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

[Waewick]

that is true

but that alse reflects the depth in the market on both developers able to handle that level of debt and potential tenants.

There wouldn't be many Adelaidians (in the development game) able to sit on $80-100m whilst the locate tenants and given we still live in a city where the vast majority of tenants of these spaces are Government departments the likely hood of picking a decent tenant is also difficult.

It's quite possible that neither of the two parties in the joint venture for this development would've got financing approval had they decided to go at it alone.

The last point you bring up highlights how dependent Adelaide's office market is on government departments to get projects up and going. A significant chunk of City Central 1 is occupied by government departments, there's the SA Water Building as well. Most tenants in the Adelaide market are smaller firms or small operating centres of companies based interstate. There's a handful of companies based in Adelaide that have enough weight to justify a large new office building (e.g. Santos), but nowhere near as many as interstate. I do know one company that is located at 33 King William Street currently occupies 5 floors of that building, and they've recently had to take out space in Grenfell Street because of the rapidly growing Mining sector, so there are a few around.

That is really Adealide's major problems in terms of high rise density - I can't see that company looking to pay the required rental to have a new building built as it as the head lease.

We are a state of SME's which if they do grow beyond that , move head quarters to Sydney or Melbourne.

If someone can wave their magic wand and get not only to population density required but also the business comminty density requried we will start seeing things change around here.

but until then, new buildings will be about Government departments, the people that serivce them and the service providers for the SME's (Banks, Accountants, Lawyers)

[Ben]

7/24 have now sold according to yesterdays paper. Just a few more and we can see construction start

[Dvious]

Was just on their website yesterday, hopefully this gets off its feet soon, going to fill the gap nicely.

[skyliner]

Was just on their website yesterday, hopefully this gets off its feet soon, going to fill the gap nicely.

Dvious - can you supply the website so we/I can investigate also. Looking forward to this one - will really add a new dimension to KWS.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Dvious]

Not sure how old or new it is,

http://www.115kws.com.au/

But its just a site for the building, im really looking forward to this one, fingers crossed!

[IAintTouchin]

I saw some work being done on the site of this today. I have a feeling this is going to start up very soon,

I think it's this site?

[Will]

I saw some work being done on the site of this today. I have a feeling this is going to start up very soon,

I think it's this site?

What type of work?

[IAintTouchin]

I'm not one to be technical in describing but I saw like beams and people on top of those beams doing things with those beams

[Dvious]

Was there a crane?

This could be exciting, explain yourself son!

[serca]

I saw some work being done on the site of this today. I have a feeling this is going to start up very soon,

I think it's this site?

What type of work?

Im not sure if this is the site you were referring to but it looked like SWP on the ELECTRA HOUSE site on friday???? scaffolding was being erected

[IAintTouchin]

^^ Yep my bad. hah. It was Electra

[Dvious]

[[Shuz]]

Well, either way! I'm glad that something is finally being done at Electra House!

[Ben]

Are you sure it wasn't seating for the Christmas Pageant? there was lots of temporary scaffolding along King Willaim Street on Saturday..

[Dvious]

Drove past today and didnt see any activity on site.