Palumbo's $45 million Pirie Street project tops out

South Australian family developer Palumbo’s $45 million 185 Pirie Street office development has topped out with completion on-track by the end of the year.

The new addition to the city’s skyline comes as more CBD businesses look to move into new state-of-the-art office buildings with first-class amenities in a bid to lure workers back to the office.

On completion, the 7-storey office building will incorporate 6.500 square metres of office space with a rooftop terrace and light filled atrium with ground-floor café, and end of trip facilities including 56 secure bike racks as well as lockers and showers.

At the time of design, the building was awarded Australia’s First five Star Green Star certification. It will become one of only a few buildings in Adelaide designed to achieve a 5 Star Green Star rating and a 5 Star NABERS energy rating.

An anchor tenant has already been secured for the building with a Federal government agency taking two floors of the building from January 2024. Discussions are already well-advanced with three other tenants and nearing heads of agreement stage.

Palumbo Managing Director Daniel Palumbo said 185 Pirie would provide a significant boost to the available A Grade office space in the CBD.

“The new building provides spacious, flexible floor space for tenants, fast internet connection of up to 10 gigabytes, and excellent amenities for workers including end of trip facilities and adjacent parking,” said Mr Palumbo.

“It’s prime location facing towards Hindmarsh Square and just a short walk into the heart of the city will be a major drawcard for prospective tenants.

“Interest and demand for new office space in the CBD is growing as more businesses realise they must invest in the working environment to bring employees back into the office and boost productivity.”

Minister for Housing and Urban Development Nick Champion said the project highlighted developers' confidence in investing in South Australia to provide the world-class accommodation required to grow South Australian businesses.

“Projects like these are a sign of industry backing the State’s direction and providing critical investment in our CBD, ensuring Adelaide has world-class office accommodation to grow and attract jobs.

“The CBD is the beating heart of our State, and construction activity of this scale is testament to confidence – a confidence which is attracting head offices and major global companies into our city."

“This is an exciting milestone for a local developer, who continues to support companies expand in South Australia and plays an important role in reshaping our CBD's skyline.”

185 Pirie was designed by Palumbo with construction beginning in August 2022. The building, due for completion by the end of the year, has created more than 250 jobs during construction.

185 Pirie is one of several commercial and residential projects currently being undertaken by Palumbo which including Hillsview Green, a 400-lot master planned development at Angle Vale and recently approved 7-storey Kent Town apartment project.