News & Discussion: CBD Real Estate & Market Conditions

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#1 Post by **Pikey** » Fri Jul 22, 2005 11:23 am

Have a looksey at this, very promising!

http://www.colliers.com/Content/Reposit ... tApr05.pdf

#2 Post by **Howie** » Fri Jul 22, 2005 11:39 am

Looking very promising...! I heard a contrasting report on the adelaide housing market the other day on the news, it talked about future oversupply in the adelaide market, yet i couldn't find any reports backing their findings.

Very good analysis in this report... i'd love to see more good news like this for lil adelaide

Algernon · #3 Post by **Algernon** » Fri Jul 22, 2005 12:08 pm

I've been saying this for yonks - we've got bugger all vacant in the premium grade office stock!

It's kinda fun seeing the small note that the corner site of 63-69 Grenfell was sold 6 months ago.

That's 115m height limit territory.

Vacancy:

Premium - 49,041 sqm total - Vacancy; 1.05%
A - 326,769 sqm total - Vacancy; 6.2%
B - 256,002 sqm total - Vacancy; 7.4%
C - 197,791 sqm total - Vacancy; 17.8%
D - 67,366 sqm total - Vacancy; 13.3%

There's a big push in Adelaide to upgrade lower stocks, retrofit them with environmentally sustainable features, and just plain old make them lettable. Expect the glut in the D and C stocks to reduce as some of this stock is converted to higher grade office stock, or redeveloped into apartments (ala Tax Tower and Old Santos HQ).

#4 Post by Al » Fri Jul 22, 2005 2:20 pm

I noticed that there's a building on Franklin St a few doors west of Bentham, that's just been sold. It looks pretty run down but the block is pretty big. I wonder what's going to happen to that?

#5 Post by **Pikey** » Fri Jul 22, 2005 3:21 pm

Sold by who?? Maybe we can email and find them out

#6 Post by Al » Fri Jul 22, 2005 7:15 pm

From memory, it was CB Richard Ellis but I'm not 100% sure. I'll take a look the next time I go past it. It's the one right opposite Truscotts HiFi.

#7 Post by **Pikey** » Mon Jul 25, 2005 2:49 pm

Yep, saw it, and as I drove past I saw the words " CBD Development" and City Central Precint" although they were covered by the sold sign! Still, that site is still in the 115m precinct, hmm a nice 25 level slender blue reflective glass tower would look bloody nice there, and give the skyline some bulk towards the South West!

.::G!oRgOs::. · #8 Post by **.::G!oRgOs::.** » Mon Jul 25, 2005 7:44 pm

i was looking at a pic of the cbd and we need to add heaps of buildings to make it bulk. ATM, the cbd is really sparse

#9 Post by AG » Wed Jul 27, 2005 9:59 pm

Lot of A and B grade space in demand!

Al, if you can see in the renders of CCT3, one of the old buildings (there's a heritage listed one on that corner or close to it) seems to be incorporated into the new building.

EDIT: The above is a completely different building to the one you guys seem to be refering to.

#10 Post by **Howie** » Wed Jan 04, 2006 11:39 am

Any one know more about this?

http://www.capcity.adelaide.sa.gov.au/p ... asp?ID=415

Grenfell Street Apartment Complex
Benatar Development Group
Under Consideration

Area The Living City
Est Cost in $M 3.8
Est Start 1/10/2005
Est End 1/04/2007
Project Updated 24-11-2005

Description Benatar Development Group
Status Details Development approval has been received

Contact Organisation Benatar Development Group

Just wanted to see if any of you guys know more about this? Probably be a 5 storey or something?

Algernon · #11 Post by **Algernon** » Wed Jan 04, 2006 2:20 pm

Known as 'Princes Apartments'

It's a redevelopment of the old Santos HQ next to the Telstra building.

Originally approved for redevelopment into 99 apartments but a subsequent DA proposed to add 4 levels onto the structure, bringing it up to 16 levels. Dunno what happened after that.

BTW, the name Benatar reminds me of something I hold very special to me.

Pat Benatar's tunes are right up there with Eye of the Tiger and Danger Zone as the greatest bogan rock songs of all time.

#12 Post by **Howie** » Wed Jan 04, 2006 2:26 pm

Hmmm thanks for the info Algernon..

btw, saw approval for this in March 05..
http://www.adelaidecitycouncil.com/coun ... ilding.pdf

Only 6-7 levels or so?

Algernon · #13 Post by **Algernon** » Wed Jan 04, 2006 2:32 pm

You've been caught out by the page formatting. The entry for the Benatar development starts on the prior page, and ends on the top of the next one. The entry below is an entirely different porposal (which was built btw - it's the Domain Apartments building across the road from the Clown and Wanker pub).

#14 Post by **Howie** » Wed Jan 04, 2006 2:35 pm

Whoops... You're right.. i was viewing that pdf through google html viewer.. (adobe reader's too slow for me at work).

#15 Post by **Howie** » Mon Jul 17, 2006 1:02 pm

Read about this on the advertiser... Transport SA is open to the suggestion of relocating to the CBD. Apparently the ACC has some possible sites for them. This would be a windfall for the ACC who are trying to up the working population of the CBD to meet goals set out in their plan for the city.

Their current 8 storey building in walkerville built in the 1960s, is currently reaching it's "end of life" and the suggestion has been made that it would be better to convert them to apartments and relocate transport SA hq to the cbd including their 860 staff members.

Hopefully we'll hear more about this sometime in the near future.