News & Discussion: General CBD Development

[VinyTapestry849]

The Kyren group have recently admitted that the adelaidean had its height increased to 138m, pretty dope!!

[cmet]

The Kyren group have recently admitted that the adelaidean had its height increased to 138m, pretty dope!!

Where, need proof for the wiki lol

[gnrc_louis]

https://www.commercialrealestate.com.au ... 2016148624

Might finally see that ugly open air carpark on Light Square get developed now that the site is for sale.

[Ho Really]

Might finally see that ugly open air carpark on Light Square get developed now that the site is for sale.

Yes that would be nice.

Cheers

[citywatcher]

Nearing completion:

Sofitel
Wingfold
124 Waymouth St
Light Square
120 Wakefield
Market St
Realm
Crowne Plaza

Under construction:

Toms Court
Penny Place
269 North Terrace

To commence 2021:

Flinders One Stage 2
Hyatt Hotel
Oaks Tavern
Sahmri 2
GPO
Walker Tower

Sent from my SM-J730G using Tapatalk

[Patrick_27]

Nearing completion:

Sofitel
Wingfold
124 Waymouth St
Light Square
120 Wakefield
Market St
Realm
Crowne Plaza

Under construction:

Toms Court
Penny Place
269 North Terrace

To commence 2021:

Flinders One Stage 2
Hyatt Hotel
Oaks Tavern
Sahmri 2
GPO
Walker Tower

Sent from my SM-J730G using Tapatalk

Sofitel should be listed in Under Construction, Toms Court is closer to the finish line than Sofitel...

[citywatcher]

Nearing completion:

Sofitel
Wingfold
124 Waymouth St
Light Square
120 Wakefield
Market St
Realm
Crowne Plaza

Under construction:

Toms Court
Penny Place
269 North Terrace

To commence 2021:

Flinders One Stage 2
Hyatt Hotel
Oaks Tavern
Sahmri 2
GPO
Walker Tower

Sent from my SM-J730G using Tapatalk

Sofitel should be listed in Under Construction, Toms Court is closer to the finish line than Sofitel...

Sofitel is 35 storeys with the cores currently at about 30
Toms Court is 15 and currently sits at about 3 or 4 .......

Sent from my SM-J730G using Tapatalk

[Ben]

Core of Sofitel is at 25 I’m pretty sure and floor level is 21.

What is oaks tavern?

[citywatcher]

There was a core rise
Starting on 22 and 23 now
If I have the right site The oaks tavern is what the planet night club used to be called

Sent from my SM-J730G using Tapatalk

[Ho Really]

[...]
If I have the right site The oaks tavern is what the planet night club used to be called

Cheers

[rev]

Riverside Centre’s multimillion dollar makeover
Giuseppe Tauriello, The Advertiser
May 11, 2020 5:30pm
Subscriber only

More than $40 million is being invested in the Riverside Centre building in the Adelaide CBD, with government tenants locked in for another ten years at the North Tce tower.

The investment will include a major refurbishment program costing around $24 million, including a major focus on sustainability initiatives such as solar panels and technology upgrades.

Major capital upgrades will include new tenant fit-outs, improved end of trip and bike storage facilities, and upgraded building services including hot water units, new building management systems, new lift generators and a new plaza, ground-floor lobby and atrium.

An additional $19 million will be spent as part of a long-term tenant retention program.

The investment marks a decade of ownership by German investor Atlantic Funds.

Sydney-based asset manager Ashbridge Capital is co-ordinating the investment program after working with Atlantic to negotiate ten-year lease renewals over more than 21,000sqm of office space in the building.

The building is now fully tenanted, with the South Australia Housing Association and Department of Human Services as anchor tenants, and leases to state and federal government departments secured to December 2030.

Since 2007, Ashbridge Capital has completed $250 million in advisory projects and has $200 million worth of assets under management, including Riverside Centre.

Ashbridge Capital founder Vishant Narayan, a former long-time managing director of Real I.S. Group in Australia, has invested and managed $400 million of European capital into the Adelaide commercial real estate market.

He remains bullish about the local property market, and Adelaide’s evolving Riverbank precinct, despite the challenges posed by the coronavirus crisis.

As he continues to work with other offshore capital partners, Mr Narayan says Adelaide is generating an increasing level of interest from overseas investor groups.

“Despite the current challenges, and wider economic slowdown in Australia, the Adelaide CBD will outperform in the coming years, backed by solid economic fundamentals and sound government,” he said.

“South Australia has proven to be an attractive investment market for smart offshore capital, and we will focus on greater investment in Adelaide in the short to medium terms.”

Property Council SA executive director Daniel Gannon welcomed the “incredibly positive signal to South Australia’s investment market”.

“South Australia has long been the country’s best kept secret,” he said.

“Decisions like this will create more jobs, stimulate the state’s economy and ultimately encourage further investment in South Australia.”

Riverside Centre opened in 1989, with Atlantic paying $66.8 million for the property in 2010.

https://www.adelaidenow.com.au/business ... 72b53ec00b

Shame they're renovating it and not driving a D11 dozer through it.

[Patrick_27]

Agreed, rev. Based on that article it doesn't even seem like they are doing much in the way of an external upgrade, apart from the ground floor.

[Algernon]

Not to mention it is prime land for a much larger commercial development. Wasted opportunity to get rid of a puke building.

[SBD]

“Despite the current challenges, and wider economic slowdown in Australia, the Adelaide CBD will outperform in the coming years, backed by solid economic fundamentals and sound government,” he said.

“South Australia has proven to be an attractive investment market for smart offshore capital, and we will focus on greater investment in Adelaide in the short to medium terms.”

It would seem that something is going well, despite the usual noise on this forum.

[Joelmark]

Hard to believe the Riverside Centre is only 30 years old, really.
I completely get that the Riverside Centre and the InterContinental and other buildings in the ASER project are not to everybody's taste, and there is the valid claim that they also partly enroach on the parklands.
That said, I don't mind the architecture - the ASER project still reminds me of that mid 80s "go-ahead" attitude, and also laid the foundation for the development of Adelaide as an international conference venue.
The Bannon Government in 1983-84 was foresighted enough at least to foresee the long-term economic benefits of the project in terms of attracting international money and visitors to Adelaide.