[COM] 413 KWS Vue on King William | 89m | 28Lvl | Residential

All high-rise, low-rise and street developments in the Adelaide and North Adelaide areas.
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Jim
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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#301 Post by Jim » Sat Aug 02, 2008 4:47 pm

What irony, poor Ausie investments in the US may put a dampener on local investment? If more Ausie super $’s had been invested at home in the last 10 years we would have a more resilient economy and give us some immunity from these regular US fiascos. Use Ausie super funds to fund Ausie infrastructure not US debt!!!

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#302 Post by Brando » Sat Aug 02, 2008 4:57 pm

Shuz wrote:I think a lot of people are jumping the gun a bit with recession and economical downsizing fears, SA is actually performing the best or 2nd best nationally to other states against the economic climate at present. This whole subject was only just brought up in the last week with consumer confidence nationwide drastically down (4%) I think, but SA was up 0.2%, small, but positive. The mining potential is staggering, and with those sectors consistently surging due to unprecedented Chinese and Indian demand - there'll be tens and hundreds of mines commencing, expanding, etc. in the next 2-5 years. The high cost of resources will offset the financial turmoul which should see us through the hiccup that the rest of the nation is going through. There's actually an article in the paper which indicates that the project isn't dead, Hills are already in talks with 2 local finaciers to make sure it goes through, and they are adamant to see it through as a commitment to Adelaide. It did mention if they were setting up in Sydney or Melbourne they would have given up, so its not all doom and gloom. The Knights report issued last week or before still makes positive news for the other projects like the Pirie St and Franklin towers even though at a latter date (2010+). So I'm not going to jump the negative bandwagon and watch the conditions through until some serious shit hits the fan. But what are those chances?
Shuz, i understand what you are saying and i agree and disagree. In terms of the economic and development outlook for the state, we are a small player in the scheme of things in the mainland. We are vulnerable and have a high exposure to not only a global outlook but also a national, as evident in this case with Hills. With the resources boom not here just yet, we will have to wait to see the benefits come to fruition. Again, the companies we are relying on for the big boom, ie: BHP, have huge global exposure, so it may very well effect us too.

On the other hand in the housing market we are seeing some 'corrections' take place, but we are not seeing an overall fall in the local market. I am looking to buy another investment property and some suburbs that meets certain requirements are the same price as others that excel in these areas of need as an investor/buyer. So why will i buy in an area less prone to see growth in the future?
It is just another example of the market getting ahead of itself and maybe being too greedy. As Eddie Groves from ABC learned, inflate your own worth and those smarter will profit from your greed.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#303 Post by AtD » Sat Aug 02, 2008 4:58 pm

Jim wrote:Ausie investments in the US
Actually it’s both directions, Australian investment in the US and US investment in Australia. America owns much more of Australia than Australia does of America.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#304 Post by skyliner » Sat Aug 02, 2008 7:28 pm

Shuz wrote:I think a lot of people are jumping the gun a bit with recession and economical downsizing fears, SA is actually performing the best or
  • ]2nd best nationally[/b] to other states against the economic climate at present. This whole subject was only just brought up in
the last week with consumer confidence nationwide drastically down (4%) I think, but SA was up 0.2%, small, but positive. The mining potential is staggering, and with those sectors consistently surging due to unprecedented Chinese and Indian demand - there'll be tens and hundreds of mines commencing, expanding, etc. in the next 2-5 years. The high cost of resources will offset the financial turmoul which should see us through the hiccup that the rest of the nation is going through. There's actually an article in the paper which indicates that the project isn't dead, Hills are already in talks with 2 local finaciers to make sure it goes through, and they are adamant to see it through as a commitment to Adelaide. It did mention if they were setting up in Sydney or Melbourne they would have given up, so its not all doom and gloom. The Knights report issued last week or before still makes positive news for the other projects like the Pirie St and Franklin towers even though at a latter date (2010+). So I'm not going to jump the negative bandwagon and watch the conditions through until some serious shit hits the fan. But what are those chances?
Well said Shuz - i was alluding to these kinds of things in my previous post - all my info came from AFR or the mining thread. Personally I am far more positive than negative about this building actually being built due to such factors as you have mentioned.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#305 Post by Will » Sun Aug 03, 2008 10:28 am

If Hills cannot find another joint venture partner, I was wondering whether they could explore going down the Aurora on Pirie model, whereby they sub-divide the office tenancies and sell them to small 'mum and dad' investors. Regarding the economic fundamentals listed all over this thread, I still beleive that the office market will improve in the not to distant future.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#306 Post by Shuz » Sun Aug 03, 2008 12:59 pm

If worse comes to worst, seeing as this project actually appears to have two 'towers', the taller southern building and the shorter northern setback, maybe it would be logical to proceed with one or the other, and hold off on the other section until market conditions improve or a substantial pre-commitment is issued to warrant its construction? Using this and the subdivision of office space like AoP would probably help this one move along in its current form?

However, I still remain possimistic that the talks with the prospective local financiers should jump the hurdle its facing at the moment.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#307 Post by Will » Sun Aug 03, 2008 3:28 pm

Shuz wrote:If worse comes to worst, seeing as this project actually appears to have two 'towers', the taller southern building and the shorter northern setback, maybe it would be logical to proceed with one or the other, and hold off on the other section until market conditions improve or a substantial pre-commitment is issued to warrant its construction? Using this and the subdivision of office space like AoP would probably help this one move along in its current form?

However, I still remain possimistic that the talks with the prospective local financiers should jump the hurdle its facing at the moment.
Shuz, although this building appears to be 2 towers it is actually just one tower. Both components share the same core, lifts, services...you can't construct each segment separately.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#308 Post by joy » Tue Aug 05, 2008 1:38 am

Just wait a few more days, and this one will become very clear!

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#309 Post by omada » Tue Aug 05, 2008 8:41 am

There is an article concerning this development in the "Independent Weekly" - I will hopefully be able to scan this tomorrow.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#310 Post by Will » Tue Aug 05, 2008 1:45 pm

omada wrote:There is an article concerning this development in the "Independent Weekly" - I will hopefully be able to scan this tomorrow.
Check the previous page, it has already being posted.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#311 Post by Will » Tue Aug 05, 2008 1:50 pm

joy wrote:Just wait a few more days, and this one will become very clear!
I hope its good news!

I would hate for this building to go under. It has such a great design; in fact IMO its the most attractive building going up in Adelaide at the moment.

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#312 Post by Professor » Tue Aug 05, 2008 2:21 pm

With so much money already spent in the design and on the foundations etc, this one will likely go ahead as planned. To get out of the contract or do a major redesign will cost lots and the foundations are already well underway so a significantly smaller building would have a pretty high unit cost.

It's a matter of finding another finance source and with Hills as the anchor tenant and the economy in SA still reasonably OK, I would hope that the funds will be sourced.

I agree, this is a nice building design and would look very good to almost everybody. Except, of course, anyone sitting on a northern window of the Optus building (or Chunky Custard, as we know it).

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#313 Post by bm7500 » Tue Aug 05, 2008 2:49 pm

joy wrote:Just wait a few more days, and this one will become very clear!
Joy the 'Secret Squirrel' lol :wink:
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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#314 Post by mattblack » Tue Aug 05, 2008 7:06 pm

bm7500 wrote:
joy wrote:Just wait a few more days, and this one will become very clear!
Joy the 'Secret Squirrel' lol :wink:
Whos the 'Moroccan Mole'? :)

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[COM] Re: #ONH: Hills House | 60m | 15lvls | Office

#315 Post by Ben » Thu Aug 07, 2008 11:07 am

Any news yet Joy?

A positive article regarding Hills as a company in today's Advertiser:
SA-BASED Hills Industries has announced its 16th consecutive record profit, despite higher freight and distribution costs.

Revenues grew 16.8 per cent to $1.18 billion to June 2008, from $1.01 billion last year.
Net profit was up at $48.03 million, up 1.8 per cent from last year.

Chairman Jennifer Hill-Ling said the result was in line with the guidance given at the half year and represented an excellent achievement.

However, the company said profits were "adversely affected" due to higher freight and distribution costs.

The clothesline, ironing board and ladder maker said the result was in line with its guidance for for an improved full year result and showed it could grow in difficult economic times.

"There has been much publicity regarding the uncertain macro economic settings, including higher interest rates, higher fuel costs and the uncertainty surrounding capital markets,'' chairman Jennifer Hill-Ling said in a statement.

"Many of our business units operate in markets that still exhibit growth, despite these factors.''

Those business included electronics, security, healthcare and Hills environmental products.

"We expect some improvements in businesses that have underperformed this year and the diversity of our businesses further mitigates the risks associated with these economic settings,'' she added.

"Hills is not heavily exposed to the domestic housing cycle, and as such we expect a satisfactory result in the year ahead.''

The company's largest division, electronic security and entertainment, grew sales by 12.2 per cent.
Home, hardware and environmental product sales were up 6.1 per cent while building and industrial products was up 5.5 per cent.

Hills declared a final divided of 14 cents, taking the total for the year to 27.5 cents.

Hills shares were up 17 cents, or 5.1 per cent, to $3.50 at 1337 AEST.

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