[COM] 413 KWS Vue on King William | 89m | 28Lvl | Residential

[Will]

LOOKS AWESOME!

Please, please, please be built! At 86m it would be our sixth tallest building, and would help boost our growing southern skyline. Would be wonderful to see something happen on that empty lot, which has been that way for like six years now. It would just be great to have something hide that hideous carpark behind it.

What is your obsession with building tall buildings in Adelaide?

We don't need anymore office or residential space, pre-existing sites barely manage fill up - let alone new buildings.

Surely you understand that these proposals are being financed by the private sector? If they didn't think there was a market, they wouldn't bother.

[Will]

From the City Messenger:

411-427 King William St

At 27 storeys and standing 85m, Vue on King William would be Adelaide's tallest residential building.

Asian Pacific Group is seeking to build a $100 million, 27-storey tower at the southern end of King William St, to be Adelaide's tallest residential building. The Vue on King William would be a 85m tall, 205-apartment building with a five-floor base with a rooftop garden and recreation centre on the sixth floor, below a 21-level glass tower.

Asian Pacific Group CEO Will Deague said site works would start in July, pending approval. "The project will add to the vibrancy of the city, which is already enjoying a resurgence with the redevelopment of key precincts within the CBD," Mr Deague said





411-427 King William St is planned to stand 27-storey high. Source: Supplied


Valued at $100 million with a $30 million construction cost, the Asian Pacific Group project between South Tce and Gilles St would have 205 apartments with no more than 10 any level.

The building would have a five-floor base with a rooftop garden and recreation centre on the sixth floor, below a 21-level glass tower.

About two-thirds of the apartments would be one-bedroom and the rest two-bedroom, plus four three-bed penthouses.

The building would have 172 parking spaces over six levels and room for 226 bicycle parks.

There would be two ground floor commercial tenancies.

Vue on King William would add to the rapidly growing precinct at the southern end of King William St that in recent years has seen the addition of The Wave and Edge buildings, the Credit Union Centre and a soon to open Quest Apartments building.

If approved, site works would begin in July.

Asian Pacific Group would partner with local development firm Starfish Developments for the project, which would create around 200 construction jobs.

[skyliner]

Fantastic! REALLY hope it is built. Seems nothing over 25 floors eventuates.

ADELAIDE - TOWARDS A GREATER CITY SKYLINE

[Kasey771]

I like it but I can hear the thundering herd of BANANAs(Build Absolutely Nothing Anywhere Near Adelaide) and FRUITs (Fear of Revitalization Urban-Infill and Towers)getting their residents action committee cardigans on:(
Oh dear tall buildings. I hope the DAC gives them the go ahead:)

[serca]

LOOKS AWESOME!

Please, please, please be built! At 86m it would be our sixth tallest building, and would help boost our growing southern skyline. Would be wonderful to see something happen on that empty lot, which has been that way for like six years now. It would just be great to have something hide that hideous carpark behind it.

What is your obsession with building tall buildings in Adelaide?

We don't need anymore office or residential space, pre-existing sites barely manage fill up - let alone new buildings.

Fare Dinkum that was an average comment .

[ml69]

I'd absolutely love to see this get built, but ......

Of all the recent development announcements - 19 storeys on North Tce, 11 storeys on Whitmore Sq and 32 storeys on Currie/Rosina St - I actually think this one has the least chance of getting built.

The reason I say this is that 205 apartments is a heck of a lot of apartments to sell around South Tce. If you look at precommitment of (say) 70% before a bank will bankroll it, that's 140 apartments to be sold off-the-plan. Does anything stand out in this apartment development compared to others around the Adelaide CBD which haven't sold well .... hmmm .... I can't see anything really special about it.

The only way they could possible move that volume of apartments is VERY, VERY, VERY attractive pricing. That would be the key for this development.

[obituary resider]

Slight similarities in the formal expressiveness with this and the IAC Building in New York by Frank Gehry.

[Brando]

I'd absolutely love to see this get built, but ......

Of all the recent development announcements - 19 storeys on North Tce, 11 storeys on Whitmore Sq and 32 storeys on Currie/Rosina St - I actually think this one has the least chance of getting built.

The reason I say this is that 205 apartments is a heck of a lot of apartments to sell around South Tce. If you look at precommitment of (say) 70% before a bank will bankroll it, that's 140 apartments to be sold off-the-plan. Does anything stand out in this apartment development compared to others around the Adelaide CBD which haven't sold well .... hmmm .... I can't see anything really special about it.

The only way they could possible move that volume of apartments is VERY, VERY, VERY attractive pricing. That would be the key for this development.

I'm sure you already know mate, this is the same group behind the old DTEI redevelopment in Walkerville the 'Watson'. They have done really well selling these and have also learnt from Adelaide and the market here.

I know they're keen to improve on what is already on offer in the city and offer something different.

So in a way, this is probably the one I am most confident will proceed. I certainly hope so....

[wilkiebarkid]

The Advertiser Feb 1

Approved and should commence construction July this year.

I am so glad that this development is taller than the Optus building. I am sure if the Council had the decision making here they would have capped it at the same height as Optus.

[[Shuz]]

Actually, if it was up to the Council, the original 40m height limit would have stayed in place. A height limit, which incidentally, was lower than the Optus House itself! :S

Glad it's approved, and hopefully gets up and about quickly.

[ml69]

I'd absolutely love to see this get built, but ......

Of all the recent development announcements - 19 storeys on North Tce, 11 storeys on Whitmore Sq and 32 storeys on Currie/Rosina St - I actually think this one has the least chance of getting built.

The reason I say this is that 205 apartments is a heck of a lot of apartments to sell around South Tce. If you look at precommitment of (say) 70% before a bank will bankroll it, that's 140 apartments to be sold off-the-plan. Does anything stand out in this apartment development compared to others around the Adelaide CBD which haven't sold well .... hmmm .... I can't see anything really special about it.

The only way they could possible move that volume of apartments is VERY, VERY, VERY attractive pricing. That would be the key for this development.

I'm sure you already know mate, this is the same group behind the old DTEI redevelopment in Walkerville the 'Watson'. They have done really well selling these and have also learnt from Adelaide and the market here.

I know they're keen to improve on what is already on offer in the city and offer something different.

So in a way, this is probably the one I am most confident will proceed. I certainly hope so....

Really hope you're right Brando. I believe that The Watson sold well due to the fact they were reasonably priced (someone please correct me if I'm wrong) and that is my point above.

I believe that there is actually quite strong latent demand for quality CBD apartment living but most of the offerings we've seen in recent years are so overpriced, you're better off buying a townhouse or unit in the inner suburbs.

[AG]

The benefits of the tram line extension from 6-7 years ago in the form of increasing development along the southern end of King William Street is really starting to be seen now.

[Alyx]

I haven't seen this render posted yet. It is from The Advertiser's article about the development.

[Lightsview]

I'm really looking forward to this development. It says in the Advertiser article that marketing will begin in May. Fingers crossed they keep to schedule.

Since I'm looking to purchase an apartment in the city, I would really love to have an idea on the indicative pricing on the 2 bedroom apartments. Understand that 2/3 of the 205 apartments will be 1 bedroom apartments, which is something I don't get. Having spoken to various agents and developers, there is much greater demand for 2 bedders or even 1+1, so I can't fathom the rationale for so many 1 bedders.

Unless of course, they intend to price the units in this development above market prices, so a 1 bedder might be more affordable compared to a 2 bedder which might be priced at more than $500K.

[Lightsview]

I'd absolutely love to see this get built, but ......

Of all the recent development announcements - 19 storeys on North Tce, 11 storeys on Whitmore Sq and 32 storeys on Currie/Rosina St - I actually think this one has the least chance of getting built.

The reason I say this is that 205 apartments is a heck of a lot of apartments to sell around South Tce. If you look at precommitment of (say) 70% before a bank will bankroll it, that's 140 apartments to be sold off-the-plan. Does anything stand out in this apartment development compared to others around the Adelaide CBD which haven't sold well .... hmmm .... I can't see anything really special about it.

The only way they could possible move that volume of apartments is VERY, VERY, VERY attractive pricing. That would be the key for this development.

I'm sure you already know mate, this is the same group behind the old DTEI redevelopment in Walkerville the 'Watson'. They have done really well selling these and have also learnt from Adelaide and the market here.

I know they're keen to improve on what is already on offer in the city and offer something different.

So in a way, this is probably the one I am most confident will proceed. I certainly hope so....

From the Independent Weekly back in 2010:



Deagues' plan to transform Walkerville
KEVIN NAUGHTON
17 Apr, 2010 04:00 AM
The Deagues are coming to town.

Controversial Melbourne property developers David and William Deague are set to unveil plans for a 300-residential-apartment and 100-room, five-star boutique hotel complex in Walkerville.

It’s the latest chapter in a six-year messy saga of starts and stops, lawsuits and settlements, plans and pauses involving the State Government, Walkerville Council and private developers.

The involvement of the Deagues adds a couple of colourful characters to the story – characters the likes of which Adelaide has not seen for some time.

David Deague, chairman of Asian Pacific Building Corporation, and his helicopter-flying son Will, chief executive of APBC, are due to meet Walkerville Council’s mayor and officials at 2.30pm today.

Their plans – to refurbish the vacant Department of Transport building sold by the Government last year for an undisclosed sum – are estimated to cost more than $100 million.

The Deagues have also revealed they are in talks with the developer of an adjacent project, known locally as The Hole – a $55 million shopping centre and apartment complex that began with excavation of the site and then stalled in early 2009 due to financial problems.

“We met with him, we offered to buy it, but he’s knocked us back,” Will Deague said this week.

“But we still would like to have that site as part of our plans and the car parking issues we have.”

The proposed 10-storey development, with a working title “Art City at Walkerville”, is the latest venture by APBC in its Australia-wide Art Series Hotel ventures.

In 2009, the Deagues started building six hotels in the inner suburbs of Melbourne, named after and featuring the work of eminent Australian artists. Some of the art displayed in the hotels comes from the family's private collection.

David Deague has been collecting art for 30 years and in 2001 spent more than $1 million taking 10 artists to paint in South Australia’s iconic outback town of William Creek. John Olsen and David Larwill were among the painters and will have Art Series hotels named after them.

The first Melbourne hotel, The Cullen, named after Archibald Prize winner Adam Cullen, opened in Melbourne’s fashionable Prahran in December.

Will Deague said the Walkerville development would be part-residential and part-hotel.

“There will be 300 residential apartments and then there’s the 100-room, boutique five-star Art Series Hotel,” the younger Deague said.

“There will also be tennis courts and a gymnasium on the western side of the development.

“We’ll be adding two storeys but not going any higher than the air-conditioning plant on the current roof. We’ll also have to dig down to accommodate the development’s car parking requirements.

“We hope to get all the approvals in place and start construction by February or March 2011.”

But Walkerville Council might be a bit nervous about the prospect of another massive hole when the adjacent hole is still undeveloped.

The proposed Holcon development of Walkerville’s town centre hit a snag when the State Government backed down from a commitment to sell off the northern carpark on Walkerville Terrace, behind the Department of Transport building. The matter ended up in the Supreme Court, the parties settled and the Government then handed over its carpark while upgrading the southern carpark.

Shortly after, the State Government sold the building.

Full details of the various settlements and sales have never been released.

The Council was kept in the dark about who bought the building, with State Infrastructure Minister Pat Conlon refusing to reveal the name of the purchaser until June this year for reasons of “commercial confidentiality”.

“I doubt if they got much for it,” Walkerville Mayor David Whiting said.

“They were touting $30 million, but the asbestos in the building and the fact it hasn’t got a basement due to groundwater issues put it in a different price bracket, in our view. We offered them $10 million.”

Finally, last week, the Deagues revealed themselves as the purchasers and asked to meet Walkerville Council