Search found 58 matches

by AdelaideGo
Fri Jul 15, 2016 5:24 pm
Forum: CBD Development
Topic: [U/C] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower
Replies: 468
Views: 151555

[U/C] Re: U2 on Waymouth - 114 Waymouth Street | 78m | 26lvl

Property development is a risky business.

10% revenue drop compounded with 10% cost increase, would turn a potentially profitable project into lose.

The failure rate for Adelaide CBD apartment project is more than 70% (7 out of 10 project), even after the developer has received development approval.
by AdelaideGo
Fri Jul 15, 2016 4:24 pm
Forum: CBD Development
Topic: [U/C] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower
Replies: 468
Views: 151555

[U/C] Re: U2 on Waymouth - 114 Waymouth Street | 78m | 26lvl

With pre-sales at a level that is enough to cover 100% debt and interest and GST and selling cost, the bank will generally look for 25 to 30% profit margin. In terms of absolute profit figures, in the scale of a project like U2, the developer need to demonstrate that he can make approx $30 million, ...
by AdelaideGo
Fri Jul 15, 2016 1:32 pm
Forum: CBD Development
Topic: [U/C] 69-71 Light Square | ~55m | 14lvls | Residential
Replies: 214
Views: 87510

[U/C] Re: 69-71 Light Square | 75m | 19lvls | Residential

The price of car stacker varies between $5,000 and $80,000 per car space. The types that were used in Palladium would probably cost $30,000 per space. Besides of car stacker, I think Palladium should not have the commercial on its lower levels. Instead of loading all these extra "risk factors" into ...
by AdelaideGo
Fri Jul 15, 2016 12:24 pm
Forum: CBD Development
Topic: [U/C] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower
Replies: 468
Views: 151555

[U/C] Re: U2 on Waymouth - 114 Waymouth Street | 78m | 26lvl

I have a copy of their valuation report from JLL dated Dec 2015. U2 has been sending it out to a lot of finance broker, hoping to get a deal done.
by AdelaideGo
Fri Jul 15, 2016 11:52 am
Forum: CBD Development
Topic: [U/C] 114 Waymouth Street | 78m | 26lvl | Wingfold Tower
Replies: 468
Views: 151555

[U/C] Re: U2 on Waymouth - 114 Waymouth Street | 78m | 26lvl

U2 has not fudged their figures, they have sold more than 80%. Problem is, they have sold it for too cheap, the whole project is only making $110 million gross, after minus GST and sales commission and marketing cost, the developer only gets around $94 million. Their build cost is around $72 million...
by AdelaideGo
Fri Jul 15, 2016 11:43 am
Forum: CBD Development
Topic: [ONH] New Mayfield | 41-61m | 11-17lvls | Mixed Use
Replies: 430
Views: 147509

[ONH] Re: New Mayfield | 41-61m | 11-17lvls | Mixed Use

New Mayfield is going to be another Palladium on Light. They have a debt of 25/26 million, while the land is only worth less than 10 mill. Unless they can find a way to separate the basement parking of stage 1 from the later stages, the build cost of the 1st stage alone is already more than $70 mill...
by AdelaideGo
Fri Jul 15, 2016 11:31 am
Forum: CBD Development
Topic: [U/C] 69-71 Light Square | ~55m | 14lvls | Residential
Replies: 214
Views: 87510

[U/C] Re: 69-71 Light Square | 75m | 19lvls | Residential

I am told that Hindmarsh is in the process of terminating their sales agreements with the buyers, Julianne Price and Inspire are trying to convert the buyers into buying The One, Kodo and Central Adelaide.
by AdelaideGo
Sat Apr 02, 2016 12:56 pm
Forum: CBD Development
Topic: [COM] West Franklin | 54m & 64m | 17 & 20 lvls | Apartments
Replies: 383
Views: 108157

[COM] Re: [West Franklin] | 63/54m | 3 x 17-20lvls | Apartments

I thought the politicians in Australia are more clever than this, how can a MP allow himself to be dragged into a scam like this.... From what I have been told, U2 still doesn't have a builder and their bank valuation is a disaster. Their valuer thinks that their residual site value is close to zero.
by AdelaideGo
Sat Apr 02, 2016 2:59 am
Forum: CBD Development
Topic: [COM] West Franklin | 54m & 64m | 17 & 20 lvls | Apartments
Replies: 383
Views: 108157

[COM] Re: [West Franklin] | 63/54m | 3 x 17-20lvls | Apartments

Don't they require approval from the Adelaide City Council to carry out any demolition? When I search the development application tracking system of ACC, all I can see is an approval to setup a showroom.
by AdelaideGo
Thu May 29, 2014 12:14 pm
Forum: CBD Development
Topic: [COM] 152-160 Grote Street | 58m | 19 lvls | Mixed Use
Replies: 399
Views: 124470

[COM] Re: APP: 152-160 Grote Street | 52m | 17lvls | Mixed Use

This one goes before DAc this thurs with amendements. Increase in height to 57.5m and additional 2 levels of carparking above ground. No more basement car parking. Deletion of cinema and instead 1 more 1 bedroom apartment. The cinema and gym is moved to lower levels facing Grote Street, with the ca...
by AdelaideGo
Thu May 29, 2014 12:12 pm
Forum: CBD Development
Topic: [COM] 413 KWS Vue on King William | 89m | 28Lvl | Residential
Replies: 1086
Views: 229029

[COM] Re: APP: 413 KWS Vue on King William | 86m | 27Lvl | Residen

Developers consistently quote very low building cost in the development application, because this is what the application assessment fee base on. The real cost for this building including interest will exceed $70 million.
by AdelaideGo
Fri Apr 04, 2014 6:19 pm
Forum: CBD Development
Topic: [COM] 413 KWS Vue on King William | 89m | 28Lvl | Residential
Replies: 1086
Views: 229029

[COM] Re: APP: 413 King William St | 86m | 27Lvls | Residential

According to their marketing agent, Ironfish, 40% of their 200 apartments are sold in 2 weeks.
by AdelaideGo
Wed Oct 02, 2013 5:33 pm
Forum: CBD Development
Topic: [COM] 176-186 Morphett Street | 59m | 18lvls | Residential
Replies: 344
Views: 105979

[COM] Re: SWP: 176-186 Morphett Street | 59m | 18lvls | Residentia

Without the additional car park, simply no customer will buy the apartments. That's not the issue. This isn't additional residents' parks, it seems to be an increase due to office space. Trust me, the parking are for the resident (all if not mainly). If you don't believe me, go to talk to the sales...
by AdelaideGo
Wed Oct 02, 2013 2:59 pm
Forum: CBD Development
Topic: [COM] 176-186 Morphett Street | 59m | 18lvls | Residential
Replies: 344
Views: 105979

[COM] Re: SWP: 176-186 Morphett Street | 59m | 18lvls | Residentia

Without the additional car park, simply no customer will buy the apartments.
by AdelaideGo
Wed Jul 03, 2013 12:41 pm
Forum: CBD Development
Topic: [COM] 152-160 Grote Street | 58m | 19 lvls | Mixed Use
Replies: 399
Views: 124470

[COM] Re: APP: 152-160 Grote Street | 52m | 17lvls | Mixed Use

From yesterday's paper.
Advertiser - 20130702.jpg
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