Construction on a boutique apartment and retail development in the heart of Adelaide has kicked off following a flood of interest.
More than half of the apartments at One Four Four Hutt, a joint project between Fortis and Otello, have already been secured.
Of those, 19 are unconditional sales so far – representing about $25.9m in sales – while another four apartments are reserved.
The DKO-designed 10-storey development on a 1241sqm corner site includes residences with one, two and three bedrooms, including a penthouse collection, with 400sqm of ground floor retail space.
All the one-bedroom apartments have sold but those with two and three bedrooms are still available, with prices starting from $1.125m for two and $2.099m for three.
Fortis SA head of development Arthur Dendrinos said the construction milestone showed there was demand for premium residences in Adelaide.
“Breaking ground at One Four Four Hutt marks the transition from planning to delivery,” he said.
“With construction now underway, we’re bringing to life a project that will set a new benchmark for apartment living on Hutt St and further elevate one of Adelaide’s most sought after lifestyle precincts.
“The strong sales achieved prior to construction commencement reflects the confidence purchasers have in the quality of the project, its location and the depth of demand for premium residential product in Adelaide.
“As Fortis’ first development in South Australia, this milestone is particularly significant and underscores our long-term commitment to the Adelaide market.”
Otello director Daniel Harris said starting construction was a defining moment for both the project and the Hutt St precinct.
“One Four Four Hutt has been designed to make a lasting contribution to the Hutt Street precinct, bringing new residents, premium retail activation and a level of quality that reflects the character and ensuring appeal of this highly regarded address,” he said.
“We’re also excited to appoint BLAG Commercial as our builder – having successfully worked together previously, we’re confident in their ability to deliver the quality, craftsmanship and attention to detail that underpin the project.”
