[U/C] Victoria Tower - 36 Grote Street | 123m | 35 levels | apartments

[Ben]

I looked through the scap document and couldn’t see a cost. It was a quick look though. Kodo was $100m and this one is taller and much more glass. I think they’ve dropped a 0 off the end.

[rev]

$25 mil? Probably 100% cheap nasty made in China building products from slave labor.

[cmet]

$25 mil? Probably 100% cheap nasty made in China building products from slave labor.

What’s with your obsession with China

[rev]

$25 mil? Probably 100% cheap nasty made in China building products from slave labor.

What’s with your obsession with China

People commented about the cost, suggesting it might be a typo. I suggested another possibility.

[Nort]

$25 mil? Probably 100% cheap nasty made in China building products from slave labor.

What’s with your obsession with China

People commented about the cost, suggesting it might be a typo. I suggested another possibility.

Oh, so you legit think this tower could possibly be built for $25 million? You really think that's possible?

[rev]

What’s with your obsession with China

People commented about the cost, suggesting it might be a typo. I suggested another possibility.

Oh, so you legit think this tower could possibly be built for $25 million? You really think that's possible?

Why don't you tell us, through all your infinite wisdom, how much you think this is going to be built for.

[Nort]

People commented about the cost, suggesting it might be a typo. I suggested another possibility.

Oh, so you legit think this tower could possibly be built for $25 million? You really think that's possible?

Why don't you tell us, through all your infinite wisdom, how much you think this is going to be built for.

More than $25 million for sure. Assuming they didn't just make up a random number (entirely possible) the main possibility seems to be the one that Ben suggested, that a digit has dropped. So either $125 million, or $250 million.

I'd guess $125 million.

Thanks for the compliment by the way, but I definitely wouldn't describe myself as having any more wisdom than the average on this board.

[Smithy84]

Approved.

[Patrick_27]

I'm sure $25m is likely a mistake but if not, I question the quality of the building considering it's a larger build that 203 North Terrace and yet would come in $5m less if it were $25m...

[phenom]

I'll suggest a third option, which applies to several other proposals recently put up where the cost seemed too low. And that's that the approval fees payable for the development is a percentage of the stated cost, and no doubt some are deliberately understating the cost of the development to reduce the fee payable. On some of these, they are easily saving $100 to $200k by giving these stupidly low figures.

[Ben]

Another 2 levels. Should be around 126m now.

36 GROTE ST ADELAIDE SA 5000
UNDER ASSESSMENT
Description
Variation to 020/A155/20 - Increase height of building from 33-storeys to 35-storeys, increase gross leasable floor area, relocation and increase size of communal space, increase number of apartments from 265 to 284, inclusion of additional lift shaft, increased width of ground floor canopy to address Reserved Matter 1 and minor changes to external appearance and roof form

[Patrick_27]

New render for this posted by Howie on the FB page.

Looks stunning, surprisingly similar to the Sofitel build. However, if this does get up, I'll reserve judgement until it's complete; the budget outlined still concerns me.

[Algernon]

I think this one has a pretty good chance of going ahead. Considering the developer and the location especially, I think just about the whole tower will get sold out to people who'll rarely even set foot in the country. Just skip a few 4s and add a few 8s and it'll sell. Only concern would be on the construction side in securing contractors, but the chinese dvelopers are building enough of a footprint here that it shouldn't be too big a problem (although they wouldn't have a big presence in Adelaide, yet). This is roughly the same scale as the tower blocks they'll put up anywhere in metro Sydney without a second thought.

[Nort]

I'm hoping this goes up mainly because it will be a nice counterpoint to the Central Market tower. If the two are under construction at the same time especially it will be a fantastic gateway into the city.

[ChillyPhilly]

Not sure if previously mentioned, but Coles closes in March next year.