Charter Hall has secured a pre-lease agreement with Federal Government agency Services Australia as the major ‘pre-commitment’ tenant for its A$450 million 60 King William Street development in Adelaide’s CBD.
The 10-year lease to Services Australia, which delivers social, health and other support services, is one of the State’s largest office pre-commitments covering 28,500sqm across 10 floors.
It takes 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.
More than 2,200 Services Australia staff will relocate to 60 King William Street in 2023.
Comprising approximately 40,000sqm of office space and 3,600sqm of retail space for 3,500 commercial and retail workers, the 60 King William Street development will become the largest commercial real estate project in Adelaide’s CBD
Charter Hall has appointed Built as its construction delivery partner for 60 King William Street, with works on site already underway. Completion is anticipated in mid 2023. More than 1,500 local jobs will be created during the development delivery phase. It is expected that 10 per cent of the on-site workforce will be new apprenticeships.