Industrial chic as Pirie St blossoms after Maras Group upgrade


Posted on 05 May 2020

Maras Group chief executive Steve Maras has totally revamped 74 Pirie St, on a street which is reinventing itself as the business place to be in Adelaide.

As corporate South Australia slows down with the economic effects of COVID-19, a niche part of the Adelaide CBD is quietly reinventing itself as the business place to be.

Victorian industrialist Ross Pelligra is racing ahead in transforming the former ‘People’s Palace’ at 89 Pirie St while pension fund CBUS last month announced a new $300 million, State Government tenanted building to go up on the site of the long dilapidated former Planet nightclub.

There will be too a sparkling new, 295 room Hyatt hotel at the site of the former Bank of South Australia building. A 2023 opening was mooted before the current health crisis.

All very impressive, but a well known Adelaide property outfit has scooped the lot with its revamp of its eight floor office building on the corner of Pirie St and Coromandel Place.

Already a rooftop ‘fish bowl’ is beaming out rotating light colours from the top of 74 Pirie St says Maras Group chief executive officer, Steve Maras, who has totally revamped the building which has six office floors, a rooftop terrace, ground floor and basement.

The dated building that previously housed a Subway on the ground floor has morphed into an up-market, industrial chic unit in keeping with the Pirie St uplift, Mr Maras said.

“The location of the building is a winner with everything that’s going on in Pirie St,” Mr Maras said. “Knowing that the Planet site was going to be redeveloped was an opportunity to go ahead with this development.”

“The location of the building is a winner with everything that’s going on in Pirie St,” Mr Maras said. “Knowing that the Planet site was going to be redeveloped was an opportunity to go ahead with this development.”

Already four of the six, 245sq m floor plate, levels have been leased with a fifth due to sign very shortly Mr Maras said.

Tenants already locked in for the June 1 opening include debt refinancing and restructuring group Capital United, which will be on level six, plus a national IT firm, an environmental consulting firm as well as an urban planing group.

Capital United will move in on July 1 after outgrowing its Flinders St HQ, said managing director Tom Waltham.

“We like working in the eastern side of the CBD and our brief to (Savills’ leasing agent) Adam Hartley was an office space nearby with plenty of natural light and preferably our own floor,” he said.

“We like working in the eastern side of the CBD and our brief to (Savills’ leasing agent) Adam Hartley was an office space nearby with plenty of natural light and preferably our own floor,” he said.

“74 Pirie St certainly met the brief and then some. The building ticked all the boxes: own floor space, lots of natural light, rooftop area, new fit out, end of trip facilities with plenty of nearby amenities.”

Each floor can accommodate up to 30 workers, Mr Maras said, and there will be no sub-division, with each floor reserved for one tenant only.

“This is a good news story, in the last two months we have completely changed the building,” Mr Maras said.

“The end of trip facilities in the basement include bike racks, showers, lockers and an airing room and it is book ended by the rooftop terrace which has a superb open area facing Pirie St and a covered retractable area that can be used for private functions.”

A restaurant/cafe tenant is being sought for the ground floor, the nearby Osteria Oggi restaurant an indicator of the calibre of operator sought, Mr Maras said.

Industrial chic as Pirie St blossoms after Maras Group upgrade by Richard Evans originally seen on The Advertiser 4 May 2020. Licensed by Copyright Agency. You may only copy or communicate this work with a licence.