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Old June 24th, 2013, 02:08 PM   #1
dashyfreak
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CBD CORE > U/C: 50 Flinders Street - 63m / 15L / Office

This will the be the People's Choice Credit Union's headquarters with Santos being a major tenant.

Construction is expected to commence any time now with both People Credit Union and another tenant to move out on 1st July. And according to 63Humber from Sensational-Adelaide, soil sampling drilling started on June 17.




Quote:
Flinders St mixed use development secures second major tenant, meets pre-commitment requirements to commence project
Giuseppe Tauriello
February 26, 2013 12:00AM

PEOPLE'S Choice Credit Union will be delivered new $140 million headquarters, the project developer having secured another major tenant to anchor the building.

Adelaide-based developer Commercial & General will start negotiations with builders to complete the mixed-use project at 50 Flinders St, with works scheduled to start in July.

"We believe we've satisfied the required level of pre-commitment to commence the project," Commercial & General managing director Jamie McClurg said.

"We are working on a planning consent - we would anticipate we would get that mid-next month."

The country's second largest credit union committed to occupy 10,000sq m, or half of the new building's footprint, in 2011.

Mr McClurg would not disclose the second tenant that had committed to a further 5000sq m in the building, but it is understood the state's biggest company, Santos, is the partnering tenant.

The oil and gas producer's head office is at 60 Flinders St, and a component of its workforce is based at refurbished office space at 30 Flinders St, under a short-term lease.

It is understood those staff will relocate after the new building is completed, towards the end of 2015. About 400 Santos staff could occupy the 5000sq m of space.

"There are not too many tenants around that can underpin a single building with enough commitment," Mr McClurg said.

"And I'm confident we'll be able to secure tenants to complete the project before the development is completed in full."

Jones Lang LaSalle director Tom Budarick, who negotiated the leasing of the project, said it was good news for the Adelaide office market.

"Any large commitment, particularly one that results in new construction, will generate some positive sentiment and excitement in the market," he said.

"Negotiations remain challenging and continue to take time but the commitments to Flinders St demonstrate that there is demand for good quality space in the right locations."

The new five-star, energy-efficient building will replace People's Choice's current base, which is about 30 years old.

Mr Budarick said 50 Flinders St was particularly exciting, given the size of the development and because of its prominent location.

"We are continuing discussions with tenants and hope to have at least one further floor committed in coming months," he said.

Meanwhile, discount supermarket chain Aldi's intention to find a northern-suburbs site for its distribution centre - to support up to 50 stores across the state - has sparked the interest of Commercial & General, which holds significant land-holdings in the north.

Mr McClurg said there were few facilities in the north that would meet Aldi's requirements.

"We have plans on the drawing board for a site we own that sits between Coca-Cola, National Foods and Bickfords in the Cross Keys food precinct and that's large enough to take two operators of that size," he said.

"Certainly we'll be watching that brief and seeing if we can offer an opportunity."

Santos declined to comment on the lease deal.
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Old July 7th, 2013, 11:44 AM   #2
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From S-A:

Quote:
Originally Posted by Ben
I think work will start on this ASAP. Credit u ion moved last week and ACC were moving the lanes and median strip over to the south side today.
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Old July 13th, 2013, 02:52 PM   #3
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From S-A:

Quote:
Originally Posted by Ben
This ones moving fast. Hoardings up and demo started.

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Old July 30th, 2014, 02:41 PM   #4
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Taken late last month by Pikey at Sensational Adelaide

[IMG]http://i62.************/2ch7xuv.jpg[/IMG]
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Old February 16th, 2015, 11:14 AM   #5
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This building is nearing completion, adding some more density to the CBD Core.




Nice wall of modern buildings

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Old March 10th, 2015, 06:39 AM   #6
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Australian architects are really going colour-mad with all their designs. But it's actually a lot nicer in real life than in the renders and the red isn't that assaulting as it appeared initially.
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Old March 25th, 2015, 07:58 AM   #7
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This one is almost finished.

Looking down Flinders Street today 25/3.




I think it's a nice addition to this stretch of Flinders. Need some going further east now.
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Old November 21st, 2015, 05:51 AM   #8
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This building is now complete with tenancies on the ground floor.
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Old November 21st, 2015, 06:43 AM   #9
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Quote:
Originally Posted by wilkiebarkid View Post
This building is now complete with tenancies on the ground floor.
our department is moving in this weekend. First time I will be looking forward to work on a Monday. Level 13 has a large outdoor BBQ/lunch area balcony. Levels 9-14 has an internal staircase in the middle for a 'flexible workplace' We all had a tour during the week, very nice
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Old November 21st, 2015, 08:31 AM   #10
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Quote:
Originally Posted by eastadl View Post
our department is moving in this weekend. First time I will be looking forward to work on a Monday. Level 13 has a large outdoor BBQ/lunch area balcony. Levels 9-14 has an internal staircase in the middle for a 'flexible workplace' We all had a tour during the week, very nice
You should get some nice views on the 13th floor.
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Old May 3rd, 2019, 01:35 PM   #11
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COMPLETED years ago
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