Cbus Property has revealed plans for a $300 million office tower on Pirie Street in Adelaide's city centre.

The developer says its looking to address the current lack of supply of commercial stock in Adelaide’s city centre with strong tenant demand driving potential new projects.

Stronger demand from the defence, mining and health industries has reignited Adelaide's CBD office market, with vacancy rates currently sitting at 14.2 per cent.

“Over the past few years, we have seen an increased appetite from domestic institutional developers and investors in Adelaide, which was once traditionally dominated by private developers,” Cbus Property chief executive Adrian Pozzo said.

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