[ City Central ] Masterplan Thread

[skyliner]

Interesting capital comparisons, not to mention cc4.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Will]

Found something on the mysterious tower 4 here:
http://www.knightfrank.com.au/content/u ... sdev10.pdf

It says that Tower 4 (141 King William St) is going to be 30,000 sqm. Because 51 Pirie St is 31,000 sqm and 98m, the evidence is that it may be under 100m

Not necessarily. The tower 4 site is about half the size of the 51 Pirie Street site.

[Ben]

I dare say Aspen are in need of money judging by recent articles and this sale:

Type: Development Application Received
Application: Number DA/325/2011
Lodgement Date: 21/04/2011
Location: 28-30 Franklin Street, ADELAIDE SA 5000
Description: Installation of a 'For Sale' sign to the existing building
Applicant Name: ASPEN GROUP LTD

[UrbanSG]

Just found this full and high quality version of the City Central masterplan video shown on previous pages. The final stages are going to be the best as expected, hopefully they turn out as planned:



More information about the development on the Scharp website:

http://www.scharp.com.au/commercial/city-central

In one of the slides they refer to the tower facing King William Street as 15 levels and the other as tallest tower as 26 levels.

[Will]

That looks impressive. Thanks for finding and sharing UrbanSG!

[[Shuz]]

That is going to be one dense little cluster of buildings right there!

[AG]

Haha, gotta love how they mucked around with some brand names in the retail component. Cuggi and Kalvin Clein, they don't sound like Gucci and Calvin Klein at all...

[AtD]

That looks fucking fantastic. I really hope those glass lift shafts get built. The lobby for the large tower looks so open as well, practically outdoors. Lots of laneway activation in this one.

[jk1237]

gee is does look great. Brilliant in fact

[rhino]

I'd give it 2 thumbs up if I could find the right emoticon....

[SRW]

That looks fucking fantastic. I really hope those glass lift shafts get built.

Yes please!

[Omicron]

Unless they're party poopers like the RenCen on Rundle Mall, who would prefer no-one at all in their ugly old building instead of capitalising on the interest there once was in riding the glass lifts.

[Will]

From the Advertiser:

Aspen extends profit by 39 pc

GIUSEPPE TAURIELLO From: AdelaideNow August 29, 2011 4:18PM

ASPEN GROUP, the developer of what will become Adelaide's largest office building, has reported a 39 per cent increase in full-year net profit.

Announcing the company's $17.4 million result yesterday, managing director Gavin Hawkins said the result reflected a successful delivery of the company's strategy of "improving the property portfolio quality, executing on our key funds management delivery requirements and extending our core debt facilities."

"Securing Telstra Super as a co-investor in the ATO Office Building is a tremendous result for the group, reinforcing our belief in the value of the property and the long term income stream it will generate," he said.

"We also see that a strategic alliance with wholesale investors, particularly major super funds, will be significant in the long term as we look to grow our portfolio of assets."

Aspen offloaded 50 per cent of its ATO development in July, in a $152 million deal with corporate super fund Telstra Super. The tower, which has 98.5 per cent pre-commitment from the ATO and Australia Post, is approximately 30 per cent complete and on schedule for an October 2012 completion date.

Aspen also sold MTAA Super House during the year for $81 million, 21 per cent higher than the $67 million the company paid for the building in June 2006 but $3 million lower than its latest independent valuation in December 2009.

Despite reducing its exposure to the Adelaide market during the year, Aspen has more than $300 million of development in its five-year plan for the city, including its $214 million Tower 4 office development which is slated for commencement in the 2013 financial year.

The company said it expected 2012 to deliver a further improvement to the company's bottom line on the back of an anticipated 5.8 per cent increase in rental within its property portfolio and continuing sales of residential lots within its Aspen Living residential development in Western Australia.

The company expects its operating earnings before tax to rise by 7 per cent in 2012, to $35.75 million. Aspen shares closed 3.7 per cent higher yesterday at 42c

[iTouch]

Good news, they deserve it

[Omicron]

Now, is Tower 4 the one that looks like all the other ones, or the one that looks like all the other ones?