[PRO] 124-126 Franklin Street | 87m | 26 Lvls | Hotel

[Llessur2002]

Has anyone else has noticed an uptick in people returning to Adelaide?

Anecdotally yes - a few friends from Melbourne have (individually) decided to move back recently, and a couple more are talking about it. Is that part of an overall trend, or is it just a confirmation that people return to Adelaide in their mid to late 30s?

[ghs]

What we need is a state government that is serious about the economy. Weatherill was hopeless.

On greenhill road the government should consider having a system where any building that isn't up for lease has a sign on it saying 'Not for lease'. Then all of the 'For lease' signs could be removed. I believe this would be a better way to manage the situation.

[rev]

Has anyone else has noticed an uptick in people returning to Adelaide?

Anecdotally yes - a few friends from Melbourne have (individually) decided to move back recently, and a couple more are talking about it. Is that part of an overall trend, or is it just a confirmation that people return to Adelaide in their mid to late 30s?

I've had some friends who moved here from Sydney, move back to Sydney in recent years. Imo it depends on what industry and what opportunities are available.
There's also probably a factor of people moving from a small quiet place like Adelaide to a big hustle and bustle metropolis like Sydney or Melbourne being unable to cope after a few years of the madness. I know a lot of friends hate going to Melbourne and Sydney for those reasons and rule out ever living there. On the other hand a lot of friends who come from Melbourne particularly comment how laid back it is here, but they wouldn't move here because the economy is too slow paced, there's not enough opportunities.

In general I think a lot of east coasters are surprised by Adelaide when they get here, but as for pulling more of them in as opposed to how many we lose to them, I think we are a long long way off that mark.

The trick for Adelaide will be maintaining the relatively laid back lifestyle, or perception of it, while creating huge economic growth. That will entice a lot more people to move over.

[ChillyPhilly]

What we need is a state government that is serious about the economy. Weatherill was hopeless.

On greenhill road the government should consider having a system where any building that isn't up for lease has a sign on it saying 'Not for lease'. Then all of the 'For lease' signs could be removed. I believe this would be a better way to manage the situation.

Ok

[Ben]

Looks like this is being reborn as a hotel... as we seem to have a shortage of those proposed.

4785
020/A065/19
Alto Adelaide Pty Ltd C/- Masterplan Pty Ltd
ADELAIDE CITY COUNCIL
124-126 Franklin Street, Adelaide
Construction of a 26 storey hotel building
Under Assessment
10/12/19

[Patrick_27]

Looks like this is being reborn as a hotel... as we seem to have a shortage of those proposed.

4785
020/A065/19
Alto Adelaide Pty Ltd C/- Masterplan Pty Ltd
ADELAIDE CITY COUNCIL
124-126 Franklin Street, Adelaide
Construction of a 26 storey hotel building
Under Assessment
10/12/19

Now I'm starting to get skeptical... How many more hotels does Adelaide actually need? I would imagine that regulating the industry should now be on the cards because the market is looking saturated without all the new additions that are yet to come.

[gnrc_louis]

The market will regulate itself in this instance. If it doesn't make financial sense to build a hotel due to market saturation, investors won't invest their money into building one.

[GrowAdelaide]

The market will regulate itself in this instance. If it doesn't make financial sense to build a hotel due to market saturation, investors won't invest their money into building one.

I'm sure they would have analysed occupancy rates as part of the decision making process.

[gnrc_louis]

The market will regulate itself in this instance. If it doesn't make financial sense to build a hotel due to market saturation, investors won't invest their money into building one.

I'm sure they would have analysed occupancy rates as part of the decision making process.

Yeah - that's what I mean. By this instance, I meant the hotel sector more generally, not this specific one.

[Ben]

I think the issue is vacancy rates are pretty low hence all the proposals. If they all start around the same time to fix the demand issue without taking into account the forthcoming supply. It will be a case of first in best dressed as I don’t think they will all start. There is definitely a need for more hotels but they need to be staggered.

[SRW]

Of all the proposed hotels (of which, not many have actually come through to construction), I can't see why this would have more of shot than the others. Especially with no announced operator. Likely the landholder trying to push or maintain land value higher.

[Algernon]

The only hotel operators that should be shitting themselves are those with a 20+ year old product that they never bothered to refresh.

[Patrick_27]

The only hotel operators that should be shitting themselves are those with a 20+ year old product that they never bothered to refresh.

Hilton and InterContinetal for instance. If, like me, any of you have been hanging out for either chain to do something about the dated interior and exterior of these hotels. I'll give it a year from Sofitel (or worst case scenario, Hyatt) opening for these two to announce overhauls of their facilities, relocation to new premises or leaving the market entirely. Hilton for instance had two hotels (Docklands and East Melbourne) in Melbourne and left both, selling the sites to other hotel operators.

[Smithy85]

Record occupancy and revenue for Adelaide hotels in the last 3 months:

https://invest.cityofadelaide.com.au/bl ... ord-highs/

[ml69]

Record occupancy and revenue for Adelaide hotels in the last 3 months:

https://invest.cityofadelaide.com.au/bl ... ord-highs/

Wow I’m impressed! Not many other sectors growing like that!

Shows that we have to keep up the marketing and keep investing in our “product”.

I’ve been saying for years that we should beef up our spring festival calendar from early Oct (school holidays, after footy finals) to early Nov.

For example, we could expand the OzAsia festival to include an Asian-inspired night market/Garden of Unearthly Delights kind of thing in Victoria Square perhaps?

And consider doing the Northern Lights illuminated buildings at springtime (not Fringe time) to coincide with the OzAsia festival and school holidays. But also light up the historic buildings surrounding Victoria Square?