Approval for 262 Pirie St’s 25-storey, $60 million mixed-use development

A 79-METRE, 25-storey building that will contain office and retail space and more than 80 apartments has been approved for Adelaide’s East End.

THE completion of the O-Bahn extension and growing allure of Adelaide’s East End is behind a plan to build a 79 metre high mixed use, CBD development.

Development Assessment Commission (DAC) approval has been granted for the 25-storey building opposite the Tivoli Hotel on the eastern extreme of Pirie St.

“We are delighted in contributing to the emerging redevelopment in the city’s iconic east precinct, which we believe will continue to expand due to the location’s vibrant and exciting lifestyle opportunity,” said accountant Lucio Signore from Pirie St Developments who is behind the 262 Pirie St building.

The $60 million project, which will include 81 apartments and 40 car park spaces ranged across levels 1-5, has taken more than 12 months to plan. The developer Mr Signore, a former National Soccer League (NSL) midfield player with Adelaide City in the 1980s, anticipates work will begin round March next year with completion a further 18 months on.

An artist’s impression of the approved development at 262 Pirie St.

Demand for the building which will have a retail and commercial ground floor, first floor office and upper residential use, will be substantial following the burgeoning growth around Ebenezer Place and slightly further afield in Kent Town Mr Signore said.

The Pirie St development, when completed, will be Adelaide’s second tallest residential building after the Vue apartments on King William St which were officially opened by Deputy Premier John Rau last week.

Meanwhile a further degree of vibrancy will be added to the CBD today by Mr Rau again when he unveils a new $75 million residential development, the 18 storey ‘Vision on Morphett’. The project is the first of several large-scale projects the developer, China-Australia Property Group, intends to build in the CBD. Its managing-director, Hanson Lin, will speak on growing property confidence in Adelaide and its attraction as an investment opportunity at the launch, which is set to feature ceremonial Chinese lion dancing.