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

[skyliner]

Two points
A. If SA water had two cranes at half the size of this one, I can see 2 - 3 on this. A huge ground area (hence plate size. Will have a massive presence in KWS Sth.

B. I'm wondering about the prospective tenancy given the speculative nature of this building and volatility of the share market/ASX at present - lost 24% of value over 12 days -very scary. With the US debt such that it is it was amazing how Bush could call up so much, but even with that injection much more instability expected.

Does anyone have any insights on the above paragraph? Is there an economist/finance controller/accountant on the site somewhere?

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Omicron]

Thank goodness that frightful carpark behind this site will be blocked from view.

[Professor]

The share market collapse will be a transient thing, by the time the building is complete the share market problems will be largely a memory to most institutional investers. Most Australian banks exposed to the US bad loan market will continue to recoup their loses by simply raise their interest rates independant of the reseve bank.

The main drivers of the SA economy are some manufacturing, increasingly defence related work and the mining employment, incldinding the support services required to maintain basic supplies / services and technical expertise. As an example, there are 1300 Army / defence mechanised personnel plus their families transferring from Sydney and into Edinburgh, to be known as a "super base". The tenders for this Edinburg construction work (in the Australian a while ago) totalled over $800m. And if the drought breaks this spring, there will be some good agriculture income for the state. Plus a decent amount of inward migration for the first time in many years.

These positive pressures will maintain the demand for services, accommodation and leased space. Hopefully the mining will deliver some reasonable amount of local skilled jobs and also some spin off into regional employment etc. I wouild think that investing in CBD office accommodation would not be as risky as it appears on the surface.

[UrbanSG]

The childcare centre leasing 2,000 square metres of this building seems to be the pre-commitment that has started this project as far as we know. Signs have gone up today around the site's fencing advertising the childcare centre and its opening in 2009.

[skyliner]

The main drivers of the SA economy are some manufacturing, increasingly defence related work and the mining employment, incldinding the support services required to maintain basic supplies / services and technical expertise. As an example, there are 1300 Army / defence mechanised personnel plus their families transferring from Sydney and into Edinburgh, to be known as a "super base".

Did not know this Professor. Excellent to hear.

On the finance front, many institutions have already been bitten, but I agree, resource/defence driven economies stand a good chance of weathering the current economic storm. But bear in mind, SA has the unenviable reputation of succumbing early to economic stresses. Personally I thingk there will be a slowdown, but SA should recover without serious losses. (BRW and Financial Review indicators would support this).

Another question - on looking at the original renders, it appears that the building will not be the full length of the Repco block - there appears to be a 2/3 story section at the north end about 30 m long. Can anyone clarify?

Lastly, good to see the bldg moving ahead.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Ho Really]

...I wonder if it will be steel frame construction like Kyren Pty Ltd's other project at Coglin Street...

By looking at your photos I would think so. A glass (aluminium windows) and steel building.

Cheers

[Will]

Good news regarding this one.

The developer has lodged an application with the ACC to increase the height of the building, introduce a basement level, as well as other minor amendments. The good news is that the ACC has designated these changes as being of a Category 1 nature.

[Omicron]

Good news regarding this one.

The developer has lodged an application with the ACC to increase the height of the building, introduce a basement level, as well as other minor amendments. The good news is that the ACC has designated these changes as being of a Category 1 nature.

Should we interpret 'height increase' as an additional floor? And, do excuse my ignorance, but what is a Category 1 change?

[Shuz]

Cat 1 i think requires public consultation?

[UrbanSG]

No Shuz. Category 1 = no requirement for public notification/consultation and much quicker approval times. Category 2 and 3 developments require public notification/consultation.

[Ben]

Good news regarding this one.

The developer has lodged an application with the ACC to increase the height of the building, introduce a basement level, as well as other minor amendments. The good news is that the ACC has designated these changes as being of a Category 1 nature.

how can they introduce a basement level when construction has already started on the foundations....

[UrbanSG]

Well from what I can see from my pics I would say the piling probably goes deep enough for a basement level. I think a smilar thing happened at the Coglin development where they applied for a basement level whilst they were at the piling/excavation stage.

[AtD]

Good news regarding this one.

The developer has lodged an application with the ACC to increase the height of the building, introduce a basement level, as well as other minor amendments. The good news is that the ACC has designated these changes as being of a Category 1 nature.

You wouldn't happen to know the new height?

[skyliner]

Another question - on looking at the original renders, it appears that the building will not be the full length of the Repco block - there appears to be a 2/3 story section at the north end about 20 m long. Can anyone clarify?

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

Any clues yet anyone on this?

[Will]

Good news regarding this one.

The developer has lodged an application with the ACC to increase the height of the building, introduce a basement level, as well as other minor amendments. The good news is that the ACC has designated these changes as being of a Category 1 nature.

You wouldn't happen to know the new height?

Not yet, but I'll make an inquiry soon.