Sensational-Adelaide.com

skyliner wrote:Brilliant work again Ben Great shot of the forthcoming HSQ. It's all action in HSQ.(sounds like a railway station )

UrbanSG wrote:Looks like they are up to the last floor. Pics taken today:

Hines Property close to Conservatory deal

RUSSELL EMMERSON

November 19, 2008

HINDMARSH Square developer Hines Property is close to announcing a deal on the office space for its $70 million Conservatory project.

In an exclusive video interview for the SA Business Journal e-edition, director James Hines confirmed a deal was close for the five levels of office space.

"We'll be announcing a deal on the office space in the near future,'' he said. "We'll be able to talk about it very soon.''

Mr Hines would not disclose whether the company was negotiating with one or more parties.

The company's $150 million 20 Hindmarsh Sq development, which combines a 16-level Crowne Plaza Hotel and a 15-level residential tower, has passed 65 per cent of residential sales and was on target for a June finish, he said.

WATCH THE VIDEO

"We've seen a steady flow of sales over the last couple of weeks, so that's really pleasing,'' he said.

"We've just gone through the financial close and (are) commencing the construction phase so it's ticking over at a nice solid pace, but we don't like to overstate our position, that's not our game.''

Hines reported it had sold 50 per cent of the apartments in January 2007, and had reached the 60 per cent mark in June this year.

Mr Hines said the company was also looking at ``other opportunities'' in Adelaide, including a couple of serious proposals, but was yet to get any proposition to a point where it could be unveiled.

AtD wrote:We're lucky this building wasn't delayed 12 months or it may have suffered the same fate as Hills. Babcock and Brown are on the edge of receivership, according to the papers. Hopefully this building is so close to completion that the receiver will continue work.

Besides Hills, does B&B have interests in any other Adelaide projects?