GT Insurance is relocating its Perth headquarters from West Perth to the Forrest Centre in the CBD.
GT Insurance has signed a long term lease on a 285.7sqm office space located on the eighth level of the 221 St Georges Terrace office tower.
CBRE’s Andrew Denny negotiated the lease on behalf of lessor YT International. The rental is $500 per square metre net.
Mr Denny commented on the lease transaction: “This is another example of tenants moving from the suburbs to the CBD as they take advantage of attractive leasing opportunities in the market. This flight to quality has continued to gain momentum over the past four years, as suburban-based tenants make the move into higher quality accommodation in the CBD.”
“This is one of the few leasing deals completed over the past few months, where the space is not already fitted. Leasing transactions from June this year have been dominated by tenants leasing existing fitted space only.”
Located in the heart of the CBD, the Forrest Centre offers premium facilities, such as conference rooms, a professionally managed gym, tennis court and swimming pool.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, 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.