The South Australian Office market is still showing signs of activity whilst businesses work to understand what and how they will operate when it’s back to business in the new normal.
According to Adam Hartley, Director, Office Leasing at Savills Australia, leasing activity is still progressing with a number of companies that are looking into the short to medium future with confidence COVID-19 will pass. The timeline to complete a new fit out will see occupation beyond the current health crisis.
“Now is a good time to review your property requirements and look to negotiate a new lease as landlords are keen to secure new tenants.
“My team and I are talking with many tenants and owners and the consistent feedback we hear is the re-evaluation of how companies will conduct business in the future.”
Mr Hartley said he has heard tenants may be looking to move away from the “Activity Based Working” setup to ensure all staff are provided with a desk to minimise any contamination issues, which in turn could expand the tenancy area.
“Conversely, I have spoken to a number of tenants that will look to provide more flexible working arrangements now that they have been forced to work remotely.
“I believe it is still too early to understand the benefits of either option as tenants need to look at other factors including productivity and collaboration. One size does not fit all, and as business comes back to the new norm, change is inevitable,” he said.
Mr Hartley and his colleague Zandra McGee of Savills Office Leasing believe one building that may be the solution is 18 Grote Street, located in the middle of the Adelaide CBD, situated on major bus lines and only a minute away from the Victoria Square tram stop, which also regularly links to the train station for free.
It’s business as usual for Adelaide travel agency and tour provider Holidays of Australia & The World, as it seeks complementary tenants to join it at its CBD headquarters at 18 Grote Street.
Tenants are being offered the opportunity to accommodate space in the building, where the travel agent and tour operator offers a range of local and international travel itineraries.
Holidays of Australia & The Wold Managing Director Ben Mead said “This is a great location for our business, and we enjoy all the local amenity it provides and its close proximity to the Adelaide Central Market, Rundle Mall and the restaurants and cafes close by. I feel this is a great option for a complementary business to share this building with us in a great industry.”
Mr Hartley added “There is 521sq m of net lettable area over the two floors of the building, all fitted out and furnished as a modern office which is available for lease, alternatively the first floor of approximately 274sq m can be separated off to create a separate tenancy with its own stylish entrance to impress clients, which would retain lift access."
The ground level has a large open plan configuration, whilst the upper level is serviced by a modern lift has a mix of open plan, meeting rooms, and a large conference/training room.
The property is fully data cabled and connected to the fast fibre optic internet. Other benefits include a large staff breakout kitchen, good storage areas, and secure space for bike parking. The building is disabled compliant with ramp access at the front, a lift and a DDA bathroom.
According to Zandra McGee, Executive, Office Leasing at Savills Australia, 18 Grote Street is in the heart of the legal precinct and is just metres from Victoria Square and the iconic Central Markets, with all the cultural tastes and delights at your doorstep.
“The CBD views and natural light from the large south facing windows, combined with the tall ceilings make this tenancy feel larger than it is, and will be a bright place your staff will love and your clients will not want to leave” she said.