Hamilton's new office space is set to expand even further with Magnolia Towers the latest development to join the growing list of construction projects.

The development, which will be built on the site of the now demolished 15 Parliament Street building between Seaventure Building and Melbourne House, will comprise seven storeys of mixed use, including four office floors, one retail floor and two floors containing a luxury one-bedroom apartment on each level.

The applicant and owner of the development, Magnolia Towers Ltd., had its application for demolition approved in April last year and planning permission for the building granted in November.

Gary Simmons, a partner at Linberg & Simmons, the architect responsible for the development, said the building's location was well-suited to both local and international business.

He said that the small footprint allowed flexibility in the size of business that can be accommodated, while maintaining exclusivity for tenants, and each level benefits from a high ratio of glazing relative to the floor area and the glazing and the other systems in the building have been specified to maximise energy efficiency.

Meanwhile, Mr. Simmons said that the reinforced concrete structure will reduce the impact of the construction on the surrounding businesses and the use of such technology was ideal for longevity, meaning lower maintenance costs.

He also confirmed that though the office and retail space has not yet been marketed, a number of inquiries had been received, with the date for completion expected to be February 2010.