$143m office tower ready for business
RHIANNON HOYLE REAL ESTATE EDITOR
January 19, 2007 10:30pm
ADELAIDE'S biggest office building in almost 20 years will open its doors next Friday.
The $143 million City Central Tower 1 is officially complete, with tenants preparing to move in on February 1.
The Waymouth St building is being touted the most significant office project in the city since Santos House, formerly the State Bank Centre, opened its doors in 1989.
Developers Caversham Property, builders Baulderstone Hornibrook and other businesses associated with the project last night celebrated with a function on-site.
James Young, SA chief executive of leasing agent Colliers International, said the building had proved a milestone for the local property industry, kick-starting the city's billion dollar building boom.
"It is the biggest project of its kind since Santos, and that was 20 years ago," Mr Young said.
Construction of Tower 1 began in January 2005.
It last year achieved Adelaide's first five-star green star certified rating.
The 31,000sq m, 21-storey building is the biggest green star certified project in Australia.
Architect and tenant, Woods Bagot director Andrew Ford, said the building's energy consumption had been designed so that, when fully occupied, the complex would also achieve a 5-Star Australian Building Greenhouse rating.
"I'm looking forward to tenants moving in," Mr Ford said. "This has not just been two years of construction for us, we have been working on this building for nine years now."
Caversham investment, sales and leasing manager Ben Yates said tenant fitouts were this week drawing to a conclusion, with lease terms to commence next Friday.
Tenants include ANZ, who have naming rights, the State Government, Deloitte Touche Tohmatsu, Lincoln Scott, Woods Bagot and the Australian Bureau of Statistics.
Mr Yates said the second building in the project - Tower 2 - was on schedule to be completed this time next year.
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