Suncorp commits to 1 King William Street in Adelaide's biggest leasing deal of the year

The largest leasing deal of the year has seen Suncorp take a lease in Adelaide's newly refurbished 1 King William Street (1KW).

The finance, insurance and banking giant has committed to 4,660 square metres of office space spanning levels four, five, six and 13.

Savills Australia’s Adam Hartley negotiated a seven-year term, with options to renew.

“Suncorp was attracted to 1KW for its ability to accommodate the business’ need for expansive floor space in one building,” he said.

Hartley said Suncorp, which was represented by JLL, was impressed by the property’s location and recent upgrades. 

“1KW has undergone a significant makeover to make it one of Adelaide’s most technologically advanced buildings, targeting a 5.5-star NABERS base building energy rating,” he said.

The ground floor renovations were completed in December which piqued interest.

The 19 storey tower last traded for $38.6 million in 2010.

Prime Super owns 90% of the 1968 building that was constructed by AMP.