[U/C] Festival Plaza Redevelopment | $800 million

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bits
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[U/C] [U/C] [U/C] [U/C] Re: Festival Plaza Redevelopment | $800 million

#661 Post by bits » Thu Nov 22, 2018 1:33 am

Westpac have major buildings with hundreds of staff at each in Lockleys, Bedford Park and Adelaide.

That is before counting buildings under subsidiary branding.
Eg another major building with hundreds of staff for BT at Bedford Park.

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[U/C] Re: [U/C] [U/C] [U/C] Re: Festival Plaza Redevelopment | $800 million

#662 Post by Patrick_27 » Thu Nov 22, 2018 1:42 pm

bits wrote:
Thu Nov 22, 2018 1:33 am
Westpac have major buildings with hundreds of staff at each in Lockleys, Bedford Park and Adelaide.

That is before counting buildings under subsidiary branding.
Eg another major building with hundreds of staff for BT at Bedford Park.
Yes, but I think that is a strategic separation of business operation. Why would Westpac centralise their entire Adelaide corporate operations into one building, particularly when there are currently whole floors still available for lease in Westpac House which they haven't taken up?

My money is on an interstate group that doesn't already exist here or SGIC.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#663 Post by ghs » Thu Nov 22, 2018 1:49 pm

My money is on this building never going ahead. There's been rumours going around for at least
3 years now and frankly I am tired of it. Here in Adelaide we're excited about a couple of 130 metre
building going up in the city, meanwhile in Perth they're building a 150 metre building on the coastline. We need
to get real in this public servant city.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#664 Post by SRW » Thu Nov 22, 2018 2:00 pm

ghs wrote:
Thu Nov 22, 2018 1:49 pm
My money is on this building never going ahead. There's been rumours going around for at least
3 years now and frankly I am tired of it. Here in Adelaide we're excited about a couple of 130 metre
building going up in the city, meanwhile in Perth they're building a 150 metre building on the coastline. We need
to get real in this public servant city.
Given this building is supposed to be how Walker Corp profits from the whole plaza deal, I'd say it's more likely than not that it will proceed. But bear it mind the timeline for this project was always going to be longwinded; you should not be surprised if we're waiting another 2-3 years. That said, I'd be rather glad if this proposal falls over because I think there a better things we can do with public land.
Keep Adelaide Weird

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#665 Post by HiTouch » Thu Nov 22, 2018 2:35 pm

ghs wrote:
Thu Nov 22, 2018 1:49 pm
My money is on this building never going ahead. There's been rumours going around for at least
3 years now and frankly I am tired of it. Here in Adelaide we're excited about a couple of 130 metre
building going up in the city, meanwhile in Perth they're building a 150 metre building on the coastline. We need
to get real in this public servant city.
Maybe you're right though, maybe Adelaide isnt a good place and maybe it is a false economy and maybe all our excitement has been in vein.


Or maybe you're a
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[U/C] Re: Festival Plaza Redevelopment | $800 million

#666 Post by Patrick_27 » Thu Nov 22, 2018 2:42 pm

ghs wrote:
Thu Nov 22, 2018 1:49 pm
My money is on this building never going ahead. There's been rumours going around for at least
3 years now and frankly I am tired of it. Here in Adelaide we're excited about a couple of 130 metre
building going up in the city, meanwhile in Perth they're building a 150 metre building on the coastline. We need
to get real in this public servant city.
Considering the change in government, you may be right... Walker may decide to walk after he's built the carpark and sell what he's done back to the government, and to be completely honest, I would actually support such a move.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#667 Post by Jaymz » Thu Nov 22, 2018 2:55 pm

If this tower does go ahead, my guess for the anchor tenant is Beach Energy.

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[U/C] Re: [U/C] Re: [U/C] [U/C] [U/C] Re: Festival Plaza Redevelopment | $800 million

#668 Post by bits » Thu Nov 22, 2018 3:03 pm


Patrick_27 wrote: Yes, but I think that is a strategic separation of business operation. Why would Westpac centralise their entire Adelaide corporate operations into one building, particularly when there are currently whole floors still available for lease in Westpac House which they haven't taken up?
They also use the diverse sites as part of their disaster recovery plan. If they move everyone to a single site they would still want to keep at least another site at the ready that could fit everyone if required.
I doubt it is Westpac but people in this thread were asking if Westpac had 3 sites and they do have exactly that.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#669 Post by Spurdo » Thu Nov 22, 2018 8:55 pm

Jaymz wrote:
Thu Nov 22, 2018 2:55 pm
If this tower does go ahead, my guess for the anchor tenant is Beach Energy.
Could possibly also be GFG Alliance as there has been rumours of Sanjeev Gupta shifting most of if not all of GFG's Australian offices to Adelaide due to the proximity to major assets such as the Whyalla Steelworks, new mines and the proposed copper smelter.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#670 Post by ghs » Thu Nov 22, 2018 10:31 pm

Honestly there's been about 100 rumours regarding the Tennant for this, I am tired of it. To my knowledge the building doesn't even have approval.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#671 Post by Ben » Thu Nov 22, 2018 10:45 pm

The building does have approval. If the rumours bother you so much of which is a big part of forums like these maybe unsubscribe from notifications and/or stick to news sites.

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[U/C] Re: [U/C] Re: [U/C] Re: [U/C] [U/C] [U/C] Re: Festival Plaza Redevelopment | $800 million

#672 Post by Waewick » Fri Nov 23, 2018 7:56 am

bits wrote:
Patrick_27 wrote: Yes, but I think that is a strategic separation of business operation. Why would Westpac centralise their entire Adelaide corporate operations into one building, particularly when there are currently whole floors still available for lease in Westpac House which they haven't taken up?
They also use the diverse sites as part of their disaster recovery plan. If they move everyone to a single site they would still want to keep at least another site at the ready that could fit everyone if required.
I doubt it is Westpac but people in this thread were asking if Westpac had 3 sites and they do have exactly that.
They actually have 5 sites over the 2 brands.

Westpac also shares space with BOM in Melbourne and St George in Sydney.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#673 Post by Brucetiki » Fri Nov 23, 2018 2:30 pm

SRW wrote:
Thu Nov 22, 2018 1:21 am
Didn't someone once say here that SGIC was overflowed from their new headquarters? Although 'new' would be 12-13 years old by the time this is likely to be finished, so they could be contenders.
I thought SGIC offshored everything?

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#674 Post by claybro » Fri Nov 23, 2018 3:18 pm

I for one would be concerned to see someone like Westpac consolidate all of its operations to one building in the CBD just for the sake of us having one more tower build quickly. Not everyone wants/can travel into the CBD for work. People need good quality jobs in the suburbs. Far better for the government to target (subsidise) a new player to take up the space. The subsidy would be soon payed back in increased economic activity in the city.

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[U/C] Re: Festival Plaza Redevelopment | $800 million

#675 Post by CDJ » Fri Nov 23, 2018 4:48 pm

The office tower has approval.
Design is progressing to IFC now. It will be built.
Basement retention piling and excavation will commence in Jan.

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