Quintessential has completed the multi-million-dollar regeneration of the iconic Adelaide CBD office tower three years after acquiring the site for $71.5M in 2021.
The acquisition was typical of Quintessential’s counter-cyclical approach to the market and is the company’s latest successful project in South Australia.
The regeneration works on the 18,000 sqm tower at 100 King William Street commenced in 2022 and Quintessential has proudly unveiled the completed building, marking the occasion with an invitation only leasing launch on Wednesday evening (10 October).
Attended by some of Adelaide’s prominent business leaders, guest speaker Erin Phillips hosted by Ali Clarke together with current and future tenants like AGL.
Officially opened by the Member for Adelaide, Lucy Hood MP, the ribbon cutting signified further recovery for the office market in Adelaide and a huge step forward in the revitalising of the CBD.
Member for Adelaide, Lucy Hood MP, said, “I’m delighted to see these regeneration works completed at 100 King William Street. This project is a shining example of how investment in our city can revitalise our CBD and attract people back to the workplace.”
“By modernising our office spaces and creating a more vibrant environment, we’re not just improving the city’s aesthetic appeal but also boosting our local economy and supporting local businesses.”
The upgrades to 100 King William Street include a facade refurbishment, upgrading the ground-floor foyer, new end- of-trip facilities, and additional third spaces. Quintessential is currently working with a top-tier food and beverage operator to join the team.
In February of this year, energy giant AGL was confirmed as the anchor tenant, taking up a 10-year lease to join existing clients like DW Tucker Fox and Commonwealth Bank, which had previously committed to a 10-year lease for its branch on the ground floor which has recently been refurbished.
Shane Quinn, Executive Director of Quintessential, is proud of the impact they are having in South Australia, saying, “The completion of the 100 King William Street works epitomises our commitment to South Australia, our ability to deliver high-quality results and attract top tier tenants in a competitive office market.”
“The refurbishment breathes new life into an iconic building and location within the heart of the CBD and is a testament to our ESG commitment to leaving places better than we found them and the Everyday Exciting brand positioning (at 100 King William Street).”
Quintessential’s Chief Operating Officer, Noah Warren, explained that the flight to quality and the requirement for high-quality offices is a considerable driver for tenants attracting staff back to the office, saying, “The property hadn’t been refurbished for decades, and we understood what was required to make 100 King William Street an attractive, market leading office space that will attract major occupiers and bring people back into the CBD again.”
“The works have created a significantly enhanced environment for tenants, which we know is hugely important for staff retention and teams returning to the office.”
Zoe King, Director at Cox Architecture, reflected on their collaboration with Quintessential and the impact the work will have on the city.
She said, “Through close consultation with Quintessential, the spirit and identity of the original building shines while enabling vital modification works to create vibrant and functional third spaces. Layered and varied zones have been designed to provide new opportunities for working and serendipitous encounters.
Known for delivering industry-leading commercial projects nationally and in Adelaide, Built was engaged by Quintessential to complete the regeneration work at 100 King William Street.
Built project engineer Xavier Gotch. “Our goal was to create a building that inspires and excites, a place where people want to work because of the high standards of amenity and aesthetic.”
He continued, “We understood the historic context and location of the building and took great pride in collaborating with Quintessential to rejuvenate the building, delivering a project that enhanced NABERS ratings and aligned with Quintessential’s strong ESG aspirations for the building.”
The full team of partners who have worked with Quintessential to make 100 King William Street what it is today include, CBRE, Colliers, Built, Cox, BESTEC, and Neoscape.
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