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New office build celebrated in Adelaide as CBD vacancies increase to highest level since 2017
FriFriday 26
An artistic impression of the 20-storey office block being constructed on Pirie Street.
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There s a certain irony to commencing construction of a 20-storey office building while surrounded by commercial vacancy signs, but according to the South Australian government, it s good for jobs and investment.
Key points:
Adelaide s office vacancy rate has soared to 16 per cent due to new builds and COVID-19
A large South Australian government department will move into a new 20-storey office block once it is built
Despite the building s contribution to the office glut, stakeholders believe the investment is worth it