[APP] Re: 29 Twin Street | 124m | 38lvls | Student accom
Posted: Wed Feb 27, 2019 11:55 am
Yep, Built Environs.Uncle Monty wrote: ↑Wed Feb 27, 2019 7:40 amA tender for this project was in the ‘tiser yesterday (Tues 26/2).
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Yep, Built Environs.Uncle Monty wrote: ↑Wed Feb 27, 2019 7:40 amA tender for this project was in the ‘tiser yesterday (Tues 26/2).
Same thing a lot of city hotels do, use one of the many many parking stations in the city.
Hines Property managing director James Hines told The Advertiser the group is close to buying a new development site in the CBD and an announcement on its proposed 38-storey, $85 million student tower on 29 Twin Street is also expected shortly.
While the pipeline developments progress, the group is ticking off a phased $6 million refurbishment of its Pullman Hotel on Hindmarsh Square to make the most of “growing opportunities” in the Adelaide hotels sector.
“Competition is great. One of the biggest issues in Adelaide is that a lot of our competitors are 30-year old properties and when you have older stock, they are unable to push their rates up.
“With new product (hotels like Westin, among others) coming in the market, there will be a greater reason for people to get educated on paying room rates in Adelaide commensurate with other capital cities.
“Whilst we (Pullman and Ibis) have had some good growth, our room revenues are still a lot lower than most of the other capital cities.
38 storey $85m somebody stop them pleaseHiTouch wrote:The full article is at https://www.adelaidenow.com.au/business ... d3a6d066f5. I thought it was relevant though as it makes a mention about twin street.
Hines Property managing director James Hines told The Advertiser the group is close to buying a new development site in the CBD and an announcement on its proposed 38-storey, $85 million student tower on 29 Twin Street is also expected shortly.
While the pipeline developments progress, the group is ticking off a phased $6 million refurbishment of its Pullman Hotel on Hindmarsh Square to make the most of “growing opportunities” in the Adelaide hotels sector.
“Competition is great. One of the biggest issues in Adelaide is that a lot of our competitors are 30-year old properties and when you have older stock, they are unable to push their rates up.
“With new product (hotels like Westin, among others) coming in the market, there will be a greater reason for people to get educated on paying room rates in Adelaide commensurate with other capital cities.
“Whilst we (Pullman and Ibis) have had some good growth, our room revenues are still a lot lower than most of the other capital cities.
It is cheap for the height, but worth remembering it has a tiny footprint.citywatcher wrote: ↑Tue Jun 18, 2019 11:00 pm38 storey $85m somebody stop them pleaseHiTouch wrote:The full article is at https://www.adelaidenow.com.au/business ... d3a6d066f5. I thought it was relevant though as it makes a mention about twin street.
Hines Property managing director James Hines told The Advertiser the group is close to buying a new development site in the CBD and an announcement on its proposed 38-storey, $85 million student tower on 29 Twin Street is also expected shortly.
While the pipeline developments progress, the group is ticking off a phased $6 million refurbishment of its Pullman Hotel on Hindmarsh Square to make the most of “growing opportunities” in the Adelaide hotels sector.
“Competition is great. One of the biggest issues in Adelaide is that a lot of our competitors are 30-year old properties and when you have older stock, they are unable to push their rates up.
“With new product (hotels like Westin, among others) coming in the market, there will be a greater reason for people to get educated on paying room rates in Adelaide commensurate with other capital cities.
“Whilst we (Pullman and Ibis) have had some good growth, our room revenues are still a lot lower than most of the other capital cities.
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citywatcher wrote:38 storey $85m somebody stop them pleaseHiTouch wrote:The full article is at https://www.adelaidenow.com.au/business ... d3a6d066f5. I thought it was relevant though as it makes a mention about twin street.
Hines Property managing director James Hines told The Advertiser the group is close to buying a new development site in the CBD and an announcement on its proposed 38-storey, $85 million student tower on 29 Twin Street is also expected shortly.
While the pipeline developments progress, the group is ticking off a phased $6 million refurbishment of its Pullman Hotel on Hindmarsh Square to make the most of “growing opportunities” in the Adelaide hotels sector.
“Competition is great. One of the biggest issues in Adelaide is that a lot of our competitors are 30-year old properties and when you have older stock, they are unable to push their rates up.
“With new product (hotels like Westin, among others) coming in the market, there will be a greater reason for people to get educated on paying room rates in Adelaide commensurate with other capital cities.
“Whilst we (Pullman and Ibis) have had some good growth, our room revenues are still a lot lower than most of the other capital cities.
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Hines is building a 38 level building for $85 million and he has a whinge about the adelaide market being cheap.citywatcher wrote: ↑Tue Jun 18, 2019 11:00 pm38 storey $85m somebody stop them pleaseHiTouch wrote:The full article is at https://www.adelaidenow.com.au/business ... d3a6d066f5. I thought it was relevant though as it makes a mention about twin street.
Hines Property managing director James Hines told The Advertiser the group is close to buying a new development site in the CBD and an announcement on its proposed 38-storey, $85 million student tower on 29 Twin Street is also expected shortly.
While the pipeline developments progress, the group is ticking off a phased $6 million refurbishment of its Pullman Hotel on Hindmarsh Square to make the most of “growing opportunities” in the Adelaide hotels sector.
“Competition is great. One of the biggest issues in Adelaide is that a lot of our competitors are 30-year old properties and when you have older stock, they are unable to push their rates up.
“With new product (hotels like Westin, among others) coming in the market, there will be a greater reason for people to get educated on paying room rates in Adelaide commensurate with other capital cities.
“Whilst we (Pullman and Ibis) have had some good growth, our room revenues are still a lot lower than most of the other capital cities.
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Floor plates are less than 300 sqm, GFA is only about 11,000 sqm, so $85m to build is actually way over the odds. Is that the end value, maybe?cmet wrote: ↑Wed Jun 19, 2019 1:49 pmcitywatcher wrote:38 storey $85m somebody stop them pleaseHiTouch wrote:The full article is at https://www.adelaidenow.com.au/business ... d3a6d066f5. I thought it was relevant though as it makes a mention about twin street.
Sent from my SM-J730G using TapatalkIf this was based around cost per sqm it would be around realm etc. small floorplates
Once again, tiny floor plates...ghs wrote:Hines is building a 38 level building for $85 million and he has a whinge about the adelaide market being cheap.citywatcher wrote: ↑Tue Jun 18, 2019 11:00 pm38 storey $85m somebody stop them pleaseHiTouch wrote:The full article is at https://www.adelaidenow.com.au/business ... d3a6d066f5. I thought it was relevant though as it makes a mention about twin street.
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I will make sure that I don't stay in any of his hotels from now on.