ATO to Anchor Massive Adelaide CBD Office Building

A NEW $200 million office building will be developed in Adelaide, after the Australian Taxation Office agreed to be anchor tenant.

The ATO, which also recently anchor tenanted a Melbourne building some say it didn’t need, will occupy 30,000 square metres of a building at Franklin Street, being developed by Western Australian based Aspen Group.

Aspen’s Tower 8 project will be bound by Waymouth, King William Flinders and Bentham streets, according to Adelaide Now, which announced the deal yesterday.

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Office Sector Set to Strengthen in 2011: Report

LAST year, by and large, residential landlords were the investors best able to reap the rewards of a short supply, by boosting their rents.

This year however, may be year of the office landlord.

According to a new report by commercial real estate agency Colliers International, office rental costs are expected to increase in most capital cities, because of a shortage of new supply and an improving economy.

It expects office vacancies to fall in all major CBD office markets expect Brisbane (which already has a high 9.6 per cent vacancy).

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