[APP] 42-56 Franklin Street | ~98m | 22lvls | Office

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matty
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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#61 Post by matty » Thu Nov 08, 2007 4:30 pm

Went past today and noticed signs going up on the existing building that demolition is underway.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#62 Post by Brando » Thu Nov 08, 2007 7:18 pm

Awesome news. I thought they were still waiting for pre commitment before commencing. Maybe they have?

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#63 Post by Pistol » Thu Nov 08, 2007 7:29 pm

I saw the signs and also the workers 'working' away busily (well smoking anyway). Has there already been pre commitment? This will make a nice impact around that area.
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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#64 Post by UrbanSG » Thu Nov 08, 2007 9:52 pm

Well there has been no official announcement regarding any pre-commitments but who knows maybe they have managed something. Developers often demolish buildings prior to actually finalising financing for construction of the new structure. Unfortunately when an economic downturn or a recession hits we are often left with a whole lot of empty/vacant sites as a result. There is a provision requiring landscaping of such sites after a certain amount of time, however this is often not met by developers. We have a fair few empty/vacant sites right now such as 400 King William and parts of City Central precinct. In this site's case the removal of this rundown building is definately a good step even if we are left with a vacant site for a while.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#65 Post by Will » Fri Nov 09, 2007 2:26 pm

No-one has pre-commited any office space in this building, and the reason why it is being demolished I assume is that it is costing the developers money to maintain the derelict building. The current building as it stands cannot be leased, so I presume that the developers are demolishing it, to use the land as a car-park until the development can proceed. In this way, they can at-least make some money from the site.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#66 Post by Will » Sun Nov 18, 2007 2:45 pm

From a new angle:

Image

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#67 Post by UrbanSG » Sun Feb 10, 2008 6:47 pm

Thankfully it looks like this will finally be comming down soon:

Image

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#68 Post by Omicron » Mon Feb 11, 2008 4:38 pm

From that angle, the existing building isn't actually that bad.

Still, nice to see some progress on these new buildings.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#69 Post by Ho Really » Wed Mar 05, 2008 4:48 pm

Has demolition work started on this old exchange? It's not the greatest of buildings but that facade, even if rather plain, could have been a podium to a nice twenty-odd storey tower...now that I come to think of it... :|

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#70 Post by Ben » Wed Mar 05, 2008 4:49 pm

Ho Really wrote:Has demolition work started on this old exchange? It's not the greatest of buildings but that facade, even if rather plain, could have been a podium to a nice twenty-odd storey tower...now that I come to think of it... :|

Cheers
yes it's in the process of being gone. :)

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#71 Post by Ho Really » Wed Mar 05, 2008 4:51 pm

Thanks Ben.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#72 Post by Professor » Tue May 20, 2008 11:31 am

The demoloition of the old exchange building is half way completed now. Another few weeks should see the site cleared. Then hopefully something will happen.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#73 Post by UrbanSG » Tue May 20, 2008 11:46 am

Yeah I noticed this over the weekend. Be good to see a pre-commitment announcement for this one. Hopefully something will happen soon. Anything that helps cover the Telstra exchange building to the north (which this one will do from the south) is a valuable addition to our skyline. Plus it will have a substantial impact from the west. Anyway wait and see I suppose.

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#74 Post by rhino » Tue May 20, 2008 12:55 pm

Ho Really wrote:Has demolition work started on this old exchange? It's not the greatest of buildings but that facade, even if rather plain, could have been a podium to a nice twenty-odd storey tower...now that I come to think of it... :|

Cheers
Yes, I think that could have worked quite well too.
cheers,
Rhino

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[APP] Re: #Approved : Franklin Street - 17 levels twin tower - $44m

#75 Post by UrbanSG » Sat May 24, 2008 10:11 am

Not much left of the old exchange now. Should be gone in a week or so. Pic from today:

Image

On a side note the ACC Draft Budget identifies West Terrace and this section of Franklin Street as the likely next round for underground powerlines. That can't happen soon enough imo (especially West Terrace).

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