Osborne Park office building fully leased prior to completion

Perth, 26 August 2014- One of Perth’s largest suburban office buildings has been fully leased prior to practical completion.

The 12 level, 20 Walters Drive building is situated in the Herdsman Business Park. It comprises 15,000sqm of space, with typical full floors averaging circa 2,300sqm.

The leasing agent for the building, CBRE Office Services Senior Director Andrew Denny, said the project had attracted strong interest, despite the perceived challenging market conditions.

Ventura Homes has leased the whole of levels 6, 7 and 8 (6,639sqm), while the Department of Education has leased level 9 (2,310sqm). BGC Contracting has taken the remaining office space totalling 5,458sqm on levels 10, 11 and 12.

Levels 1 to 5 are dedicated to car parking, providing a total of 550 spaces.

The ground floor tenancies have been leased by Dome Coffees and an Asian food operator.

Mr Denny said terms were agreed with all the tenants prior to practical completion of the building.

Rents in the building vary from $415/sqm to $460/sqm.

“To have a 15,000sqm development fully leased prior to completion in the current market is a significant achievement,” Mr Denny said.

“Tenants were attracted to the building by the large open plan floor plates, views over Herdsman Lake and to the CBD and the full height glazing on all four sides.”