYLINE

[UrbanSG]

Fair bit of work has been occuring around the core area this week. Pic taken today with Edge as well:

[UrbanSG]

This one is progressing well now. Concrete pours are becoming a regular feature and now that more floor area is being laid the true scale of this project is being realised from ground level. Walking along King William Street opposite this building its scale is huge, unlike what we are used to in Adelaide.

On a side note the workers have started parking in the 15 minute zones in King William Street adjacent the site near the Post Office (now they have removed all the other parking). They all got tickets this morning and didn't look to happy when they all went and found them and I heard them whinging to each other. What do they expect? Everyone else has to follow the rules there. I am no fan of parking tickets myself but fair is fair.

[AtD]

Especially considering there's a big fat parking tower right next door.