Perth

APD powers in to new space on the Terrace

In another major win for 200 St Georges Terrace, APD Power Engineering has pre-leased a whole floor on the 16th level to accommodate its Perth operations.

22 Mar 2018

In another major win for 200 St Georges Terrace, APD Power Engineering has pre-leased a whole floor on the 16th level to accommodate its Perth operations. 

APD swooped on the property, signing a three-year lease on the 1,084sqm floor in advance of the incumbent lessee, QBE, handing back the floor as a result of their extend and blend renewal in 200 St Georges Terrace over 3,500sqm. The QBE renewal was negotiated by the PDT’s asset manager Beck Advisory.

CBRE Director Lachlan Lewis negotiated the APD transaction with a commencing gross rental in the vicinity of $625 per square metre and a market level incentive. 

The deal was finalised in December 2017, however the floor is not available until April 2018. 

“The APD deal was an excellent outcome for the building owners, given this significant and potential vacancy was pre-leased well before its availability. APD looked at a number options in the market at the time but selected this option due to the existing fitout that ticked all the boxes operationally,” Mr Lewis said. 

“The major capital spent on the building upgrade in recent years was also a driver with the lessee identifying the A-grade building as a clear value for money opportunity.”

 
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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 approximately 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.

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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 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of 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 https://www.cbre.com.