News & Discussion: General CBD Development

All high-rise, low-rise and street developments in the Adelaide and North Adelaide areas.
Message
Author
SBD
Legendary Member!
Posts: 987
Joined: Thu Apr 03, 2014 3:49 pm
Location: Blakeview
Has thanked: 305 times
Been thanked: 76 times

Re: News & Discussion: General CBD Development

#2341 Post by SBD » Thu Jun 27, 2019 12:53 pm

Ben wrote:
Thu Jun 27, 2019 11:13 am
Since the change in government last year we have had no new large apartment buildings start pre sales that i can think of. I assume this is because of the now killed off stamp duty concession. Once Realm, Adelaidean and Luminesque are complete over the next 12 months there is nothing else in the pipeline. I think its a bit concerning as we have seen how long projects take to get from proposal to construction stage. The government need to incentavise people moving to the CBD. Not necessarily stamp duty concession but something. Perhaps it should have been phased out over a number of years rather then a blanket cut off.
I think there were a couple on here that did not get off the ground. Perhaps the market is saturated for now, and developers need to wait until people have moved in to these buildings and talked to their friends about how wonderful apartment living is to get another boost of interest in new proposals. The publicity about one that cooked its residents woudn't have helped, either. There's still construction in Bowden which is pretty central, too.

floplo
High Rise Poster!
Posts: 190
Joined: Tue Apr 14, 2015 8:43 pm
Has thanked: 5 times
Been thanked: 13 times

Re: News & Discussion: General CBD Development

#2342 Post by floplo » Thu Jun 27, 2019 2:29 pm

Ben wrote:
Thu Jun 27, 2019 11:13 am
Since the change in government last year we have had no new large apartment buildings start pre sales that i can think of. I assume this is because of the now killed off stamp duty concession. Once Realm, Adelaidean and Luminesque are complete over the next 12 months there is nothing else in the pipeline. I think its a bit concerning as we have seen how long projects take to get from proposal to construction stage. The government need to incentavise people moving to the CBD. Not necessarily stamp duty concession but something. Perhaps it should have been phased out over a number of years rather then a blanket cut off.
Penny Place (Stage 2 for Kodo) ?
Sky apartments on Pulteney ? (although that was more of a rebadge, admittedly)
Momentum on East Terrace / Rundle Street (how long is that already on the market ?)

I doubt that it really has to do with the stamp duty concession (that was a rebate of 2-3%, if I get that right, so nothing that's really not that far off normal annual price volatility), but with the perceived profitability of other usage models. There are a whole bunch of hotels and student housing blocks in construction or the pipeline, so developers see a higher return in that than in apartments, which dominated the most recent years. I guess that apartment projects will return when the market for hotel and student beds gets saturated and private housing demand has started to build up.

(as an aside, given Realm's heavy overseas marketing, I would venture a guess that this will have an unofficial but substantial student population as well)

Nort
Legendary Member!
Posts: 1045
Joined: Tue Feb 09, 2010 2:08 pm
Has thanked: 202 times
Been thanked: 125 times

Re: News & Discussion: General CBD Development

#2343 Post by Nort » Thu Jun 27, 2019 4:08 pm

floplo wrote:
Thu Jun 27, 2019 2:29 pm
I doubt that it really has to do with the stamp duty concession (that was a rebate of 2-3%, if I get that right, so nothing that's really not that far off normal annual price volatility)
Maybe, but I wouldn't be so sure. Stamp duty concessions on the apartments made a massive difference in the size of the deposit you needed to have saved to get in.

Smithy85
High Rise Poster!
Posts: 234
Joined: Mon Jan 26, 2015 11:31 am
Has thanked: 22 times
Been thanked: 13 times

Re: News & Discussion: General CBD Development

#2344 Post by Smithy85 » Thu Jun 27, 2019 6:31 pm

The introduction of the foreign investor levy/surcharge would not be helping either. Double whammy with the stamp duty concessions being stopped.

citywatcher
High Rise Poster!
Posts: 491
Joined: Sun Jul 15, 2007 5:51 pm
Has thanked: 13 times
Been thanked: 60 times

Re: News & Discussion: General CBD Development

#2345 Post by citywatcher » Thu Jun 27, 2019 6:40 pm

I don't see it as a problem
We will get better and more sustainable development

Sent from my SM-J730G using Tapatalk


User avatar
SRW
Donating Member
Donating Member
Posts: 2229
Joined: Fri Jun 08, 2007 9:42 pm
Location: City
Has thanked: 485 times
Been thanked: 199 times

Re: News & Discussion: General CBD Development

#2346 Post by SRW » Thu Jun 27, 2019 11:54 pm

Smithy85 wrote:
Thu Jun 27, 2019 6:31 pm
The introduction of the foreign investor levy/surcharge would not be helping either. Double whammy with the stamp duty concessions being stopped.
More likely the expiration of stamp duty concessions, as the Liberals added exemptions to the foreign investor tax. Although, foreign investment is still down though due to federal changes and the restrictions China's placed on their citizens moving money out of the country.
SRW wrote:
Fri Jan 18, 2019 11:02 am
The Libs have created exemptions for the residential foreign investor tax so that developers of projects with 20+ allotments can get a waiver. Hopefully it will see some more city developments get across the line:
Image
Keep Adelaide Weird

User avatar
SRW
Donating Member
Donating Member
Posts: 2229
Joined: Fri Jun 08, 2007 9:42 pm
Location: City
Has thanked: 485 times
Been thanked: 199 times

Re: News & Discussion: General CBD Development

#2347 Post by SRW » Tue Jul 02, 2019 10:04 pm

Developer puff piece on Today Tonight if you're interested in their spin on the city apartment market and some shots of Kodo:
https://www.facebook.com/ttadelaide/vid ... AwMjUzMjk/
Keep Adelaide Weird

Jaymz
Legendary Member!
Posts: 524
Joined: Sat Mar 22, 2014 5:12 pm
Has thanked: 31 times
Been thanked: 69 times

Re: News & Discussion: General CBD Development

#2348 Post by Jaymz » Sun Jul 07, 2019 11:35 pm

As usual, no pics from myself. But walked down Pirie Street today. Number 74 has signage and under a full refurb.... 6 or 7 level building, Maras the owner/developer.

Jaymz
Legendary Member!
Posts: 524
Joined: Sat Mar 22, 2014 5:12 pm
Has thanked: 31 times
Been thanked: 69 times

Re: News & Discussion: General CBD Development

#2349 Post by Jaymz » Tue Jul 16, 2019 7:16 pm

Sounds like a good idea to me. Article from todays online version of The Advertiser......




"Adelaide City Councillor Alexander Hyde wants to prevent demolition until construction is ready to start

An Adelaide City councillor says developers need to be shovel-ready before demolishing buildings, as too many are left empty.

Celeste Villani, City Editor, The City

July 16, 2019 7:05am



An Adelaide City councillor is pushing for tighter building controls across the CBD to stop developers from demolishing buildings then leaving sites vacant.

Cr Alexander Hyde will on Tuesday night call on the council to ask the State Government to review demolition controls to prevent existing buildings from being bulldozed until construction is ready to start.

Developers would have to provide they were shovel ready before demolishing a property.

Cr Hyde said there was a “deficiency” in the law which allowed developers to “prematurely” demolish buildings – a behaviour he said had to be stamped out.

He highlighted the demolition of two 1880s bluestone cottages that were razed in 2016, despite being in good condition, to make way for an $18 million apartment complex that fell though in November last year.



“There was a pair of bluestone historic places on Hutt St that were demolished for the (41-apartment Opus project) that never went ahead because there was not enough presale,” Cr Hyde said.

“Buildings can be demolished but there is no guarantee they will be replaced and there are already too many vacant lots with nothing on them in the city.

“(Buildings) should only be demolished at a point where it will actually be replaced.”

A council report suggested Lord Mayor Sandy Verschoor write to the Planning Minister Stephan Knoll and the State Planning Assessment Commission requesting developers seek a separate approval to demolish properties.

That would be on top of original approvals.

Under the proposal, she would also ask for the creation of “robust policies” to ensure buildings were not prematurely demolished.



Tighter demolition controls would have to be addressed in State Government planning reforms.

“We understand that the desired demolition outcome will need to be achieved through the yet to be drafted Planning and Design Code,” a report to the council said.

Property Council of Australia (SA Branch) Daniel Gannon said it did not seem like an “unreasonable proposition”.

The State Government was contacted for comment."

cmet
Gold-Member ;)
Posts: 71
Joined: Tue Mar 20, 2018 3:03 pm
Been thanked: 50 times

Re: News & Discussion: General CBD Development

#2350 Post by cmet » Thu Jul 18, 2019 8:02 am

Image considering sensational Adelaide is the home of experts I’m surprised they didn’t come here and offer jobs directly

User avatar
Norman
Donating Member
Donating Member
Posts: 5616
Joined: Sun Mar 25, 2007 1:06 pm
Has thanked: 752 times
Been thanked: 1298 times

Re: News & Discussion: General CBD Development

#2351 Post by Norman » Thu Jul 18, 2019 10:18 am

Not many people here would have the required accreditation to fulfil that job application criteria.

User avatar
SRW
Donating Member
Donating Member
Posts: 2229
Joined: Fri Jun 08, 2007 9:42 pm
Location: City
Has thanked: 485 times
Been thanked: 199 times

Re: News & Discussion: General CBD Development

#2352 Post by SRW » Thu Jul 18, 2019 11:36 am

Also the CAP doesn't assess much that really interests us anymore (<$10m).
Keep Adelaide Weird

Ben
VIP Member
VIP Member
Posts: 6605
Joined: Mon Dec 19, 2005 11:46 am
Location: Adelaide
Has thanked: 249 times
Been thanked: 989 times

Re: News & Discussion: General CBD Development

#2353 Post by Ben » Thu Jul 18, 2019 1:12 pm

ANZ cnr King William and Waymouth is closed for renovations. Must be extensive as says they don't reopen until October 30! :shock:

User avatar
ChillyPhilly
Legendary Member!
Posts: 1336
Joined: Sun Dec 07, 2008 11:35 pm
Location: Adder-Laid, South Australia.
Has thanked: 252 times
Been thanked: 285 times
Contact:

Re: News & Discussion: General CBD Development

#2354 Post by ChillyPhilly » Fri Jul 19, 2019 12:59 am

Norman wrote:
Thu Jul 18, 2019 10:18 am
Not many people here would have the required accreditation to fulfil that job application criteria.
As I've found, getting the qualification is the easier part.
Our state, our city, our future.

All views expressed on this forum are my own.

Post Reply

Who is online

Users browsing this forum: Allkai, Google [Bot], Google Adsense [Bot] and 13 guests