Charter Hall Group has secured Services Australia as the major pre-commitment tenant at its $450 million 60 King William Street development in Adelaide’s CBD.
More than 2200 Services Australia staff will relocate to the building in 2023. Its offices span 28,5000 square metres across 10 floors, taking the new building’s committed commercial net lettable area to over 70 per cent, with the only available space left on the top three skyrise floors.
Construction company Built has begun construction on the building, with completion expected in mid 2023. More than 1500 are expected to be created during the project delivery phase, with around 10 per cent of the on-site workforce expected to be new apprenticeships.
Senator for South Australia and Federal Finance Minister Simon Birmingham welcomed this major commitment by Services Australia that will help unlock thousands of jobs and provide a major boost for the South Australian economy.
“This iconic new development teamed with the long-term commitment by Services Australia couldn’t come at a more important time for our state,” Birmingham said.
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“With Services Australia now signed-up as the main tenant at 60 King William Street, construction can kick-off and that means jobs can start to flow.
“Charter Hall’s development is going to be jobs bonanza for South Australia – it won’t only create around 1500 jobs during the construction phase but will also support thousands of jobs in the CBD after its completion.”
Designed by Cox Architecture, the development will include a PCA A-Grade 14-storey office tower, alongside a new retail, food and lifestyle precinct. The project incorporates the restoration of the state heritage listed Sands and MacDougall facade.
South Australian Premier Steven Marshall said the transformative 60 King William development makes a clear statement that Adelaide and South Australia is open for business.
“This project will leave a lasting legacy on our CBD footprint and create a huge number of jobs at a time when employment and private investment is greatly needed,” Marshall said.
“Today’s announcement that Services Australia has made a 10-year commitment is very positive news and highlights the ongoing optimism in our State and economy.”
Charter Hall’s Managing Director and Group CEO David Harrison said he was thrilled to extend Charter Hall’s tenant customer relationship with Services Australia at 60 King William Street.
“Given the Commonwealth Government is a major tenant customer across our $45 billion property portfolio, we strongly value our relationship with the various Government agencies we partner with and look forward to delivering a quality workplace environment that will support the delivery of their services to the South Australian community” he said.
“Charter Hall has a long and proud history in South Australia, with a diversified portfolio of commercial office space, government and education facilities, retail, social infrastructure and logistics properties located throughout the State. The project will increase Charter Hall’s total investment in South Australia to more than $2 billion.
“We were very proud to officially open the $260 million GPO Exchange development in Adelaide’s CBD in October last year, and we maintain a positive outlook for the State. Building on this success, and in a major vote of confidence for the future of South Australia, 60 King William Street will be our largest commercial investment in Adelaide to date. We are excited to deliver this incredible project, which will be a significant employment generator and boost to the local economy.”