[COM] 1 King William St | Facade Upgrade | $12m

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[COM] Re: U/C: 1 King William St | Facade Upgrade | $12m

#76 Post by how good is he » Wed Jul 02, 2014 4:41 pm

That's what I was told and believe also ie that Origin were going/had gone but in replies above by ml69 (with Waewick?) they seem to think otherwise....someone confirm please.

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[COM] Re: U/C: 1 King William St | Facade Upgrade | $12m

#77 Post by Norman » Wed Jul 02, 2014 11:32 pm

how good is he wrote:That's what I was told and believe also ie that Origin were going/had gone but in replies above by ml69 (with Waewick?) they seem to think otherwise....someone confirm please.
They are indeed moving, as told by a very reliable source.

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[COM] Re: U/C: 1 King William St | Facade Upgrade | $12m

#78 Post by Hybrid » Thu Jul 03, 2014 7:46 am

Origin are moving to 100 Waymouth in full by late November. The move will be a staged process including internal moves because of the need to refit internal floors to comply with the current lease.

Flight Centre have already moved into two top floors (though these have not been Origin floors for many years).

There was also meant to be extensive work to the foyer of the building including a double height atrium and security gates, however this has been scapped/ on hold until another major tenant is found.

Hope this clears everything up

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#79 Post by Bacon » Fri Jun 08, 2018 3:08 pm

It's only taken 4 years to find a major tenant but Suncorp have commited to taking up 4660m2

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#80 Post by Llessur2002 » Fri Oct 18, 2019 9:29 am

I wonder if this means that 1 KWS was one of the buildings affected by the combustible cladding issue (SA's resolution to which being to remove the affected cladding to 3m above ground level)?

I didn't think this ground-level cladding looked like it had an aluminium skin so it could just be that this is being done for other reasons but if it is the former than it's an interesting solution as the Grenfell Tower fire which preceded this investigation did not start at ground level...

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#81 Post by dbl96 » Fri Oct 18, 2019 10:39 am

Llessur2002 wrote:
Fri Oct 18, 2019 9:29 am
I wonder if this means that 1 KWS was one of the buildings affected by the combustible cladding issue (SA's resolution to which being to remove the affected cladding to 3m above ground level)?

I didn't think this ground-level cladding looked like it had an aluminium skin so it could just be that this is being done for other reasons but if it is the former than it's an interesting solution as the Grenfell Tower fire which preceded this investigation did not start at ground level...

Image
Are those tile spacers I can see on the part of the building where cladding has been removed? Did the cladding have to actually be replaced, or have they just exposed the surface beneath?

Cladding that tower was an awful decision. 1 King William was once one of Adelaide's most attractive and timeless towers. The plasticy orange and grey cladding and random slanty bits just looks terrible.

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#82 Post by Llessur2002 » Fri Oct 18, 2019 10:43 am

dbl96 wrote:
Fri Oct 18, 2019 10:39 am
Are those tile spacers I can see on the part of the building where cladding has been removed? Did the cladding have to actually be replaced, or have they just exposed the surface beneath?

Cladding that tower was an awful decision. 1 King William was once one of Adelaide's most attractive and timeless towers. The plasticy orange and grey cladding and random slanty bits just looks terrible.
Yeah they're spacers - the bottom 3(ish) meters has had the cladding removed and is being tiled this morning. Not sure why they didn't go the full mile and replace it up to the top of the glazed area, or even up to the awning level. Looks like a bit of an arbitrary cut off at this level.

This renovation has done the opposite of grow on me - I thought it didn't look too bad at the time but the longer it's been around the cheaper it looks. It's also a shame about the dummy Bank of China outlet taking up such a large part of the ground floor KWS frontage - there's not been a soul in there since it was constructed and it does absolutely nothing for activation.

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#83 Post by Pants » Sat Oct 19, 2019 2:04 pm

dbl96 wrote:
Fri Oct 18, 2019 10:39 am

Cladding that tower was an awful decision. 1 King William was once one of Adelaide's most attractive and timeless towers. The plasticy orange and grey cladding and random slanty bits just looks terrible.
The original stone was crumbing and in danger of falling on pedestrians, so they had to clad over it.

Agree that the end result isn’t great though.

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#84 Post by Patrick_27 » Sat Oct 19, 2019 2:30 pm

Pants wrote:
Sat Oct 19, 2019 2:04 pm
dbl96 wrote:
Fri Oct 18, 2019 10:39 am

Cladding that tower was an awful decision. 1 King William was once one of Adelaide's most attractive and timeless towers. The plasticy orange and grey cladding and random slanty bits just looks terrible.
The original stone was crumbing and in danger of falling on pedestrians, so they had to clad over it.

Agree that the end result isn’t great though.
I've never read such BS in my life. The stone on this building was that of a marble type, that kind of stone doesn't crumble, and if it were crumbling, they wouldn't simply be able to clad over it, they'd have to remove it entirely.

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#85 Post by Pants » Sat Oct 19, 2019 8:21 pm

Patrick_27 wrote:
Sat Oct 19, 2019 2:30 pm
Pants wrote:
Sat Oct 19, 2019 2:04 pm
dbl96 wrote:
Fri Oct 18, 2019 10:39 am

Cladding that tower was an awful decision. 1 King William was once one of Adelaide's most attractive and timeless towers. The plasticy orange and grey cladding and random slanty bits just looks terrible.
The original stone was crumbing and in danger of falling on pedestrians, so they had to clad over it.

Agree that the end result isn’t great though.
I've never read such BS in my life. The stone on this building was that of a marble type, that kind of stone doesn't crumble, and if it were crumbling, they wouldn't simply be able to clad over it, they'd have to remove it entirely.
Okay then.

Crumbling might not be exactly right, but it’s close enough to “falling off” and “decaying”...

https://www.afr.com/property/the-140m- ... 207-gu74jt
The $140m fixer upper: how an Adelaide landmark was transformed
Nick Lenaghan
Nick LenaghanProperty Editor
Feb 15, 2017 — 12.15am

Distressed, decrepit and in the hands of receivers seven years ago, Adelaide's first skyscraper, 1 King William Street, may soon be back in the market after a top-to-bottom overhaul.
In 2010, it changed hands for $38.6 million. Today it could be worth as much as $140 million.
While the potential capital gain is dramatic, as impressive is the effort and ingenuity that has been put into its turnaround.

Built by AMP in 1968, the 20,500 square metre building is a textbook case for the dilemma facing owners of a generation of the country's buildings. Many of them may be worth too much to demolish, but appear too difficult to upgrade.

That was a problem that Anvil Capital's Adam Learmonth took on, for a small club of investors, with their acquisition from receivers of the Record Realty Trust in 2010.

"You had a facade falling off, most of the plant and equipment was very dilapidated and 100 per cent of the building was expiring over a four-year period," Mr Learmonth told The Australian Financial Review.
"The anchor tenant was a known departure and they had 70 per cent of the building.
"Anyone coming in knew they had to take on 20,000 square metres of leasing risk in Adelaide. It wasn't for the faint-hearted."

In Anvil's favour, though, was the fact the building had "good bones", as Mr Learmonth puts it.
According to him, the building was designed by AMP's own property engineers, who took a long-term view on their tower.

That meant they planned decades ahead for the eventual need to replace key plant.
Unlike in some buildings, where holes have had to be cut into the roof to allow replacement of lift motors and chillers, 1 King William already had a gantry in place to help remove ageing plant.
"Once we got into the due diligence we realised there would be some significant savings here by being able to rest on these things they had done," he said.

The restoration of the building has been undertaken in three stages. First was the behind-the-scenes work, with fire upgrades, mechanical upgrades and a full lift replacement.

Decaying badly
Then came the replacement of the travertine facade, which was decaying badly. The final stage, begun after the departure of Origin Energy, was a floor-by-floor refurbishment to the office space.
The end result of those efforts will take energy efficiency of the building from 1.5 star NABERS rating on acquisition to a targeted 5.5 stars.

While the engineering involved was complex, managing the logistics involved in the renovation was even more crucial to Anvil's success.
At any one time, dozens of specific projects were under way. The key issue for Anvil was maintaining tenants and income while an expensive refurbishment was under way.
That juggling act has caught the attention of others. Mr Learmonth is regularly fielding phone calls from engineers interstate keen to understand how he managed it.
"This idea of how to retrofit buildings and how to do it while you still have tenants in there, we didn't really have a play book. A lot of other people will inevitably have to follow in our path," Mr Learmonth said.

Occupancy in their building is now at 62 per cent and, managed by Anvil, its ownership club will at some point consider whether to put it back into the market.

At that time they will reap the fruits of their patient investment. Notwithstanding, the restoration of the Adelaide landmark holds broader lessons for the country's ageing building stock.
"It doesn't make sense financially in every case to just knock a building down," Mr Learmonth said. "A lot of it has to be done with tenants still in there."

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[COM] Re: 1 King William St | Facade Upgrade | $12m

#86 Post by rhino » Mon Oct 21, 2019 9:28 am

…... Adelaide's first skyscraper, 1 King William Street ......
Actually, Adelaide's first skyscraper was the T&G building on the corner of King William and Grenfell Streets. It was built in 1925.

Admittedly, when the AMP building was built in 1968 it was Adelaide's tallest building, and the definition of and specs for a skyscraper may have changed with the times, but the T&G building is still recognised as Adelaide's first skyscraper.
cheers,
Rhino

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