[COM] 115 King William Street | 91m | 26lvls | Office

[PJK1]

Presuming the finished product is of resonably high quality, this is presicly the sort of sleek and relatively tall development Adelaide needs. There are more than enough low/medium rise, bland stumpy buildings in the Adelaide CBD - via the implied mandate of the ACC.

Personally i hope this one gets built and others like it - especially if they are 100m+

[Will]

Must... stop... reading... AdelaideNow... comments... section... [aaarrgh]

Even after all these years, I can't get over the nature of many of the comments on this story in today's news:

- it's too tall, everything in Paris is 6 stories high (huh? La Defence district anyone... and Adelaide is not Paris for better or worse)
- it will be our sixth tallest, therefore it must be really, really tall.. in fact, too tall (yeah because Adelaide's other 'tallest' are sooo tall... but what we do have surrounds this one anyway)
- it will add too much office space, what about old empty buildings! (never mind this is on a tiny plot, and old office space costs a lot to bring up to high green star levels)
- it will add too many shadows! (yeah because its not like they haven't addressed that issue in the planning documents).
- they can't possibly build it for $17m! (again, investigate the plot size... not that difficult).

It's not the fact I disagree with them so much as the fact there's so much factual ignorance and if they are on the internet, they could google as easily as I could to clarify reality.

Tell me about it. The worst comments I read relate to this myth that there are plenty of 'empty' office buildings in Adelaide.

Firstly, developments such as these are built by private enterprise for profit, hence if there was no demand, they would not bother with undertaking the development in the first place, but secondly, there are no 'empty' office towers in Adelaide! I realise, people are going to say "what about 2 KWS and Gawler Chambers? Yes, they are empty, but they are in a completely different league. Companies these days want to be in modern, green buildings, not 100 year old buildings which lack the comforts and technology of today. There are no empty office buildings in Adelaide. People that say so are probably, boring old people who live in some outer suburb and whose last trip into the CBD was in 1994.

[iTouch]

I got to say though, if you compare the positive Adelaidenow comments about the development. It outweighs the negatives like 6 to 1. I'm not a big fan of Adelaidenow commentors but for once their stupid little minds have kind of got it right

[Benski81]

I do have to ask though, can this project really be completed to an acceptable standard at just $17M? We all know that in life you get what you pay for, how is it they've managed to keep the cost so low?

It's only a 6,150sqm building, which is quite small.

That's true and I had the same thought but then it went through my mind that given design requirements these days (like energy efficiency etc) the costs of producing a building is quite high which is why $17 mil sounded so low.

I think the good thing about this project is that it does appeal to a more boutique market and by increasing the office supply it can help keep rents down allowing smaller organisations to move into the city and hopefully help to reinvigorate the CBD. So I'm all for it.

[AtD]

Now the $17 million question is do they have a tenant?

[Will]

Of course it wont cost $17 million. The fees developers pay to the council are dependent upon the cost of the development. Hence if you undervalue the development you pay lees fees.

[skyliner]

Just as long as ACC don't get at it!! It's sleek,it's tall, it breaks out of that 18 floor syndrome evident everywhere and not so big it can't quite easily be filled. I'm expecting to see this one built.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[SRW]

Must... stop... reading... AdelaideNow... comments... section... [aaarrgh]

Even after all these years, I can't get over the nature of many of the comments on this story in today's news:

- it's too tall, everything in Paris is 6 stories high (huh? La Defence district anyone... and Adelaide is not Paris for better or worse)
- it will be our sixth tallest, therefore it must be really, really tall.. in fact, too tall (yeah because Adelaide's other 'tallest' are sooo tall... but what we do have surrounds this one anyway)
- it will add too much office space, what about old empty buildings! (never mind this is on a tiny plot, and old office space costs a lot to bring up to high green star levels)
- it will add too many shadows! (yeah because its not like they haven't addressed that issue in the planning documents).
- they can't possibly build it for $17m! (again, investigate the plot size... not that difficult).

It's not the fact I disagree with them so much as the fact there's so much factual ignorance and if they are on the internet, they could google as easily as I could to clarify reality.

Tell me about it. The worst comments I read relate to this myth that there are plenty of 'empty' office buildings in Adelaide.

Firstly, developments such as these are built by private enterprise for profit, hence if there was no demand, they would not bother with undertaking the development in the first place, but secondly, there are no 'empty' office towers in Adelaide! I realise, people are going to say "what about 2 KWS and Gawler Chambers? Yes, they are empty, but they are in a completely different league. Companies these days want to be in modern, green buildings, not 100 year old buildings which lack the comforts and technology of today. There are no empty office buildings in Adelaide. People that say so are probably, boring old people who live in some outer suburb and whose last trip into the CBD was in 1994.

Ok, so you rightly bemoan the calibre of comments on AdelaideNow, and then finish your own with the same generalised nonsense that prevails there? I hope it was added for comic effect...

[iTouch]

is it really just 86m? 25 lvls is an awful lot to cram into 86m

[AtD]

The Tiser is saying this is approved now.
http://www.adelaidenow.com.au/news/sout ... 5890500704

The article itself doesn't say anything we don't already know.

iTouch: 3.4m per floor is typical of an office building.

[ghs]

They still have to find tennants which will be a long process given that its a fairly big building (for adelaide).

[Will]

They still have to find tennants which will be a long process given that its a fairly big building (for adelaide).

It's a big building height-wise but not space-wise. It only offers around 6200 sqm2, which is not big at all for Adelaide.

[contractor]

Of course it wont cost $17 million. The fees developers pay to the council are dependent upon the cost of the development. Hence if you undervalue the development you pay lees fees.

You don't think the ACC will be onto this given it's high profile? They audit development applications to stop this occurring. But I think your right, it will cost much more than $17 million. After all, the original application was in 2006.

[Will]

Promising news. From the Advertiser:

Start date for 25-storey office tower

SARAH MARTIN From: The Advertiser July 13, 2010 8:16PM

DEVELOPERS of King William St's newly approved office tower say they are confident of starting construction next year.
The property was approved by the State Government's Development Assessment Commission on Monday, overruling an earlier recommendation by the council's development panel to block it.

The new 115 King William St development, opposite the tram stop near the corner of Waymouth St, will comprise a 25-storey building standing 86m high, the city's sixth tallest.

Unlike most office towers currently mooted for the Adelaide market, the development is not seeking a large pre-commitment from the market in order to build, choosing instead to offer the building's smaller floor plates strata-titled.

The spokesman for the development's joint venture Brinz Holdings and PMF, Andrew Foti, said he was confident of securing tenants for the building.


"There are limited opportunities to acquire quality space of this calibre and size that will appeal to both owner occupiers and investors - typically if you wanted smaller size floor plates you are limited to C and B grade stock," he said.

"We will be going to market very soon and offering strata-titled floors for sale, and believe there is strong demand for this product." Mr Foti said he anticipated construction would take 12 to 18 months, with the building completed by late 2012.

Jones Lang LaSalle has been appointed to market the property.

"There really isn't any comparable product on the market nor is there likely to be for some time," Con Kavooris, of Jones Lang LaSalle's sales and investments team said.

More than six approved major developments are yet to be built in Adelaide at the moment, awaiting tenant pre-commitment.

[ghs]

I am sceptical about this one starting next year, but anyway we should be in for
a good year next year in the CBD.

We have the medical research instituite on North Terrace, Harris Scarfe, CC8 which are definitely going ahead.

Then there's this, globe and Uno apartments and a couple of others as possibilities.

Some of these developments will have 2 cranes.