Perth

Appetite remains for quality space in competitive Perth market

Solid demand for quality fitted office space in Perth’s fringe has underpinned recent leasing activity at Uber’s former Subiaco headquarters.

03 Oct 2018

Solid demand for quality fitted office space in Perth’s fringe has underpinned recent leasing activity at Uber’s former Subiaco headquarters.

Online learning and education developer, GO1, will relocate its Perth branch to the 143 Hay Street property, following the departure of Uber and RM Capital in June this year. The 302sqm office suite is located on the ground floor. 

In a second transaction, tax and accounting services provider, Trove Group, has committed to lease a 392sqm space on the first floor. The headline rental for both transactions was $350 per square metre net. 

CBRE’s Rick McKenzie, who negotiated the deals, said the transactions highlighted the strong appeal of fitted tenancies in Perth’s fringe suburbs. 

“While vacancy remains elevated in Perth’s office market, what these transactions highlight is the consistent demand for quality fitted space. Building owners who are prepared to invest in re-birthing existing fitouts, and/or create speculative fitouts will attract tenants and benefit from reduced letting up periods,” Mr McKenzie said. 
 
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About CBRE Group, Inc.

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.

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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.