The opportunity to occupy high quality fitted office space has lured two new tenants to one of Perth’s best A-grade office towers, 197 St Georges Terrace.
The first new tenant - international engineering firm - Laing O’Rourke has leased an 825sqm brand new speculative fitout on the 13th level of the building. The full floor property, which was negotiated at a rental of $650 per square metre, boasts sweeping views over the Swan River.
In the second leasing transaction, landscape architecture firm Aspect Studio has signed a five-year lease on a 209sqm speculative fitout on the ninth level of the building. The rental was $635 per square metre.
CBRE’s James Phelan and GDI Property’s (the building owner) John Byrne were responsible for these transactions.
Mr Byrne said the building’s amenity and location were key factors attracting its newest tenants.
“197 St Georges Terrace is one of Perth’s best core A-grade office towers located on the corner of St Georges Terrace and Mill Street. The building has a variety of excellent tenant amenity with river views from mid to high rise of the building” Mr Byrne said.
Mr Phelan said GDI’s ability to put high quality speculative fitouts in place for prospective tenants was garnering good success.
“In the current market, nine times out of 10, tenants are looking for the ease of fitted space that allows them to ‘plug in and play’ immediately – without the hassle of building a fitout,” Mr Phelan explained.
“There are a lot of new full floor fitout options available in Perth’s A-grade CBD market, however, the point of difference for 197 St Georges Terrace is the quality of its contemporary fitouts that offer sit-to-stand desks, feature ceilings and video conferencing rooms. These features were particularly attractive to Aspect Studio, which was seeking a higher quality collaborative space having relocated from a serviced office.”
Mr Byrne said the building’s amenity and location were key factors attracting its newest tenants.
“197 St Georges Terrace is one of Perth’s best core A-grade office towers located on the corner of St Georges Terrace and Mill Street. The building has a variety of excellent tenant amenity with river views from mid to high rise of the building,” Mr Byrne said.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
