This article is from the Australian Property Journal archive
A NEW $20 million office building in Adelaide’s legal precinct has been offered to the market prior to construction on a floor-by-floor basis as a whole.
The new six-level office building, to be known as Penny Place, includes ground floor retail and will complete Flagship Group’s master-planned precinct that also features the 30-level Kodo residential tower and the soon to be completed 24-level Penny Place apartment block.
The precinct is located adjacent to the Federal Court building.
JLL’s Roger Klem and Jed Harley have been appointed to sell 13 Penny Place.
The five office floor plates will range from 440 sqm to 475 sqm and accommodate single and multiple tenants.
“Penny Place Commercial is the final element to our vision for this precinct. We wanted to create a day and night-time experience for the benefit of all occupiers, residents and workers,” Flagship Property Holdings’ chief executive officer, Mark Jarman said.
Completion of the commercial building is targeted for mid-2022.
Klem said Penny Place will become a future-proof workplace “where indoor and outdoor spaces seamlessly merge”.
“Plaza tree canopy views and light-filled contemporary floor plans enhance a culture of productivity and individual enrichment.”