Adelaide office building verging on full occupancy after extensive upgrades

A near vacant office building on the edge of the Adelaide CBD is on the verge of achieving full occupancy, following an extensive upgrade.

The 12,000 square metre office building, at 431-439 King William Street, was just 16% leased 20 months ago but after a string of new leases the building vacancy's is now at about 93%. 

Among the new tenants include Logicamms, MEGT, Dunn and Bradstreet, Acciona and Guild Insurance.

A total of 10 new leases were signed up through Adam Hartley of Colliers International, covering 4,317 square metres of office space.

Mr Hartley said tenants were drawn to the convenient location, with easy access to and from the Adelaide CBD core and the suburbs.

He said the recently completed upgrade to the building was the icing on the cake for those tenants, "as they could envisage [a] great place to work and retain staff." 

The property is now an A-Grade building.

Colliers International’s Real Estate Management team assisted the building owner in identifying and implementing upgrades to improve the property’s energy efficiency and enhance its lettability, targeting a 4.5 Star NABERS energy rating, Hartley said.

news@propertyobserver.com.au

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