Sensational-Adelaide.com

Cash money - 2 x 30 storey towers??? Any guesses as to how deep he would need to dig into those pockets?
Just because you have the money, doesn't mean you are silly enough to pour it all into something without the confidence of the market accepting it. Most people don't get to have lots of money without a track record of shrewd, calculated business decisions.
Obviously the banks play things very much on the conservative side but there is a reason why they only get involved in projects that have proven their worth in the market.

adel aide wrote:Cash money - 2 x 30 storey towers??? Any guesses as to how deep he would need to dig into those pockets?
Just because you have the money, doesn't mean you are silly enough to pour it all into something without the confidence of the market accepting it. Most people don't get to have lots of money without a track record of shrewd, calculated business decisions.
Obviously the banks play things very much on the conservative side but there is a reason why they only get involved in projects that have proven their worth in the market.

that is true to a degree, but if there is a broader portfolio that is used as collateral against this development then it could be completed with less rigious constraints than a stand alone development would have.

I think the important part of this is the retirement village component. that is going to deliver a re-occuring income stream for the owner so that would provide additional comfrot to lenders, obviously in addition to certain pre-sales in the non retirement village component.

I wasn't aware there was a "retirement village" component. I thought Karidis had just said that he would be targeting the retirement age demographic as downsizers but perhaps I missed something?

adel aide wrote:I wasn't aware there was a "retirement village" component. I thought Karidis had just said that he would be targeting the retirement age demographic as downsizers but perhaps I missed something?

I could well be mistaken too

that is just the way I read his release.

http://www.adelaidenow.com.au/news/275m ... 19766b0bc2

[/His masterplan, which includes a luxury penthouse for himself in one of the two 28-floor towers on site, also sporting a cinema, ground-floor hotel, roof-top restaurant, serviced apartments, retail and office spaces, pool, gym, eight floors of luxury serviced apartments for over 55s, independent retirement living and car parking.

you maybe right, that reads both luxury serviced apartments for the over 55's and Independent retirement living.

A hotel, serviced apartments and retirement village is correct and these are taken up, I'd say this is a pretty good chance at going ahead.

That is from the article in Dec last year but more recent articles from last month when they announced they had appointed Savills to market the project stated, "The project will comprise two 30-level glass towers with a mix of high-end apartments, commercial office suites, restaurants and retail outlets."

adel aide wrote:That is from the article in Dec last year but more recent articles from last month when they announced they had appointed Savills to market the project stated, "The project will comprise two 30-level glass towers with a mix of high-end apartments, commercial office suites, restaurants and retail outlets."

i guess we wait and see!

This is to be known as Echelon Apartments. Advertising has started i believe.

Dvious wrote:This is to be known as Echelon Apartments. Advertising has started i believe.

Can't wait to see this start. Will be over in Adelaide later in the year - will have a good look and talk to relevant people in the process.

The project has bulk but looks very sleek as well. Big impression in KWS Sth. They don't have be circular or like a ziggurat to be standout designs.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

Thanks for that Floplo

Ads for this development are now appearing on realestate.com

Quite upmarket marketing compared to a lot of other developments!








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thecityguy wrote:Quite upmarket marketing compared to a lot of other developments!

Actually looks cheap, trying to look upmarket. The faux brushed metal, weird photoshopping and woeful copywriting kind of kill the illusion.

I've registered. I want to find out more about this one.

If the apartments for sale start from level 20 what is going in the first 19 levels? Hotel? There is a few levels of office proposed but not that much.