A building planned for Adelaide could become the city’s tallest tower and is expected to reactivate the eastern CBD.
The proposed 36-storey Frome Street project would, if approved, overtake in height the 31-storey, 132-metre Westpac House office building on King William Street, which was built in 1988.
An application to develop the 4163-square-metre site at 11-27 Frome Street was lodged in June with the Development Assessment Commission.
Colliers International agents Nick Pelvay and Aimee Guo have been appointed to market the residential component of the property for Kyren.
The lower floors of the tower planned by developer Kyren Group will house a 150-room hotel, with serviced apartments on levels 11 to 21, according to Colliers.
The residential apartments will be on levels 22 to 36, with a separate entrance, car parking and lifts from the serviced apartments.
“All 88 apartments will all have completely unobstructed, outstanding views in all directions, so we’re anticipating strong interest from the local market and Asian markets, particularly in the two- and three-bedroom dwellings.” Mr Pelvay said.
An artist’s impression of the 36-level tower Kyren Group is planning for 11-27 Frome Street, Adelaide.
A separate 21-storey student accommodation tower facing Synagogue Place, with 268 beds and a ground-floor cafe, is also part of the project.
Price information was not disclosed.
Adjacent to the development site is Tavistock Lane, which has prompted a wider discussion among the city council about the ownership, activation and use of the city’s laneways.
Mr Pelvay said South Australian apartment approvals now represented 31 per cent of the residential building market – an increase from 20 per cent in 2012.
Adelaide apartment approvals had almost doubled in the past three years, from 1695 in 2012 to 3385 this year.
Another major project, at 88 O’Connell Street, will comprise eight buildings with more than 130 apartments as well as office and retail space.
Starwood Hotels is building a five-star Sheraton Hotel on the same block which is expected to open in 2019.
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