Suncorp shines on Adelaide CBD

Suncorp has snapped up more than 4600sqm of office space in the Adelaide CBD, in what is understood to be the city’s largest leasing deal this year.

The banking group has committed to 4662.4sqm of new space at 1 King William St, taking out levels four, five, six and 13 at the newly refurbished building.

The deal will see Suncorp take occupy the building for seven years, with options to renew.

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Savills’ Adam Hartley negotiated the deal, and says the building’s recent improvements were a key factor in the bank’s interest in relocating there.

“Suncorp was attracted to 1KW for its ability to accommodate the business’ need for expansive floor space in one building,” he says.

The Adelaide building has undergone a major refurbishment.

“1KW has undergone a significant makeover to make it one of Adelaide’s most technologically advanced buildings, targeting a 5.5-star NABERS base building energy rating.”

The refurbishment included improved end-of-trip facilities, as well as secure parking.

“The ground-floor renovations were only completed in December 2017 but this has inspired a lot more interest, and there are currently negotiations taking place for the remaining larger office spaces,” Mr Hartley said.

Suncorp was represented by JLL in the lease negotiations.