Rush for new city apartments
Hines Property has received more than 500 registrations for the upcoming release of apartments in its $150 million 20 Hindmarsh Square project. An exclusive preview launch for registered parties will be held on November 1 for the project.
The landmark project, located on the site of the former Academy Cinemas, will include two towers - one a 16-level hotel tower to be operated as Crowne Plaza Adelaide and the other a 15-level tower with 77 luxurious residential apartments. Hines Property Director James Hines said the large number of registrations was a sign of the increasing demand for high quality apartments.
"On one hand the demand received so far is overwhelming, but on the other when you stand back and consider what is on offer and that this is probably the last remaining Hindmarsh Square site suitable for such a development, it's not so surprising," he said.
"We have received strong interest from Adelaide residents and also from people around the country. Given we are at the start of a mining and investment boom in South Australia, Adelaide is on the radar for many Australian property investors.
"The outlook and design of the apartments will be ideally suited to owner-occupiers, and the adjoining international hotel will create an incredibly vibrant precinct."
20 Hindmarsh Square will include 77 one and two bedroom apartments, with panoramic views across Hindmarsh Square, the city and Adelaide Hills. All apartments include car parking and storage units and residents will enjoy use of a gymnasium and pool facility.
Recently Hines Property announced the appointment of InterContinental Hotels Group, the largest hotel group in the world, as operator of the project's 300-plus room international hotel. The hotel will be operated under the Crowne Plaza brand, attracting significant attention and activity to the north-eastern quadrant of the square. The hotel will include extensive conference and meeting facilities, ground floor restaurant lounge and bar together with an expansive lobby opening onto Hindmarsh Square.
Hindmarsh Square has become the centre of development activity in the City, with more than $400m worth of new office and apartment projects planned or underway. Hines Property's Conservatory apartment and office project is currently under construction. Construction of the 20 Hindmarsh Square Apartments and Hotel is expected to start in a matter of months.