Watpac appointed as preferred Kodo project contractor
The Kerry Stokes-backed Flagship Property Holdings is close to kicking off the $100 million Kodo apartment development in Adelaide with the appointment of listed construction company Watpac as preferred contractor.
Work on Adelaide’s tallest residential apartment development is to start mid-year and will build upon on the company’s active pipeline. Flagship was established in 2008 by shareholders including Stokes’ Seven Group Holdings and it works across Australia.
It recently developed the Sunday Coventry Street Apartments in Melbourne, and is also planning to develop the Royal Hotel site at Kent Town in South Australia.
Watpac’s appointment comes after the federal government last month backed down on attempts to halt the building of the 30-storey complex adjacent to the Commonwealth Law Courts on Angas St.
We are looking forward to joining forces again to create a fantastic new development for Adelaide
The tower was briefly put on hold after concerns the 103.2m building exceeded height restrictions but the proceedings were discontinued after the government reached an agreement with the developer.
Flagship director Steve Wise says the developer is excited to again partner with one of the country’s top construction companies.
“To deliver a large residential project like Kodo, we know how important it is to assemble a delivery team in which purchasers can be confident,” he says
He notes Watpac’s track record for delivering landmark buildings across Australia, and the pair worked on the Sunday Apartments.
“We are looking forward to joining forces again to create a fantastic new development for Adelaide,” Wise says.
Watpac managing director Martin Monro says that Kodo is going to be an iconic Adelaide building.
Kodo, on Angas St near Victoria Square and the Central Markets, will span 208 apartments, with ground floor retail and commercial tenants.
This article originally appeared on www.theaustralian.com.au/property.