Greg Hicks has built a 92 meter high office building at 115 King William St, Adelaide. It’s the first tall office building built in Adelaide in over 2 decades.
He claims to be unconcerned by the lack of activity in the Adelaide market.
Whilst Melbourne and Sydney’s office real estate markets are very strong, Adelaide’s office vacancy rate at 16.7 percent is the highest it’s been in 2 decades.
The local government is funding a push to bring business into the CBD to try and stimulate growth.