[PRO] 314 King William Street | ~65m | 18 Lvls | All Suites Hotel

[Ben]

Another day 2 hotel proposals... Don't have any details on height or a render but think this will be pretty decent in size.

314 King William Street All Suite Apartment Hotel, 60 Apartments, commercial floors & retail suites

http://mmdd.dmitre.sa.gov.au/directory_ ... /276?_sp=5

[phenom]

great find!

It's a fairly narrow site although I guess reasonably deep... allowing for 'commercial floors' you'd have to hope this would be at least 8 to 10 floors. Much better than what's there...

314 KWS.jpg (51.53 KiB) Viewed 6381 times

[slenderman]

Wow, Adelaide's going nuts!

60 Apartments plus commercial floors on a pretty small footprint could be a reasonable height. Isn't that one at 124 Franklin about 30 Apartments over 15 levels and on a very small footprint? Palladium's also quite tall for not many apartments, so hopefully this will be pretty decently sized.

Hope there's some renders soon.

[Brando]

A Karidis proposal....

Let's wait and see if this design is better then the previous rubbish they have built and proposed...

[ghs]

The cost is $30 million, so on a small footprint that would be about 15 levels I would estimate.

[skyliner]

Just amazed the proposed bldg activity considering the general financial and industrial condition of the state. (As well as no more ODX at least for some time). Not complaining! Something else is behind this new spate of development - I suggest increasing momentum in favour of CBD apartment living, the effect of the AD oval and spinoffs. and an awakening that Adelaide is becoming a destination of far greater credibility than it has had in the past. Appreciate thoughts on this.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[ghs]

Adelaide ranked 5th most livable city in the world. It's a strong selling point to overseas investors.
Also for overseas investors the cost of buying an apartment here in Adelaide is cheaper then in
the other cities.

[skyliner]

Thanks GHS - did not think of these - both strong points. Also trams have helped as well.

looking forward to seeing a render.

KWS developing the spine of high rise planned for way back in 1975 Adelaide city plan.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Waewick]

Just amazed the proposed bldg activity considering the general financial and industrial condition of the state. (As well as no more ODX at least for some time). Not complaining! Something else is behind this new spate of development - I suggest increasing momentum in favour of CBD apartment living, the effect of the AD oval and spinoffs. and an awakening that Adelaide is becoming a destination of far greater credibility than it has had in the past. Appreciate thoughts on this.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

its called cheap labor and cheap interest rates.

given the economic conditions there is such a huge fight for any work people are literally doing jobs just to keep the books moving in the hope that things turn around - its not a great position to be in, but if developers keep developing it is at least keeping people employed.

I know of buildings during some recent downturns which were done at 30-40% less than their original tender price.

[skyliner]

Demand has to be there as well.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Waewick]

Demand has to be there as well.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

Not current demand necessarily

[skyliner]

Projected demand and research included of course with such constructions - not much speculative bldg in Adelaide AFAIK.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Waewick]

Projected demand and research included of course with such constructions - not much speculative bldg in Adelaide AFAIK.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

no spec per se, but a reasonably wealth person (I have seen this first hand) may look at their development, and may take a longer view on things, so rather than having to wait for 50 - 75% pre sale or equivalent, they may just get to the point that the development wipes its own nose and go from there, or in some cases, bundle up another cashflow positive development and get it going in the knowledge that

1) if it is an apartment complex, they are likely to pick up sales against potentially better development because people will be able to see theirs and make a decision based on that;
2) Assumption that property values over time will increase, therefore even if they build it now and wear an economic cost, over time it will make them money
3) in the case of commerial building, they build them the view to being able pick up tenants due to the building being completed and again viewable.

I realise this all sounds straight forward, but for your typical development project these things are not generally possible if they need a large propotion of debt to start, hence why you start to see the same names in Adelaide because chances are, they have the cash.

[Ben]

A couple of blurry renders form channel 7 news last night. I think it looks quite good.

They interviewed Mr Karidis himself last night and through his thick Greek accent he said" everything I always did, always a delivery, no question at all"... hmmm what about that 6 Level apartment building on the corner of Angus and Pulteney? What about the apartment proposal on Grenfell where Little Miss Miami, Crab Shack and dive shack are and keep extending their lease because nothing is happening?.... I can't think of anything in recent times other than 5 level east apartments and the 7 level Hume apartments he has built. Certainly never ever anything close to this scale.

[slenderman]

Here's a very quick shoddy splice job I did in MS paint of those two pictures Ben uploaded. Notice the top half of the 7 logo floating in the air