Savills News

Boutique office building in the heart of the Adelaide CBD leased to two new tenants

Two unaffiliated national companies, Gadens Lawyers and Axsys, have recently signed separate leases at the same high quality boutique office building, 333 King William Street, on the most central street in the Adelaide CBD.

Axsys has signed a 5-year lease for 125sq m, while Gadens Lawyers has signed a 3-year lease for 183sq m, both on the first level.

Savills Office Leasing agents Zandra McGee and Adam Hartley brokered the deal on behalf of KWS 333 Pty Ltd for a gross yearly rent of around $470 per square metre, plus GST, with 3.75% annual rental increases.

“Gadens Lawyers is a new presence in Adelaide,” said Ms McGee. “They used to have a member firm called Fisher Jefferies that were based here, but they diverged and wanted to re-affirm their brand in Adelaide.”

“Axsys has been in the Adelaide CBD for some time, and wanted to remain here, but needed a turn-key high end solution that provided staff easy access for coming and going every day.”

Mr Hartley explained letting out the vacant floors involved a bit of strategising due to the unique situation of the vacancy.

“The owner of the building didn’t want to split the floorplates. Zandra was able to source the two new tenants, so that whilst the floor still needed to be split, there would be no vacancy from splitting it.”

“There was also minimal vacancy between the prior tenant and the two new ones.”

Ms McGee said that, after multiple inspections, both Gadens Lawyers and Axsys decided 333 King William St was a ‘perfect fit.’

“Each tenancy within this high-end boutique office building benefits from a side of floor-to-ceiling glass windows, providing ample natural light for the work areas and views of treetops.”

The newly-leased tenancies have a mixture of meeting rooms, boardrooms and open-plan work stations and a few offices as well as their own kitchens and came already furnished providing a walk-up start.

“The offices share a grand waiting/reception area, which always looks impressive to clients, and reflects the calibre of the new tenants,” said Ms McGee.

“There’s on-site parking and a multi-deck carpark nearby, along with bus and tram stops within a 2-minute walk of the building. Staff will be spoilt for lunch selection with the Adelaide Central market only a 5-minute walk away.”

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