[COM] 413 KWS Vue on King William | 89m | 28Lvl | Residential

[AtD]

Was it in an ad or an article? A scan would be nice.

Sounds promising. After all, this building has a tenant.

[Wayno]

Was it in an ad or an article? A scan would be nice.

Sounds promising. After all, this building has a tenant.

i think it was an article. I don't have the newspaper, it was at my local cafe. Anyone else willing to scan...

[rev]

I'm sure someone picked up todays paper and can confirm and scan it? Would be good for this one to end up going ahead.

[Just build it]

I can't scan it but I have it in front of me now. It's a half page story in the Commercial Property section about the general state of commercial property prices and the unease in the market surrounding new development. To fill the photo space they've used the original Hills HQ render we've all seen elsewhere in this thread with the caption:

'The proposed King William St headquarters of Hills Industries, a planned development to start this year.'

There's no mention of Hills or any other development in particular within the story itself. I hope they know something we don't but wouldn't be surprised if it's just another case of the Advertiser being a very poorly edited newspaper TBH.

[Jamo]

Sorry to dampen enthhusiasm on this one but I can confirm that the builder HY, the developer Hills andthe potential JV partner Walker group have ALL closed their books on this one at least for the immediate future!

So nothing anytime soon and another vacant block to be turned into a car park, one would be guessing .

[Ben]

Sorry to dampen enthhusiasm on this one but I can confirm that the builder HY, the developer Hills andthe potential JV partner Walker group have ALL closed their books on this one at least for the immediate future!

So nothing anytime soon and another vacant block to be turned into a car park, one would be guessing .

It can;t be turned into a carpark as the pilings and foundation work has already aprtially been complete.

Also can I ask what your source is?

[loud]

Sorry to dampen enthhusiasm on this one but I can confirm that the builder HY, the developer Hills andthe potential JV partner Walker group have ALL closed their books on this one at least for the immediate future!

So nothing anytime soon and another vacant block to be turned into a car park, one would be guessing .

It can;t be turned into a carpark as the pilings and foundation work has already aprtially been complete.

Also can I ask what your source is?

I have heard the same as Jamo, the latest being that Hills have appointed tenant representatives to assist them in finding leased accomodation elsewhere.

I think that if nothing is going to be developed on this site for the next few years, it would be worth filling in the hole. Why? 1) insurance is cheaper on a flat piece of land than one with a hole in it. 2) I am not a structural engineer but i cant imagine a big hole capable of catching a fair bit of water would be good for surrounding developments. 3) at least car parking will provide some form of income for the property.

[Omicron]

A shame. It would have done so much for the view of the CBD as one heads north-east along Anzac Highway, in which Optus is so dominant but remains surrounded by little else.

[Jamo]

Sorry to dampen enthhusiasm on this one but I can confirm that the builder HY, the developer Hills andthe potential JV partner Walker group have ALL closed their books on this one at least for the immediate future!

So nothing anytime soon and another vacant block to be turned into a car park, one would be guessing .

It can;t be turned into a carpark as the pilings and foundation work has already aprtially been complete.

Also can I ask what your source is?

Happy to oblige Ben,
I play sport with the development mgr of Walker group, know the mktg mgr at Hills and I work for HY.

So as a carpark is out of the question, a bloody great hole until something is built; a la the creche site which is now the Thomson Playford building. That was a hole for 15 or so years.

[Edgar]

Read in the paper yesterday that it was canceled as one of its partner had pulled out due to the economy crisis and that Hills owed millions of dollars to the developer (or something like that) in the planning, approval, and design fees. And they are suing Hills in court for that matter.

What a shame and a disappointment to the start of 2009.

[Professor]

The Hills are alive with the sound of lawyers?

Pity, but it sounds like a really flakey leasing, funding and management arrangement from the start.

[Ben]

Permanent fencing is being erected this morning.

Seems like a dead patch until the next boom. Atleast this won't turn into a carpark. The unfortunate thing is in the next cycle i don't think we can hope for anything higher then the previous proposal if anything it would be less height but this is all speculation.

[Ben]

From The Advertiser:

Hills may face court
CAMERON ENGLAND, CHIEF BUSINESS REPORTER

March 25, 2009 11:50am

HILLS Industries may be taken to court over a payment dispute with JPE Design, stemming from the stalled $90 million 413 King William St development.

A statutory demand from architectural firm JPE Design demanding payment of $384,323 from a company called 413 King William St, half owned by Hills Industries, has been set aside in the Supreme Court.

JPE director Adrian Evans said this week his company was still assessing its options, but was likely to take the matter to a full trial.

"We're looking at it obviously and a number of other people, the consultants and the builder, are looking at actions I think, so we've got to consider our position and I think that's where we'll head,'' Mr Evans said.

The dispute revolves around payments for work done on the project, which was shelved in September of last year.

This followed Goodman International pulling out of the project in July because of the changing economic conditions.

Hills has always maintained that it has paid its debts in full to all parties concerned.
The development was to have been Hills' new head office.

[Ben]

From The Advertiser:

Hills-Goodman venture in costs stand-off

SARAH MARTIN

October 06, 2009

HILLS Industries and Goodman International are attempting to negotiate a settlement in a more than $1m claim against them for unpaid invoices.

The two companies were involved
in a joint venture business
to build Hills’ 15-storey headquarters
at 413 King William St, but the
$90 million project was scrapped
when Goodman withdrew from
the project late last year.

Architects JPE Design Studio
and the engineering firm formerly
known as Dare Sutton Clarke
claim work done for the project
from July to September last year
remains unpaid.

Documents lodged by JPE and
Dare Sutton Clarke with the Supreme
Court of SA claim 413 King
William St Pty Ltd has “failed, refused
and neglected’’ to pay for
services rendered.

Dare Sutton Clarke claims outstanding
invoices, damages from
loss of profit, interest and costs
totalling $333,550.

JPE claim it is owed $1,128,906
which translates to lost profi t of
$395,117.

JPE claim damages for the
profi t loss along with $384,323 in
unpaid invoices, lost interest and
court costs.

The statement of claim says the
joint venture’s refusal to pay JPE
and Dare Sutton Clarke is “unreasonable
and unconscionable’’ and
has resulted in Hills and Goodman
being “unjustly enriched’’.

In its defence, Hills and Goodman
say they believed the engineering
agreement signed with
Dare Sutton Clarke had been terminated
in May 2008 and they had
not received invoices for services
after that date.

The joint venture also rejects
the claim against JPE, saying it has
paid all outstanding invoices.
JPE director Adrian Evans says
he is hopeful of a resolution when
the parties meet for a settlement
conference in mid November.

“Our position is pretty clear -
we are hoping it will be resolved
but if it can’t be, then we’ll see
them in court,’’ he says.

Hills managing director Graham
Twartz did not wish to comment
on the matter saying it was best
dealt with in the courts.

Court documents also reveal
the proposed redevelopment at
413 King William St first struck
diffi culties in February 2008 when
the project was estimated to be $5
million above budget.

An email sent to JPE director
Adrian Evans at the time says
without cost savings “we have
buckley’s of reaching the target’’.

[skyliner]

i quickly glanced at The Advertiser today (obviously had to avert my eyes to avoid turning to stone) and it had a render of this Hills House building with the caption stating construction is due to start in mid-2009?!? is this correct?

Anyone got any comments about this - interested to know.

ADELAIDE - TOWARDS A HIGHER CITY SKYLINE