A PROPOSED 30 storey, 110 metre high residential building by Cox Architecture is the latest offering set to change the face of Adelaide’s Victoria Square.
RICHARD EVANS, COMMERCIAL PROPERTY, The Advertiser
June 6, 2017
A PROPOSED 30 storey residential building is the latest offering set to change the face of Adelaide’s Victoria Square.
Adam Hannon, state manager for Cox Architecture SA, which is designing the new build on the corner of Victoria Square and Franklin St, expects the finished product to be around 110 metres high with 70 apartments. The lower floors, all with a floorplate of 725 sqm, will be retail and mixed use.
The project, the work of a group of unnamed investors he said, will sit directly in front of the 12 storey, 185 Victoria Square, and will have air rights above it, leading to an outdoor sky terrace overlooking the square. It will have an onsite car park stacker for 96 cars.
“We are delighted to have this opportunity to contribute to the Victoria Square precinct. Our proposal will build on the history and importance of our site to create a landmark development for Adelaide,” said a representative for the development group.
Mr Hannon would not name the owners but confirmed they are part of the strata titled, 185 Victoria Square. Number 187 is currently used as a car park
“They are long term Adelaide people, looking at the long term future of the city as well as looking to make a profit,” said Mr Hannon who confirmed the building will be submitted for development approval (DAC) later this year
“We will be looking to start building in early 2018 with a completion date of late 2019,” he said.
Cox Architecture, which was responsible for the design and delivery of the Adelaide Oval redevelopment and is currently working on the Adelaide Botanic High School and Her Majesty’s Theatre redevelopment, won the project brief via a small design competition Mr Hannon said.
Zis Ginos, whose Ginos Group (engineers and property developers) is based within 185 Victoria Square confirmed its strata corporation instructed Cox Architecture to deal with the new property.
“But it’s not my building,” he said.
Should the project go ahead it will compete with the planned new GPO building adjacent on Franklin St, which has a similar build time pencilled in.
Both buildings will be supported by a raft of high scale development nearby.
Work has begun on the UCity skyscraper on the site of the old Maughan Church and also on the delayed Kodo apartments diagonally opposite 187 Victoria Square.
Work is well under way at the green themed and nearby Bohem building at the top of Whitmore Square and ‘Central Adelaide’ on Grote St topped out last month.
Daniel Gannon, executive director, Property Council SA, said Adelaide is undergoing a transition from horizontal to vertical living as consumers trade in verandas for balconies and inject stimulation into the city’s night time economy.
“Residents and investors will swarm around developments that hit the right notes on price point, design, quality and nearby public amenities.
“We also need to ensure our policy makers are committed to sustainably growing our state’s population to match the upcoming supply of stock, which is providing the impetus for significant job creation and economic development.
“Investors, developers and others are putting their money where their mouth is by continuing to invest in Adelaide – now it’s time for policy change to help future-proof our economy.”
Buyers of CBD apartments were given a boost last week when the City of Adelaide announced new, and off plan, buyers will soon be exempt from council rates for five years, saving about $8,000.
“We believe that by increasing our residential population we are able to create jobs, improve safety and amenity and further increase the hospitality and cultural offerings located throughout the city,” said Lord Mayor, Martin Haese.
