Prime office space in demand in Adelaide
The new South Australian Police Headquarters under construction at 130 Argas Street in Adelaide is ...
The new South Australian Police Headquarters under construction at 130 Argas Street in Adelaide is on the verge of completion.
This is one of the construction projects currently underway in Adelaide,providing evidence of a well-performing market, a new paper has asserted.
According to the November market report The Month in Review produced by property valuations firm Herron Todd White (HTW), tenant activity has been steadily rising since the end of last year and vacancy rates falling in A-grade and premium real estate over the first half of the year.
''Tenants' expectations for improved standards of accommodation, better services and energy efficient features are continuing to drive the demand for prime quality stock over second grade buildings,'' the report said.
This finding is consistent with figures released by the Property Council of Australia in July of this year.
According to its latest office market report, vacancy in Adelaide’s central business district fell to 7.9 per cent - down from 8.4 per cent - over the first half of 2011.
Developers have already demonstrated that they are aware of this trend.
Other buildings currently under construction in Adelaide are City Central Tower 8 at 12-26 Franklin Street and and Rundle Place at 90-100 Grenfell Street.