TG advises on largest leasing transaction in Adelaide this year

14 June 2018

News

Thomson Geer partner, Chris Kelly, has advised our client 1KW Pty Ltd (owner of 1 King William Street, Adelaide), on its recent leasing negotiations with Suncorp, in what has been billed as the largest leasing transaction of the year in Adelaide.

1 King William has undergone a complete refurbishment, to make it one of Adelaide’s most technologically advanced and environmentally sustainable buildings, targeting a 5.5 star NABERS base building energy rating. Some of the impressive features include onsite electricity generation through solar and natural gas, a new solar efficient façade, an impressive lobby with green living walls, café and restaurant, improved end-of-trip facilities including secure bike parks, showers and lockers as well as secure parking.

Suncorp has committed to a seven year lease of four entire floors comprising more than 4600 sqm of office space. Savills negotiated the deal, and stated that Suncorp was attracted to the ability of 1 King William to accommodate their need for expansive floor space within the one building.

The leasing negotiations included a detailed landlord and tenant works regime including a state of the art internal stairwell.