[U/C] 89-109 Gray Street | 59m | 17 Levels | Student Accom

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Ben
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[U/C] 89-109 Gray Street | 59m | 17 Levels | Student Accom

#1 Post by Ben » Fri Jul 28, 2017 3:10 pm

Not sure of the height but given its location anything above 10 storeys would be noticeable. I've done some research and found out it is 670 beds so I would think given the other ones going up it should be atleast 17 levels.
Type: Schedule 10
Application Number: S10/26/2017
Lodgement Date: 26/07/2017
Latest Decision
Location: James Richardson Corp, 89-109 Gray Street, ADELAIDE SA 5000
Description: Demolition and construction of multi-storey student accommodation building with ancillary facilities

Article from earlier this year about the developer.

http://www.commercialguru.com.sg/proper ... into-stude
Wee Hur to redevelop Adelaide warehouse into student housing
Mar 29, 2017

Singapore-based Wee Hur Holdings plans to purchase an office warehouse building at 89-109 Gray Street in Adelaide, Australia, and subsequently convert it into a purpose-built student accommodation, it said in an SGX filing on Tuesday (28 March).

The 26,544 sq ft freehold site, which has redevelopment potential for multiple uses, is located between the main thoroughfares of Currie Street and Waymouth Street in the north-western quadrant of Adelaide’s Central Business District.

Wee Hur intends to pay AU$5.995 million (S$6.36 million) in cash plus goods and services tax (GST) for the property. The consideration, which will be funded by internal resources, was arrived at following arm’s length negotiations on a willing buyer, willing seller basis.

Since the 1970s, the property has been occupied by its owner, James Richardson Wines & Spirits, but it will be handed over with vacant possession after the completion of the transaction.

Specifically, the site will be acquired by Wee Hur PBSA Master Trust via a newly created sub-trust, WH Gray Street Trust, with the Trust Company (Australia) serving as the latter’s trustee.

The proposed acquisition is not expected to have a material impact on the earnings per share and net tangible assets per share of Wee Hur Holdings for the current financial year ending 31 December 2017.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#2 Post by rev » Fri Jul 28, 2017 6:17 pm

Yawn. More student accommodation?

So, is this how they plan on boosting the City's population? By filling it with foreigners who are here temporarily and most of those who decide to get Australia residency or citizenship end up moving to the eastern cities?....

I guess the big sell of high rise living in shoe boxes isn't going so well, despite some on here who are militant that it should be the only option for housing.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#3 Post by SRW » Fri Jul 28, 2017 10:17 pm

I don't think we should look a gift horse in the mouth. International students are a huge boon to our economy, and provided a happy experience, are potential ambassadors for our city around the world. Anyone prepared to cross the oceans and spend their money with us should be welcomed. Though we're educating them we might also learn something (hello fabulous food culture). Plus, by nature of student life, the increasing population of students in the centre will help develop and sustain a 24-hour city life.
Keep Adelaide Weird

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#4 Post by [Shuz] » Sat Jul 29, 2017 8:03 am

Their propeety portfolio doesn't Inspire me with confidence that they'll deliver even a half decent product.
Any views and opinions expressed are of my own, and do not reflect the views or opinions of any organisation of which I have an affiliation with.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#5 Post by Algernon » Sat Jul 29, 2017 3:27 pm

This is a huge site so I'm not convinced it would be a tall development. Beds /= rooms. Could be as low as 8 floors depending on configuration

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#6 Post by Jaymz » Sat Jul 29, 2017 5:46 pm

SRW wrote:
Fri Jul 28, 2017 10:17 pm
I don't think we should look a gift horse in the mouth. International students are a huge boon to our economy, and provided a happy experience, are potential ambassadors for our city around the world. Anyone prepared to cross the oceans and spend their money with us should be welcomed. Though we're educating them we might also learn something (hello fabulous food culture). Plus, by nature of student life, the increasing population of students in the centre will help develop and sustain a 24-hour city life.

Yeah, what he said. And I don't see any reason for this to stop anytime in the medium to long term.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#7 Post by wilkiebarkid » Sat Jul 29, 2017 7:03 pm

[Shuz] wrote:
Sat Jul 29, 2017 8:03 am
Their propeety portfolio doesn't Inspire me with confidence that they'll deliver even a half decent product.
Attempt 2

Disgusting!!!

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#8 Post by timtam20292 » Sat Jul 29, 2017 9:02 pm

wilkiebarkid wrote:
Sat Jul 29, 2017 7:03 pm
[Shuz] wrote:
Sat Jul 29, 2017 8:03 am
Their propeety portfolio doesn't Inspire me with confidence that they'll deliver even a half decent product.
Attempt 2

Disgusting!!!

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Image

Image

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Now I can seem them! love that pool in the render (2nd one). :applause:

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#9 Post by Jaymz » Sun Jul 30, 2017 12:05 pm

Looks good to me. Would be more than happy to have that in our CBD.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#10 Post by ghs » Sun Jul 30, 2017 4:18 pm

rev wrote:
Fri Jul 28, 2017 6:17 pm
Yawn. More student accommodation?

So, is this how they plan on boosting the City's population? By filling it with foreigners who are here temporarily and most of those who decide to get Australia residency or citizenship end up moving to the eastern cities?....

I guess the big sell of high rise living in shoe boxes isn't going so well, despite some on here who are militant that it should be the only option for housing.
You can't blame them for moving to the eastern states when there's no decent job opportunities for them here. For graduates who are interested in putting the cardigan on and working for government then there are a few opportunities in the public service. But for those who want to work in the real world then there's very little opportunity in Adelaide. Big companies such as BHP, Coca-Cola, Holden, Mitsubishi have all scaled back or pulled out of South Australia.

The economy is the foundation of a city and our economy is a national disgrace.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#11 Post by Ben » Thu Aug 10, 2017 9:57 am

No further details on this yet, but looks like they're keen to move quickly.
Type: Application Assessed on Merit:
Application Number: DA/507/2017
Lodgement Date: 03/08/2017
Location: James Richardson Corp, 89-109 Gray Street, ADELAIDE SA 5000
Description: Demolition of two existing building structures.

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#12 Post by citywatcher » Thu Aug 10, 2017 12:20 pm

Of cour$e they are

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#13 Post by Mpol03 » Thu Aug 10, 2017 12:33 pm

So the image above is the render for this?
Why is it that awful student accom buildings get approved and move at the speed of light? They are now polluting our city centre. I love the idea, student accom needs to be prevalent as students generally add a vibrant nature to the city centre. Being out last night, the city was still abuzz with people and activity past 9PM. But the quality of these proposals needs to lift. We have a city centre filled with dated brown boxes. Why can't we really look to improve the nature of buildings going up? Adelaide will have these for a long time. There needs to be more consideration by whoever approves these.

Apologies for the rant like nature of my posts. I just feel Adelaide has SO MUCH potential. Even without a booming economy, we can still make sure the quality of our developments is of a national standard.

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#14 Post by citywatcher » Thu Aug 10, 2017 12:59 pm

Put them up quickly cheaply make a killing I would say
The developer and the landlord make the money if you're looking to invest probably better options around

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[U/C] Re: 89-109 Gray Street | ~TBC | ~TBC | Student Accom

#15 Post by Ben » Thu Aug 10, 2017 1:35 pm

Mpol03 wrote:
Thu Aug 10, 2017 12:33 pm
So the image above is the render for this?
No the above are just examples of their previous developments, no renders have been released as yet.

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