WAs newest mining tenant inks lease at Elizabeth Quay
WA's newest mining tenant inks lease at Elizabeth Quay
| 17 October 2018
Western Australia’s newest mining entrant, US private equity firm Black Mountain Metals, has inked a lease on new office headquarters in the Perth CBD.
The US firm has moved into a 447sqm space on the ninth level of 40 The Esplanade – a 12-level A-grade building located at the footstep of Perth’s Elizabeth Quay precinct.
Located at the corner of William Street and The Esplanade, opposite the Elizabeth Quay transport hub, the boutique office building offers panoramic views of the Swan River.
CBRE’s James Phelan, who negotiated the lease, said the transaction highlighted growing confidence in the WA economy.
“Black Mountain Metals’ entry into the state’s mining sector - and subsequent establishment of operations in the CBD - is a further sign of the upturn in sentiment and economic conditions,” Mr Phelan said.
“40 The Esplanade is a sought after boutique office destination in the CBD, set to further benefit from the placemaking activation underway at Elizabeth Quay. Black Mountain Metals will join a strong lineup of tenants at the building, including LandCorp, Saracen Mineral Holdings; CleanTeq and Santos.”
Black Mountain Metals Chief Operating Office, Ashley Zumwalt said the company was attracted to the property’s outstanding location.
“We have beautiful views of Elizabeth Quay from the office. Our other office is in Fort Worth, Texas, far away from the water, so when we came to Perth, we wanted to capitalise on the views. The building’s proximity to public transport options also make it a really convenient spot to work for our staff,” Ms Zumwalt said.
Founded in 2007, Black Mountain Metals has recently established a significant presence in WA, driven by growing global demand for nickel on the back of the burgeoning electrical vehicle market.
“World-class battery metal assets, including nickel sulphides, are an integral component of battery cells used in the manufacture of electric vehicles. Black Mountain Metals recently purchased the Lanfranchi Nickel Project near Kambalda and is the largest shareholder of Perth-based Poseidon Nickel Limited. The company is poised to expand its team as it implements plans to return Lanfranchi to production,” Ms Zumwalt added.
Rents within the building range between $525 per square metre - $595 per square metre.
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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 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 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.