Perth, 23 February 2014 – Perth’s legal sector has dominated recent sales and leasing activity within the new Equus office building fronting Hay and Barrack Streets in the Perth CBD.
The building directory already lists national Sydney-based law firm Moray & Agnew, Atkinson Legal, CLP Legal, Parklinfoot Legal Solutions, MacLean Legal, Quarry Chambers and prominent Queens Counsel Stephen Owen-Conway in addition to a broad mix of professionals and consultants from a diverse range of industry.
With the dawn of 2014, two new contracts have just been ‘inked’ with two more legal firms taking 556sqm that will add to the growing stable of legal practitioners in the 580 Hay Street building, which is situated directly opposite the tower currently under construction that will house the Supreme Court. It is also just 100m away from 565 Hay Street that is being refurbished to house the State Administrative Tribunal.
Selling agent Michael Milne, Senior Manager CBRE Investment Sales, said only three of the original 50 commercial offices remain for sale in Equus ranging in area from 84sqm to 317sqm and priced from as little as $595,000 plus GST. This follows sales totaling close to circa $50 million since being appointed in 2012.
One of Perth’s most prominent property lawyers Mark Atkinson, founding Director of Atkinson Legal, outlined that the decision to relocate to Equus had made perfect sense for the firm, with key factors including the building’s location, amenities and pricing.
“As specialist strata property lawyers, the opportunity to buy new purpose-built commercial strata offices that meet current day building specifications and are in such a core CBD location, opposite the new ‘Justice Tower’ building and in the heart of the legal precinct, was an attractive option,” Mr Atkinson said. He added that older, retro-fitted offices his firm had previously operated from suffered because of inefficient design and higher operating costs.
Mr Milne said the overwhelming majority of law firms, including Atkinson Legal, had elected to purchase rather than lease the building’s strata offices.
“Local law firms in particular were keen to buy these offices due to the quality specifications and finish of the building, together with its central proximity in the heart of Perth’s ‘Justice Precinct’ near the recently refurbished Central Law Courts Building, new District Court building, just about opposite to the proposed home of the State Administrative Tribunal and directly opposite the new Supreme Court building” Mr Milne said.
For further details please contact Michael Milne on 0403 466 603.
For Australian/international news or global stories, follow us on Twitter.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2013 revenue). The Company has approximately 44,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 350 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website atwww.cbre.com.au.